Meridian Wealth Management LLC Has $7.18 Million Stake in Deere & Company $DE

Meridian Wealth Management LLC reduced its stake in shares of Deere & Company (NYSE:DE) by 2.2% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,111 shares of the industrial products company’s stock after selling 320 shares during the period. Meridian Wealth Management LLC’s holdings in Deere & Company were worth $7,175,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Mid American Wealth Advisory Group Inc. acquired a new position in shares of Deere & Company during the 2nd quarter worth $25,000. Activest Wealth Management boosted its position in Deere & Company by 2,750.0% during the first quarter. Activest Wealth Management now owns 57 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 55 shares during the period. Marshall & Sullivan Inc. WA acquired a new stake in shares of Deere & Company in the second quarter worth $38,000. Livelsberger Financial Advisory acquired a new position in Deere & Company in the 2nd quarter valued at $39,000. Finally, Center for Financial Planning Inc. lifted its position in Deere & Company by 406.7% during the 2nd quarter. Center for Financial Planning Inc. now owns 76 shares of the industrial products company’s stock worth $39,000 after acquiring an additional 61 shares during the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on DE shares. Evercore ISI set a $491.00 price target on Deere & Company in a report on Tuesday, August 19th. Jefferies Financial Group decreased their target price on Deere & Company from $510.00 to $440.00 and set a “hold” rating on the stock in a research report on Wednesday, October 8th. Citigroup reduced their price objective on Deere & Company from $525.00 to $515.00 and set a “neutral” rating for the company in a research report on Tuesday, October 7th. Royal Bank Of Canada began coverage on Deere & Company in a research note on Wednesday, October 22nd. They issued an “outperform” rating and a $542.00 target price for the company. Finally, JPMorgan Chase & Co. lowered their price target on shares of Deere & Company from $495.00 to $480.00 and set a “neutral” rating on the stock in a report on Tuesday, October 14th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $520.05.

Deere & Company Stock Up 0.5%

Deere & Company stock opened at $475.76 on Friday. Deere & Company has a fifty-two week low of $390.00 and a fifty-two week high of $533.78. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.19 and a quick ratio of 1.98. The firm has a market capitalization of $128.61 billion, a price-to-earnings ratio of 24.87, a PEG ratio of 3.05 and a beta of 1.04. The company’s 50 day simple moving average is $466.04 and its 200 day simple moving average is $490.68.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.62 by $0.13. The firm had revenue of $10.36 billion during the quarter, compared to analysts’ expectations of $10.33 billion. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The company’s revenue was down 9.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $6.29 EPS. As a group, sell-side analysts anticipate that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, November 10th. Shareholders of record on Tuesday, September 30th were given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend was Tuesday, September 30th. Deere & Company’s payout ratio is 33.87%.

Deere & Company Profile

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.