Greenwood Capital Associates LLC Has $6.60 Million Stock Position in Deere & Company $DE

Greenwood Capital Associates LLC raised its holdings in shares of Deere & Company (NYSE:DE) by 15.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,398 shares of the industrial products company’s stock after acquiring an additional 1,412 shares during the quarter. Greenwood Capital Associates LLC’s holdings in Deere & Company were worth $6,596,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Cary Street Partners Financial LLC boosted its holdings in shares of Deere & Company by 11.8% in the 4th quarter. Cary Street Partners Financial LLC now owns 10,312 shares of the industrial products company’s stock valued at $4,801,000 after buying an additional 1,086 shares during the last quarter. Baxter Bros Inc. bought a new position in Deere & Company in the second quarter valued at approximately $1,707,000. Global Retirement Partners LLC bought a new stake in shares of Deere & Company during the 2nd quarter valued at approximately $3,890,000. Westpac Banking Corp boosted its stake in shares of Deere & Company by 78.6% during the fourth quarter. Westpac Banking Corp now owns 6,925 shares of the industrial products company’s stock valued at $3,224,000 after purchasing an additional 3,047 shares in the last quarter. Finally, TRB Wealth Management LLC bought a new position in Deere & Company during the 2nd quarter worth $623,000. Institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Performance

NYSE DE opened at $630.66 on Friday. Deere & Company has a 52-week low of $433.00 and a 52-week high of $674.19. The company has a 50-day simple moving average of $611.59 and a 200 day simple moving average of $593.34. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.89 and a current ratio of 2.10. The company has a market capitalization of $170.24 billion, a PE ratio of 35.04, a price-to-earnings-growth ratio of 2.60 and a beta of 0.90.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, August 20th. The industrial products company reported $5.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.69 by $0.41. Deere & Company had a return on equity of 18.10% and a net margin of 10.16%.The business had revenue of $12.61 billion during the quarter, compared to the consensus estimate of $10.81 billion. During the same period last year, the business posted $4.75 earnings per share. The business’s revenue for the quarter was up 6.2% on a year-over-year basis. On average, research analysts predict that Deere & Company will post 18.11 EPS for the current year.

Deere & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 9th. Stockholders of record on Wednesday, September 30th will be issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Wednesday, September 30th. Deere & Company’s dividend payout ratio is presently 36.00%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on DE. Wall Street Zen lowered shares of Deere & Company from a “hold” rating to a “sell” rating in a report on Saturday, August 22nd. Robert W. Baird increased their target price on Deere & Company from $525.00 to $640.00 and gave the stock a “neutral” rating in a report on Friday, August 21st. Citigroup lifted their price target on shares of Deere & Company from $610.00 to $650.00 and gave the company a “neutral” rating in a research report on Friday, August 21st. JPMorgan Chase & Co. upped their price objective on shares of Deere & Company from $570.00 to $585.00 and gave the stock a “neutral” rating in a report on Friday, August 21st. Finally, Oppenheimer raised their price objective on shares of Deere & Company from $680.00 to $685.00 and gave the company an “outperform” rating in a research note on Thursday, August 20th. Fourteen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $653.48.

Deere & Company Company Profile

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.