Tenet Wealth Partners LLC Acquires New Position in Deere & Company $DE

Tenet Wealth Partners LLC purchased a new position in Deere & Company (NYSE:DE) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 826 shares of the industrial products company’s stock, valued at approximately $516,000.

A number of other large investors have also modified their holdings of DE. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in Deere & Company during the 2nd quarter worth $27,000. Timmons Wealth Management LLC acquired a new position in Deere & Company in the fourth quarter valued at $29,000. Kilter Group LLC acquired a new position in Deere & Company in the second quarter valued at $29,000. Solstein Capital LLC purchased a new position in shares of Deere & Company during the second quarter worth about $30,000. Finally, Wealth Watch Advisors INC purchased a new position in shares of Deere & Company during the third quarter worth about $32,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Performance

NYSE DE opened at $692.68 on Friday. The stock has a market capitalization of $186.76 billion, a price-to-earnings ratio of 38.48, a PEG ratio of 2.86 and a beta of 0.90. The business’s 50 day moving average is $619.13 and its two-hundred day moving average is $596.29. Deere & Company has a 12-month low of $433.00 and a 12-month high of $705.88. The company has a current ratio of 2.10, a quick ratio of 1.89 and a debt-to-equity ratio of 1.45.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, August 20th. The industrial products company reported $5.10 EPS for the quarter, beating the consensus estimate 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 analysts’ expectations of $10.81 billion. During the same period last year, the firm earned $4.75 EPS. The company’s quarterly revenue was up 6.2% compared to the same quarter last year. Research analysts expect that Deere & Company will post 18.12 EPS for the current year.

Deere & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 9th. Shareholders of record on Wednesday, September 30th will be given a $1.62 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $6.48 annualized dividend and a yield of 0.9%. Deere & Company’s dividend payout ratio is presently 36.00%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on DE. Nomura raised Deere & Company to a “buy” rating in a report on Monday. Seaport Research Partners set a $570.00 price target on Deere & Company in a research note on Friday, August 14th. Wall Street Zen lowered Deere & Company from a “hold” rating to a “sell” rating in a research report on Saturday, August 22nd. Citigroup boosted their price objective on Deere & Company from $610.00 to $650.00 and gave the company a “neutral” rating in a research note on Friday, August 21st. Finally, JPMorgan Chase & Co. increased their price objective on Deere & Company from $570.00 to $585.00 and gave the company a “neutral” rating in a report on Friday, August 21st. Sixteen analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, Deere & Company currently has a consensus rating of “Moderate Buy” and an average target price of $680.73.

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.