Good Steward Wealth Advisors LLC Takes $672,000 Position in Deere & Company $DE

Good Steward Wealth Advisors LLC acquired a new stake in shares of Deere & Company (NYSE:DE) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 1,060 shares of the industrial products company’s stock, valued at approximately $672,000. Deere & Company accounts for 0.4% of Good Steward Wealth Advisors LLC’s portfolio, making the stock its 27th biggest position.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cary Street Partners Financial LLC raised its stake 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 worth $4,801,000 after buying an additional 1,086 shares in the last quarter. Spectrum Financial Alliance Ltd LLC boosted its stake in Deere & Company by 55.8% during the fourth quarter. Spectrum Financial Alliance Ltd LLC now owns 85,351 shares of the industrial products company’s stock valued at $39,737,000 after buying an additional 30,553 shares in the last quarter. Westpac Banking Corp boosted its stake in 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 buying an additional 3,047 shares in the last quarter. Natixis Advisors LLC grew its holdings in Deere & Company by 13.4% during the fourth quarter. Natixis Advisors LLC now owns 388,595 shares of the industrial products company’s stock worth $180,919,000 after acquiring an additional 45,782 shares during the period. Finally, Vise Technologies Inc. grew its holdings in Deere & Company by 46.1% during the fourth quarter. Vise Technologies Inc. now owns 6,265 shares of the industrial products company’s stock worth $2,917,000 after acquiring an additional 1,977 shares during the period. Institutional investors own 68.58% of the company’s stock.

Deere & Company Trading Down 0.6%

NYSE:DE opened at $608.73 on Friday. The company has a quick ratio of 1.95, a current ratio of 2.18 and a debt-to-equity ratio of 1.54. Deere & Company has a 1-year low of $433.00 and a 1-year high of $674.19. The firm has a market capitalization of $164.32 billion, a price-to-earnings ratio of 34.49, a price-to-earnings-growth ratio of 2.59 and a beta of 0.90. The stock has a fifty day simple moving average of $603.23 and a 200 day simple moving average of $587.77.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share for the quarter, topping analysts’ consensus estimates of $5.70 by $0.85. The firm had revenue of $13.37 billion for the quarter, compared to analysts’ expectations of $11.55 billion. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.Deere & Company’s revenue was up 5.4% on a year-over-year basis. During the same quarter last year, the business posted $6.64 EPS. Sell-side analysts forecast that Deere & Company will post 18.26 earnings per share for the current year.

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 10th. Stockholders of record on Tuesday, June 30th were given a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Tuesday, June 30th. Deere & Company’s dividend payout ratio (DPR) is 36.71%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on DE. Truist Financial upped their price target on shares of Deere & Company from $759.00 to $812.00 and gave the company a “buy” rating in a report on Thursday, July 2nd. Robert W. Baird lowered their price objective on shares of Deere & Company from $580.00 to $525.00 and set a “neutral” rating on the stock in a research note on Friday, May 22nd. Royal Bank Of Canada reiterated an “outperform” rating and issued a $752.00 target price on shares of Deere & Company in a report on Monday, June 1st. Bank of America cut their target price on shares of Deere & Company from $672.00 to $607.50 and set a “neutral” rating for the company in a research note on Friday, May 22nd. Finally, JPMorgan Chase & Co. reduced their target price on shares of Deere & Company from $590.00 to $570.00 and set a “neutral” rating for the company in a report on Friday. Fourteen research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $641.98.

About Deere & Company

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.