Deere & Company (NYSE:DE) Shares Acquired by Abacus Wealth Partners LLC

Abacus Wealth Partners LLC lifted its position in shares of Deere & Company (NYSE:DEFree Report) by 21.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 800 shares of the industrial products company’s stock after purchasing an additional 142 shares during the period. Abacus Wealth Partners LLC’s holdings in Deere & Company were worth $329,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Envestnet Portfolio Solutions Inc. acquired a new stake in Deere & Company in the third quarter valued at $3,231,000. Envestnet Asset Management Inc. raised its holdings in Deere & Company by 19.2% in the third quarter. Envestnet Asset Management Inc. now owns 214,387 shares of the industrial products company’s stock valued at $80,905,000 after acquiring an additional 34,520 shares in the last quarter. Aigen Investment Management LP raised its holdings in Deere & Company by 16.1% in the third quarter. Aigen Investment Management LP now owns 2,344 shares of the industrial products company’s stock valued at $885,000 after acquiring an additional 325 shares in the last quarter. CI Investments Inc. raised its holdings in Deere & Company by 0.7% in the third quarter. CI Investments Inc. now owns 11,457 shares of the industrial products company’s stock valued at $4,324,000 after acquiring an additional 75 shares in the last quarter. Finally, Rathbones Group PLC raised its holdings in Deere & Company by 28.5% in the third quarter. Rathbones Group PLC now owns 448,696 shares of the industrial products company’s stock valued at $169,329,000 after acquiring an additional 99,568 shares in the last quarter. 68.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. JPMorgan Chase & Co. cut their price target on shares of Deere & Company from $425.00 to $385.00 and set a “neutral” rating on the stock in a report on Friday, May 17th. Morgan Stanley increased their target price on shares of Deere & Company from $430.00 to $450.00 in a report on Wednesday, May 15th. Stifel Nicolaus increased their target price on shares of Deere & Company from $425.00 to $450.00 and gave the stock a “buy” rating in a report on Friday, May 17th. Oppenheimer reissued an “outperform” rating and set a $456.00 target price on shares of Deere & Company in a report on Thursday, May 16th. Finally, DA Davidson dropped their target price on shares of Deere & Company from $483.00 to $465.00 and set a “buy” rating on the stock in a report on Monday, May 20th. Ten research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $433.36.

Read Our Latest Analysis on DE

Deere & Company Stock Performance

Shares of DE stock traded down $1.26 during trading hours on Thursday, reaching $381.50. The stock had a trading volume of 1,352,295 shares, compared to its average volume of 1,458,443. The company has a debt-to-equity ratio of 1.81, a current ratio of 2.01 and a quick ratio of 1.80. Deere & Company has a twelve month low of $353.15 and a twelve month high of $450.00. The firm has a 50-day simple moving average of $387.98 and a 200-day simple moving average of $386.55. The firm has a market capitalization of $105.13 billion, a PE ratio of 11.48, a price-to-earnings-growth ratio of 1.54 and a beta of 0.98.

Deere & Company (NYSE:DEGet Free Report) last released its quarterly earnings data on Thursday, May 16th. The industrial products company reported $8.53 earnings per share for the quarter, topping analysts’ consensus estimates of $7.86 by $0.67. The business had revenue of $13.61 billion for the quarter, compared to analysts’ expectations of $13.29 billion. Deere & Company had a net margin of 16.15% and a return on equity of 42.26%. The company’s revenue for the quarter was down 15.4% compared to the same quarter last year. During the same quarter last year, the company earned $9.65 EPS. As a group, equities analysts forecast that Deere & Company will post 25.61 earnings per share for the current year.

Deere & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 8th. Shareholders of record on Friday, June 28th will be paid a dividend of $1.47 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $5.88 annualized dividend and a yield of 1.54%. Deere & Company’s payout ratio is 17.70%.

Deere & Company Company Profile

(Free Report)

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.

Further Reading

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Institutional Ownership by Quarter for Deere & Company (NYSE:DE)

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