Hennion & Walsh Asset Management Inc. Has $2.68 Million Stake in Deere & Company $DE

Hennion & Walsh Asset Management Inc. raised its position in Deere & Company (NYSE:DE) by 24.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,222 shares of the industrial products company’s stock after acquiring an additional 838 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Deere & Company were worth $2,678,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of DE. Norges Bank bought a new position in Deere & Company during the fourth quarter worth about $1,715,633,000. Capital World Investors raised its stake in Deere & Company by 53.9% in the fourth quarter. Capital World Investors now owns 9,592,004 shares of the industrial products company’s stock valued at $4,465,906,000 after buying an additional 3,358,264 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in shares of Deere & Company by 1,725.8% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,003,715 shares of the industrial products company’s stock valued at $932,870,000 after buying an additional 1,893,972 shares during the last quarter. M&T Bank Corp lifted its position in shares of Deere & Company by 1,199.8% in the fourth quarter. M&T Bank Corp now owns 1,864,701 shares of the industrial products company’s stock valued at $868,149,000 after buying an additional 1,721,239 shares during the last quarter. Finally, Diamant Asset Management Inc. boosted its stake in shares of Deere & Company by 56,230.0% during the 1st quarter. Diamant Asset Management Inc. now owns 610,617 shares of the industrial products company’s stock worth $343,961,000 after acquiring an additional 609,533 shares during the period. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Price Performance

NYSE:DE opened at $608.68 on Tuesday. Deere & Company has a 52 week low of $433.00 and a 52 week high of $674.19. The firm has a market cap of $164.31 billion, a price-to-earnings ratio of 34.49, a P/E/G ratio of 2.62 and a beta of 0.90. The firm’s 50-day simple moving average is $600.93 and its 200 day simple moving average is $585.63. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.95 and a current ratio of 2.18.

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

Deere & Company Announces Dividend

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

Analysts Set New Price Targets

DE has been the topic of a number of recent analyst reports. Oppenheimer reissued an “outperform” rating and set a $680.00 target price (down from $715.00) on shares of Deere & Company in a report on Wednesday, May 27th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $752.00 price objective on shares of Deere & Company in a report on Monday, June 1st. Raymond James Financial decreased their price objective on shares of Deere & Company from $765.00 to $700.00 and set an “outperform” rating on the stock in a report on Friday, May 22nd. Truist Financial raised their target price on shares of Deere & Company from $759.00 to $812.00 and gave the stock a “buy” rating in a research note on Thursday, July 2nd. Finally, Robert W. Baird reduced their target price on shares of Deere & Company from $580.00 to $525.00 and set a “neutral” rating for the company in a report on Friday, May 22nd. Fourteen equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $642.98.

Deere & 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.