Principle Wealth Partners LLC Invests $770,000 in Deere & Company $DE

Principle Wealth Partners LLC bought a new position in shares of 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 bought 1,214 shares of the industrial products company’s stock, valued at approximately $770,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in DE. Requisite Capital Management LLC purchased a new position in Deere & Company in the second quarter valued at approximately $311,000. Focused Wealth Management Inc acquired a new stake in Deere & Company during the second quarter worth approximately $207,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Deere & Company during the 2nd quarter worth approximately $383,111,000. OneDigital Investment Advisors LLC acquired a new position in shares of Deere & Company in the 2nd quarter valued at $5,150,000. Finally, Firetrail Investments PTY Ltd. acquired a new position in shares of Deere & Company in the 2nd quarter valued at $14,565,000. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Stock Down 1.4%

Shares of NYSE:DE opened at $600.08 on Tuesday. Deere & Company has a 1-year low of $433.00 and a 1-year high of $674.19. The company has a debt-to-equity ratio of 1.54, a current ratio of 2.18 and a quick ratio of 1.95. The stock has a market cap of $161.99 billion, a P/E ratio of 34.00, a P/E/G ratio of 2.57 and a beta of 0.90. The firm has a fifty day moving average price of $603.76 and a 200 day moving average price of $588.84.

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

Deere & Company Dividend Announcement

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

Analyst Ratings Changes

Several equities research analysts recently commented on DE shares. Oppenheimer reiterated an “outperform” rating and set a $680.00 price target (down from $715.00) on shares of Deere & Company in a research note on Wednesday, May 27th. JPMorgan Chase & Co. decreased their price objective on shares of Deere & Company from $590.00 to $570.00 and set a “neutral” rating for the company in a research note on Friday. Royal Bank Of Canada restated an “outperform” rating and issued a $752.00 price objective on shares of Deere & Company in a research note on Monday, June 1st. Seaport Research Partners set a $570.00 price objective on Deere & Company in a report on Friday. Finally, Truist Financial lifted their target price on Deere & Company from $759.00 to $812.00 and gave the stock a “buy” rating in a research report on Thursday, July 2nd. Fourteen analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $641.98.

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.