Kingsview Wealth Management LLC Invests $8.62 Million in Deere & Company $DE

Kingsview Wealth Management LLC purchased a new position in Deere & Company (NYSE:DE) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 13,591 shares of the industrial products company’s stock, valued at approximately $8,621,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Inc. acquired a new stake in shares of Deere & Company during the 2nd quarter worth approximately $11,763,504,000. Norges Bank bought a new stake in Deere & Company during the 4th quarter worth $1,715,633,000. Capital World Investors grew its holdings in shares of Deere & Company by 53.9% during the fourth quarter. Capital World Investors now owns 9,592,004 shares of the industrial products company’s stock worth $4,465,906,000 after purchasing an additional 3,358,264 shares during the last quarter. Bank of America Corp DE acquired a new position in Deere & Company in the 2nd quarter valued at approximately $1,685,093,000. Finally, Bank of New York Mellon Corp acquired a new stake in Deere & Company in the second quarter valued at $1,259,279,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Analysts Set New Price Targets

DE has been the topic of several analyst reports. Citigroup upped their target price on Deere & Company from $610.00 to $650.00 and gave the company a “neutral” rating in a report on Friday, August 21st. Royal Bank Of Canada reissued an “outperform” rating and set a $752.00 target price on shares of Deere & Company in a research note on Monday, August 24th. Seaport Research Partners set a $570.00 target price on shares of Deere & Company in a report on Friday, August 14th. Truist Financial cut their price target on shares of Deere & Company from $812.00 to $804.00 and set a “buy” rating on the stock in a research report on Monday. Finally, Bank of America decreased their price target on Deere & Company from $672.00 to $607.50 and set a “neutral” rating for the company in a report on Friday, May 22nd. Fourteen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $653.48.

Deere & Company Stock Performance

NYSE:DE opened at $630.66 on Friday. Deere & Company has a twelve month low of $433.00 and a twelve month high of $674.19. The company has a quick ratio of 1.89, a current ratio of 2.10 and a debt-to-equity ratio of 1.45. The firm has a market capitalization of $170.24 billion, a P/E ratio of 35.04, a P/E/G ratio of 2.57 and a beta of 0.90. The company has a fifty day moving average of $611.59 and a 200-day moving average of $593.34.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, August 20th. The industrial products company reported $5.10 earnings per share for the quarter, beating the consensus estimate of $4.69 by $0.41. Deere & Company had a net margin of 10.16% and a return on equity of 18.10%. The firm had revenue of $12.61 billion for the quarter, compared to analyst estimates of $10.81 billion. During the same quarter in the prior year, the business earned $4.75 earnings per share. The business’s quarterly revenue was up 6.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Deere & Company will post 18.11 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 issued a dividend of $1.62 per share. The ex-dividend date is Wednesday, September 30th. This represents a $6.48 annualized dividend and a yield of 1.0%. Deere & Company’s dividend payout ratio is presently 36.00%.

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.