5,632 Deere & Company $DE Shares Bought by Confluence Wealth Services Inc.

Confluence Wealth Services Inc. increased its position in shares of Deere & Company (NYSE:DE) by 50.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,736 shares of the industrial products company’s stock after acquiring an additional 5,632 shares during the period. Confluence Wealth Services Inc.’s holdings in Deere & Company were worth $11,239,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in shares of Deere & Company in the 2nd quarter valued at $27,000. Kilter Group LLC acquired a new position in shares of Deere & Company during the 2nd quarter worth $29,000. Solstein Capital LLC acquired a new position in shares of Deere & Company during the 2nd quarter worth $30,000. Orion Capital Management LLC bought a new stake in shares of Deere & Company during the 2nd quarter worth $32,000. Finally, Downshift Financial LLC lifted its position in shares of Deere & Company by 218.8% during the 3rd quarter. Downshift Financial LLC now owns 51 shares of the industrial products company’s stock worth $34,000 after buying an additional 35 shares during the last quarter. 68.58% of the stock is owned by institutional investors.

Analyst Ratings Changes

DE has been the topic of several research analyst reports. CICC Research started coverage on Deere & Company in a research note on Sunday, September 13th. They issued an “outperform” rating on the stock. Truist Financial lowered their target price on Deere & Company from $812.00 to $804.00 and set a “buy” rating for the company in a research note on Monday, August 24th. Robert W. Baird raised Deere & Company from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $640.00 to $800.00 in a research note on Monday, August 31st. Royal Bank Of Canada reissued an “outperform” rating and issued a $752.00 target price on shares of Deere & Company in a report on Monday, August 24th. Finally, Barclays lifted their price target on shares of Deere & Company from $640.00 to $675.00 and gave the company an “overweight” rating in a report on Monday, August 24th. Seventeen investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, Deere & Company has a consensus rating of “Moderate Buy” and an average price target of $688.10.

Deere & Company Stock Down 0.6%

Shares of DE opened at $686.83 on Wednesday. Deere & Company has a 52 week low of $455.90 and a 52 week high of $721.22. The stock has a market capitalization of $185.18 billion, a price-to-earnings ratio of 38.16, a PEG ratio of 1.96 and a beta of 0.89. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.89 and a current ratio of 2.10. The stock has a fifty day moving average of $668.81 and a 200-day moving average of $609.76.

Deere & Company (NYSE:DE) last released 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. The company had revenue of $12.61 billion for the quarter, compared to the consensus estimate of $10.81 billion. Deere & Company had a return on equity of 18.10% and a net margin of 10.16%. Deere & Company’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same quarter last year, the business posted $4.75 EPS. As a group, sell-side analysts anticipate that Deere & Company will post 18.11 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, November 9th. Shareholders of record on Wednesday, September 30th were given a $1.62 dividend. The ex-dividend date was Wednesday, September 30th. This represents a $6.48 annualized dividend and a yield of 0.9%. Deere & Company’s dividend payout ratio (DPR) is currently 36.00%.

Key Stories Impacting Deere & Company

Here are the key news stories impacting Deere & Company this week:

• Positive Sentiment: ETF activity showed net interest in Deere: 36 ETFs added shares while 11 reduced holdings, and Capital Group Growth reported buying $87.4 million of Deere stock. ETF buying report Capital Group Growth report
• Neutral Sentiment: Deere added former Ernst & Young U.S. CEO Julie Boland to its board, bringing finance and governance experience. The related analysis said the shares were about 2% below its fair-value estimate, suggesting limited valuation cushion. Board and valuation analysis
• Negative Sentiment: Deere plans to end production at two Iowa plants and shift some work to other U.S. facilities and Brazil, while also moving production from Illinois and Louisiana. The company says the multiyear restructuring is intended to match capacity with demand; the closures and production shifts may nevertheless raise concerns about demand and the execution of the reorganization. Iowa plant closure report Production realignment report

Deere & Company Company Profile

Deere & Company, commonly known as John Deere, manufactures and distributes equipment and technology for agriculture, construction, forestry, and lawn care. Its products include tractors, combines, planting and spraying equipment, construction machinery, forestry equipment, and turf-care products, along with related parts and services. The company also provides precision agriculture technologies designed to help customers monitor and manage equipment and field operations. Through its Financial Services business, Deere offers financing and leasing options for equipment and related products.