Aspen Wealth Strategies LLC Grows Position in Deere & Company (NYSE:DE)

Aspen Wealth Strategies LLC raised its position in shares of Deere & Company (NYSE:DE) by 27.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,187 shares of the industrial products company’s stock after buying an additional 681 shares during the quarter. Deere & Company comprises 0.9% of Aspen Wealth Strategies LLC’s portfolio, making the stock its 23rd biggest holding. Aspen Wealth Strategies LLC’s holdings in Deere & Company were worth $1,274,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in DE. Moneta Group Investment Advisors LLC boosted its holdings in shares of Deere & Company by 104,373.8% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 3,219,883 shares of the industrial products company’s stock worth $1,380,557,000 after purchasing an additional 3,216,801 shares during the period. Norges Bank purchased a new position in shares of Deere & Company in the 4th quarter worth approximately $1,326,177,000. International Assets Investment Management LLC boosted its holdings in shares of Deere & Company by 46,241.1% in the 4th quarter. International Assets Investment Management LLC now owns 840,627 shares of the industrial products company’s stock worth $336,142,000 after purchasing an additional 838,813 shares during the period. Morgan Stanley boosted its holdings in shares of Deere & Company by 13.8% in the 4th quarter. Morgan Stanley now owns 4,576,183 shares of the industrial products company’s stock worth $1,962,085,000 after purchasing an additional 554,133 shares during the period. Finally, First Trust Advisors LP boosted its holdings in shares of Deere & Company by 561.5% in the 1st quarter. First Trust Advisors LP now owns 531,339 shares of the industrial products company’s stock worth $219,379,000 after purchasing an additional 451,019 shares during the period. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Wall Street Analysts Forecast Growth

DE has been the subject of a number of recent analyst reports. Melius Research restated a “hold” rating on shares of Deere & Company in a report on Monday, January 8th. Wells Fargo & Company dropped their price objective on Deere & Company from $445.00 to $425.00 and set an “overweight” rating for the company in a report on Friday, February 16th. Truist Financial assumed coverage on Deere & Company in a report on Thursday, March 14th. They set a “buy” rating and a $494.00 price objective for the company. Evercore ISI lifted their target price on Deere & Company from $381.00 to $387.00 and gave the company an “in-line” rating in a research report on Tuesday, February 20th. Finally, Citigroup decreased their target price on Deere & Company from $450.00 to $435.00 and set a “buy” rating for the company in a research report on Friday, February 16th. Ten investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $433.28.

Deere & Company Stock Performance

Shares of DE traded down $0.69 during mid-day trading on Tuesday, reaching $393.11. The company had a trading volume of 1,865,357 shares, compared to its average volume of 1,501,141. Deere & Company has a 52-week low of $345.55 and a 52-week high of $450.00. The company has a quick ratio of 1.81, a current ratio of 2.05 and a debt-to-equity ratio of 1.81. The stock has a market capitalization of $109.43 billion, a P/E ratio of 11.38, a PEG ratio of 1.49 and a beta of 1.04. The stock has a 50 day moving average of $384.87 and a two-hundred day moving average of $382.45.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, February 15th. The industrial products company reported $6.23 EPS for the quarter, topping analysts’ consensus estimates of $5.19 by $1.04. Deere & Company had a return on equity of 44.60% and a net margin of 16.38%. The firm had revenue of $10.49 billion for the quarter, compared to the consensus estimate of $10.30 billion. During the same quarter in the prior year, the business earned $6.55 earnings per share. The company’s revenue was down 8.0% compared to the same quarter last year. On average, analysts expect that Deere & Company will post 27.41 earnings per share for the current year.

Deere & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Friday, March 29th will be issued a $1.47 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $5.88 dividend on an annualized basis and a yield of 1.50%. Deere & Company’s payout ratio is 17.12%.

Deere & Company Company Profile

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.