Moss Adams Wealth Advisors LLC Purchases Shares of 497 Deere & Company (NYSE:DE)

Moss Adams Wealth Advisors LLC acquired a new stake in shares of Deere & Company (NYSE:DE) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 497 shares of the industrial products company’s stock, valued at approximately $234,000.

A number of other institutional investors and hedge funds have also made changes to their positions in DE. Pineridge Advisors LLC raised its holdings in Deere & Company by 60.5% in the fourth quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock valued at $29,000 after buying an additional 26 shares during the period. Orion Capital Management LLC acquired a new stake in shares of Deere & Company in the fourth quarter worth $34,000. Mascagni Wealth Management Inc. purchased a new position in shares of Deere & Company in the 4th quarter valued at $39,000. Dogwood Wealth Management LLC purchased a new position in shares of Deere & Company in the 4th quarter valued at $42,000. Finally, Wood Tarver Financial Group LLC acquired a new position in shares of Deere & Company during the 4th quarter valued at $43,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Stock Up 0.3%

Shares of Deere & Company stock opened at $521.63 on Tuesday. The business has a 50-day moving average price of $480.22 and a 200 day moving average price of $467.10. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $533.78. The firm has a market cap of $141.27 billion, a P/E ratio of 23.12, a P/E/G ratio of 2.14 and a beta of 1.09. The company has a quick ratio of 1.98, a current ratio of 2.22 and a debt-to-equity ratio of 1.94.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share for the quarter, beating analysts’ consensus estimates of $5.72 by $0.92. The business had revenue of $11.17 billion during the quarter, compared to the consensus estimate of $10.80 billion. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. The business’s quarterly revenue was down 17.9% on a year-over-year basis. During the same period in the previous year, the business earned $8.53 EPS. On average, sell-side analysts forecast that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Monday, June 30th will be paid a dividend of $1.62 per share. The ex-dividend date is Monday, June 30th. This represents a $6.48 annualized dividend and a yield of 1.24%. Deere & Company’s payout ratio is 31.35%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on DE shares. DA Davidson reiterated a “buy” rating and issued a $542.00 price target on shares of Deere & Company in a report on Friday, May 16th. Raymond James increased their target price on Deere & Company from $530.00 to $560.00 and gave the company an “outperform” rating in a research note on Friday, May 16th. Morgan Stanley raised their target price on Deere & Company from $450.00 to $500.00 and gave the company an “overweight” rating in a report on Wednesday, April 16th. The Goldman Sachs Group restated a “buy” rating on shares of Deere & Company in a research note on Thursday, May 15th. Finally, UBS Group dropped their target price on Deere & Company from $462.00 to $440.00 and set a “neutral” rating on the stock in a research report on Monday, April 7th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $515.19.

About Deere & Company

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.