Rowlandmiller & PARTNERS.ADV Acquires New Position in Deere & Company (NYSE:DE)

Rowlandmiller & PARTNERS.ADV purchased a new position in shares of Deere & Company (NYSE:DE) during the 1st quarter, HoldingsChannel reports. The firm purchased 219 shares of the industrial products company’s stock, valued at approximately $103,000.

Other hedge funds also recently modified their holdings of the company. Price T Rowe Associates Inc. MD boosted its holdings in Deere & Company by 19.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,589,760 shares of the industrial products company’s stock valued at $2,792,082,000 after purchasing an additional 1,095,736 shares during the period. Capital World Investors boosted its stake in Deere & Company by 2.7% during the 4th quarter. Capital World Investors now owns 6,058,259 shares of the industrial products company’s stock worth $2,566,884,000 after acquiring an additional 157,224 shares during the last quarter. FMR LLC lifted its stake in Deere & Company by 22.9% in the fourth quarter. FMR LLC now owns 5,581,408 shares of the industrial products company’s stock valued at $2,364,843,000 after buying an additional 1,039,395 shares in the last quarter. Geode Capital Management LLC lifted its stake in Deere & Company by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 5,305,571 shares of the industrial products company’s stock valued at $2,247,216,000 after buying an additional 97,203 shares in the last quarter. Finally, Norges Bank bought a new position in Deere & Company in the fourth quarter valued at approximately $1,244,094,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on DE. Melius Research raised shares of Deere & Company from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 6th. Truist Financial upped their price objective on shares of Deere & Company from $546.00 to $619.00 and gave the company a “buy” rating in a report on Friday, May 16th. DA Davidson reiterated a “buy” rating and issued a $542.00 price objective on shares of Deere & Company in a report on Friday, May 16th. Evercore ISI upped their price target on shares of Deere & Company from $455.00 to $493.00 and gave the company an “in-line” rating in a research note on Monday, May 19th. Finally, UBS Group reduced their price objective on shares of Deere & Company from $462.00 to $440.00 and set a “neutral” rating on the stock in a research note on Monday, April 7th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Deere & Company currently has a consensus rating of “Hold” and an average price target of $515.19.

Deere & Company Stock Performance

NYSE:DE opened at $515.42 on Wednesday. The company has a market capitalization of $139.59 billion, a PE ratio of 22.85, a P/E/G ratio of 2.14 and a beta of 1.09. The company has a 50 day simple moving average of $481.59 and a two-hundred day simple moving average of $467.44. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.98 and a current ratio of 2.22. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $533.78.

Deere & Company (NYSE:DE) last released its 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 net margin of 12.94% and a return on equity of 27.31%. The company’s revenue for the quarter was down 17.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $8.53 EPS. Research analysts anticipate that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Monday, June 30th will be given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 1.26%. The ex-dividend date of this dividend is Monday, June 30th. Deere & Company’s dividend payout ratio (DPR) is 31.35%.

Deere & Company Company Profile

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.