Wallington Asset Management LLC Purchases 331 Shares of Deere & Company $DE

Wallington Asset Management LLC increased its position in Deere & Company (NYSE:DE) by 1.3% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,714 shares of the industrial products company’s stock after purchasing an additional 331 shares during the period. Deere & Company makes up 1.9% of Wallington Asset Management LLC’s investment portfolio, making the stock its 24th largest holding. Wallington Asset Management LLC’s holdings in Deere & Company were worth $13,584,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Activest Wealth Management lifted its holdings in shares of Deere & Company by 2,750.0% in the 1st quarter. Activest Wealth Management now owns 57 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 55 shares in the last quarter. Hughes Financial Services LLC purchased a new stake in Deere & Company in the 1st quarter valued at $29,000. Cornerstone Planning Group LLC raised its position in Deere & Company by 116.1% in the 1st quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company’s stock valued at $31,000 after buying an additional 36 shares during the last quarter. Marshall & Sullivan Inc. WA purchased a new stake in Deere & Company in the 2nd quarter valued at $38,000. Finally, Livelsberger Financial Advisory purchased a new stake in Deere & Company in the 2nd quarter valued at $39,000. 68.58% of the stock is currently owned by institutional investors.

Deere & Company Trading Up 0.2%

Shares of Deere & Company stock opened at $462.59 on Friday. Deere & Company has a 1 year low of $387.03 and a 1 year high of $533.78. The firm has a market cap of $125.05 billion, a PE ratio of 24.18, a P/E/G ratio of 2.97 and a beta of 1.02. The stock has a fifty day moving average price of $484.64 and a 200-day moving average price of $489.09. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.19 and a quick ratio of 1.98.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.62 by $0.13. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The firm had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.33 billion. During the same period last year, the firm posted $6.29 EPS. The business’s revenue was down 9.0% compared to the same quarter last year. Equities research analysts anticipate that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Tuesday, September 30th will be paid a dividend of $1.62 per share. The ex-dividend date is Tuesday, September 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.4%. Deere & Company’s dividend payout ratio is presently 33.87%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Wall Street Zen raised Deere & Company from a “sell” rating to a “hold” rating in a research report on Saturday. JPMorgan Chase & Co. lowered their price target on Deere & Company from $500.00 to $495.00 and set a “neutral” rating for the company in a research report on Tuesday, September 2nd. Melius Research raised Deere & Company from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 6th. Wolfe Research lowered their price target on Deere & Company from $550.00 to $520.00 and set an “outperform” rating for the company in a research report on Friday. Finally, Truist Financial lowered their price target on Deere & Company from $619.00 to $602.00 and set a “buy” rating for the company in a research report on Friday, August 15th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat.com, Deere & Company presently has a consensus rating of “Moderate Buy” and an average price target of $518.18.

Deere & 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.