Moloney Securities Asset Management LLC Grows Holdings in Deere & Company $DE

Moloney Securities Asset Management LLC raised its position in Deere & Company (NYSE:DE) by 3.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,648 shares of the industrial products company’s stock after purchasing an additional 49 shares during the period. Moloney Securities Asset Management LLC’s holdings in Deere & Company were worth $838,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in DE. Mid American Wealth Advisory Group Inc. purchased a new position in shares of Deere & Company during the 2nd quarter worth about $25,000. Activest Wealth Management lifted its holdings in shares of Deere & Company by 2,750.0% during the 1st quarter. Activest Wealth Management now owns 57 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 55 shares during the period. Hughes Financial Services LLC purchased a new position in shares of Deere & Company during the 1st quarter worth about $29,000. Cornerstone Planning Group LLC lifted its holdings in shares of Deere & Company by 116.1% during the 1st quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 36 shares during the period. Finally, Marshall & Sullivan Inc. WA purchased a new position in shares of Deere & Company during the 2nd quarter worth about $38,000. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently commented on DE. Daiwa Capital Markets cut their price target on shares of Deere & Company from $565.00 to $530.00 and set an “outperform” rating on the stock in a report on Thursday, September 25th. Truist Financial increased their price objective on shares of Deere & Company from $602.00 to $609.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. Evercore ISI set a $491.00 price objective on shares of Deere & Company in a research report on Tuesday, August 19th. Zacks Research downgraded shares of Deere & Company from a “hold” rating to a “strong sell” rating in a research report on Monday, October 20th. Finally, Robert W. Baird lowered their price objective on shares of Deere & Company from $488.00 to $467.00 and set a “neutral” rating for the company in a research report on Monday, October 13th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $518.72.

Deere & Company Stock Up 0.8%

DE stock opened at $473.01 on Friday. Deere & Company has a twelve month low of $387.03 and a twelve month high of $533.78. The company has a current ratio of 2.19, a quick ratio of 1.98 and a debt-to-equity ratio of 1.76. The company has a market capitalization of $127.87 billion, a P/E ratio of 24.73, a PEG ratio of 3.02 and a beta of 1.02. The firm has a 50 day simple moving average of $469.88 and a 200-day simple moving average of $488.49.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, August 14th. The industrial products company reported $4.75 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $10.33 billion. During the same period last year, the business posted $6.29 earnings per share. The firm’s revenue for the quarter was down 9.0% on a year-over-year basis. On average, equities research analysts predict that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Investors 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 yield of 1.4%. Deere & Company’s dividend payout ratio (DPR) is 33.87%.

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.