Wealth Enhancement Trust Services Inc. Takes $1.98 Million Position in Deere & Company $DE

Wealth Enhancement Trust Services Inc. bought a new position in Deere & Company (NYSE:DE) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 4,248 shares of the industrial products company’s stock, valued at approximately $1,978,000.

A number of other large investors have also made changes to their positions in DE. Strategic Advocates LLC purchased a new position in Deere & Company during the 3rd quarter worth approximately $25,000. Key Capital Management INC acquired a new stake in Deere & Company during the 4th quarter valued at $27,000. Activest Wealth Management lifted its holdings in shares of Deere & Company by 69.2% in the third quarter. Activest Wealth Management now owns 66 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 27 shares in the last quarter. Wealth Watch Advisors INC acquired a new stake in shares of Deere & Company in the third quarter worth $32,000. Finally, United Community Bank boosted its position in shares of Deere & Company by 67.3% in the third quarter. United Community Bank now owns 92 shares of the industrial products company’s stock worth $42,000 after buying an additional 37 shares during the period. Institutional investors and hedge funds own 68.58% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on DE shares. Morgan Stanley upped their price target on Deere & Company from $560.00 to $730.00 and gave the company an “overweight” rating in a research report on Monday, February 23rd. Oppenheimer reaffirmed an “outperform” rating and set a $715.00 target price on shares of Deere & Company in a research note on Friday, February 20th. Wall Street Zen upgraded Deere & Company from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. UBS Group increased their price target on shares of Deere & Company from $535.00 to $775.00 and gave the stock a “buy” rating in a research report on Friday, February 20th. Finally, Citigroup lowered their price objective on shares of Deere & Company from $675.00 to $625.00 and set a “neutral” rating on the stock in a research report on Monday, March 9th. Sixteen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Deere & Company presently has a consensus rating of “Moderate Buy” and a consensus target price of $655.45.

Deere & Company Trading Up 1.0%

Shares of NYSE:DE opened at $590.10 on Friday. The company has a current ratio of 2.21, a quick ratio of 1.96 and a debt-to-equity ratio of 1.59. The stock has a market capitalization of $159.39 billion, a PE ratio of 33.26, a P/E/G ratio of 2.04 and a beta of 0.98. Deere & Company has a 1 year low of $433.00 and a 1 year high of $674.19. The firm has a fifty day moving average price of $595.10 and a 200 day moving average price of $521.74.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, February 19th. The industrial products company reported $2.42 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.52. Deere & Company had a return on equity of 18.93% and a net margin of 10.29%.The company had revenue of $9.61 billion for the quarter, compared to analyst estimates of $7.50 billion. During the same period last year, the company earned $3.19 earnings per share. The business’s revenue was up 17.5% compared to the same quarter last year. Analysts expect that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 8th. Investors of record on Tuesday, March 31st will be paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Tuesday, March 31st. Deere & Company’s dividend payout ratio (DPR) is presently 36.53%.

Deere & Company Profile

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.