Powers Advisory Group LLC Has $1.02 Million Stock Holdings in Deere & Company (NYSE:DE)

Powers Advisory Group LLC lessened its holdings in Deere & Company (NYSE:DE) by 3.1% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,168 shares of the industrial products company’s stock after selling 70 shares during the period. Powers Advisory Group LLC’s holdings in Deere & Company were worth $1,017,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Orion Capital Management LLC acquired a new stake in shares of Deere & Company during the fourth quarter worth approximately $34,000. Mascagni Wealth Management Inc. acquired a new stake in shares of Deere & Company during the fourth quarter worth approximately $39,000. Dogwood Wealth Management LLC acquired a new stake in shares of Deere & Company during the fourth quarter worth approximately $42,000. Sierra Ocean LLC acquired a new stake in shares of Deere & Company during the fourth quarter worth approximately $44,000. Finally, Wood Tarver Financial Group LLC acquired a new stake in shares of Deere & Company during the fourth quarter worth approximately $43,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Price Performance

Shares of DE stock opened at $509.04 on Friday. Deere & Company has a 52-week low of $340.20 and a 52-week high of $533.78. The stock has a market cap of $137.86 billion, a PE ratio of 22.56, a PEG ratio of 2.14 and a beta of 1.09. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.98 and a current ratio of 2.22. The firm’s 50 day moving average price is $487.24 and its two-hundred day moving average price is $468.51.

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

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Monday, June 30th will be issued a $1.62 dividend. The ex-dividend date is Monday, June 30th. This represents a $6.48 annualized dividend and a yield of 1.27%. Deere & Company’s dividend payout ratio (DPR) is presently 31.35%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Bank of America raised their price objective on shares of Deere & Company from $495.00 to $556.00 and gave the stock a “neutral” rating in a report on Friday, May 16th. BMO Capital Markets reissued a “market perform” rating and set a $460.00 price target (up from $425.00) on shares of Deere & Company in a research note on Wednesday, May 21st. Barclays increased their price target on shares of Deere & Company from $475.00 to $530.00 and gave the company an “overweight” rating in a research note on Friday, May 16th. Oppenheimer increased their price target on shares of Deere & Company from $513.00 to $555.00 and gave the company an “outperform” rating in a research note on Friday, May 16th. Finally, Raymond James increased their price target on shares of Deere & Company from $530.00 to $560.00 and gave the company an “outperform” rating in a research note on Friday, May 16th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $515.19.

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.