Northwestern Mutual Wealth Management Co. raised its stake in shares of Deere & Company (NYSE:DE – Free Report) by 21.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 132,736 shares of the industrial products company’s stock after purchasing an additional 22,993 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Deere & Company were worth $61,798,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of DE. Brighton Jones LLC increased its position in Deere & Company by 39.1% during the fourth quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company’s stock worth $1,927,000 after purchasing an additional 1,278 shares during the last quarter. Schnieders Capital Management LLC. increased its position in shares of Deere & Company by 7.8% in the second quarter. Schnieders Capital Management LLC. now owns 2,076 shares of the industrial products company’s stock worth $1,056,000 after acquiring an additional 150 shares in the last quarter. Jump Financial LLC acquired a new stake in shares of Deere & Company in the second quarter worth $2,153,000. NewEdge Advisors LLC increased its position in shares of Deere & Company by 6.0% in the second quarter. NewEdge Advisors LLC now owns 18,758 shares of the industrial products company’s stock worth $9,538,000 after acquiring an additional 1,067 shares in the last quarter. Finally, Main Street Financial Solutions LLC increased its position in shares of Deere & Company by 6.7% in the second quarter. Main Street Financial Solutions LLC now owns 1,551 shares of the industrial products company’s stock worth $789,000 after acquiring an additional 97 shares in the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.
Deere & Company Price Performance
Shares of DE stock opened at $542.34 on Friday. The company has a market capitalization of $146.49 billion, a PE ratio of 30.73, a price-to-earnings-growth ratio of 2.01 and a beta of 0.96. The firm has a fifty day simple moving average of $572.29 and a 200-day simple moving average of $542.07. The company has a current ratio of 2.18, a quick ratio of 1.95 and a debt-to-equity ratio of 1.54. Deere & Company has a twelve month low of $433.00 and a twelve month high of $674.19.
Deere & Company Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Tuesday, June 30th will be paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Tuesday, June 30th. Deere & Company’s dividend payout ratio is 36.71%.
Wall Street Analyst Weigh In
Several research firms have recently issued reports on DE. Argus increased their price objective on shares of Deere & Company from $540.00 to $700.00 and gave the stock a “buy” rating in a research report on Tuesday, March 3rd. Wolfe Research increased their price objective on shares of Deere & Company from $550.00 to $660.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 31st. Royal Bank Of Canada increased their price objective on shares of Deere & Company from $736.00 to $752.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 26th. Wells Fargo & Company increased their price objective on shares of Deere & Company from $543.00 to $750.00 and gave the stock an “overweight” rating in a research report on Friday, February 20th. Finally, Jefferies Financial Group upgraded shares of Deere & Company from an “underperform” rating to a “hold” rating and set a $550.00 target price for the company in a research note on Wednesday, April 8th. Fifteen investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $638.08.
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.
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