Silvia Mccoll Wealth Management LLC Buys New Shares in Deere & Company (NYSE:DE)

Silvia Mccoll Wealth Management LLC bought a new stake in Deere & Company (NYSE:DE) during the first quarter, HoldingsChannel reports. The firm bought 577 shares of the industrial products company’s stock, valued at approximately $238,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. True Wealth Design LLC increased its position in Deere & Company by 1,180.0% during the fourth quarter. True Wealth Design LLC now owns 64 shares of the industrial products company’s stock worth $26,000 after buying an additional 59 shares during the last quarter. ZRC Wealth Management LLC acquired a new position in Deere & Company during the fourth quarter worth approximately $28,000. Rakuten Securities Inc. acquired a new position in shares of Deere & Company in the fourth quarter valued at approximately $28,000. Naples Money Management LLC acquired a new position in shares of Deere & Company in the fourth quarter valued at approximately $29,000. Finally, Private Wealth Management Group LLC acquired a new position in shares of Deere & Company in the fourth quarter valued at approximately $29,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Oppenheimer reaffirmed an “outperform” rating and issued a $456.00 target price on shares of Deere & Company in a research report on Thursday, May 16th. Daiwa Capital Markets upped their target price on Deere & Company from $400.00 to $420.00 and gave the company an “overweight” rating in a research report on Wednesday, May 15th. Morgan Stanley upped their target price on Deere & Company from $430.00 to $450.00 in a research report on Wednesday, May 15th. Raymond James assumed coverage on Deere & Company in a research report on Friday. They issued an “outperform” rating and a $420.00 target price on the stock. Finally, TD Cowen upped their target price on Deere & Company from $383.00 to $390.00 and gave the company a “hold” rating in a research report on Friday, May 17th. Eleven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, Deere & Company has a consensus rating of “Hold” and an average price target of $430.55.

Insider Transactions at Deere & Company

In other news, insider Cory J. Reed sold 13,370 shares of the company’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $377.63, for a total transaction of $5,048,913.10. Following the completion of the transaction, the insider now directly owns 41,642 shares in the company, valued at $15,725,268.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.26% of the company’s stock.

Deere & Company Price Performance

NYSE DE traded down $12.86 on Monday, hitting $360.77. 1,456,844 shares of the company’s stock were exchanged, compared to its average volume of 1,518,528. The stock has a 50-day moving average of $385.32 and a 200-day moving average of $387.29. The company has a current ratio of 2.01, a quick ratio of 1.80 and a debt-to-equity ratio of 1.81. Deere & Company has a 52 week low of $353.15 and a 52 week high of $450.00. The stock has a market cap of $99.42 billion, a price-to-earnings ratio of 10.87, a P/E/G ratio of 1.50 and a beta of 0.93.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, May 16th. The industrial products company reported $8.53 earnings per share for the quarter, topping the consensus estimate of $7.86 by $0.67. The firm had revenue of $13.61 billion during the quarter, compared to analysts’ expectations of $13.29 billion. Deere & Company had a return on equity of 42.26% and a net margin of 16.15%. The company’s quarterly revenue was down 15.4% on a year-over-year basis. During the same period in the prior year, the company earned $9.65 earnings per share. Analysts expect that Deere & Company will post 25.61 earnings per share for the current year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 8th. Stockholders of record on Friday, June 28th will be issued a dividend of $1.47 per share. The ex-dividend date is Friday, June 28th. This represents a $5.88 annualized dividend and a dividend yield of 1.63%. Deere & Company’s dividend payout ratio (DPR) is presently 17.70%.

About Deere & Company

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.