Ashton Thomas Securities LLC Boosts Position in Deere & Company $DE

Ashton Thomas Securities LLC boosted its position in shares of Deere & Company (NYSE:DE) by 58.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,133 shares of the industrial products company’s stock after purchasing an additional 416 shares during the quarter. Ashton Thomas Securities LLC’s holdings in Deere & Company were worth $576,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Activest Wealth Management increased its stake in Deere & Company by 2,750.0% in the first quarter. Activest Wealth Management now owns 57 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 55 shares during the last quarter. Hughes Financial Services LLC purchased a new stake in shares of Deere & Company in the first quarter worth about $29,000. Cornerstone Planning Group LLC boosted its position in shares of Deere & Company by 116.1% in the first quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company’s stock worth $31,000 after buying an additional 36 shares during the period. Marshall & Sullivan Inc. WA purchased a new stake in shares of Deere & Company in the second quarter worth about $38,000. Finally, Livelsberger Financial Advisory purchased a new stake in shares of Deere & Company in the second quarter worth about $39,000. 68.58% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on DE. Truist Financial reduced their price target on Deere & Company from $619.00 to $602.00 and set a “buy” rating for the company in a report on Friday, August 15th. Daiwa Capital Markets cut their price objective on Deere & Company from $565.00 to $530.00 and set an “outperform” rating on the stock in a research note on Thursday, September 25th. DA Davidson cut their price objective on Deere & Company from $595.00 to $580.00 and set a “buy” rating on the stock in a research note on Monday, August 18th. Evercore ISI set a $491.00 price objective on Deere & Company in a research note on Tuesday, August 19th. Finally, Oppenheimer cut their price objective on Deere & Company from $566.00 to $512.00 and set an “outperform” rating on the stock in a research note on Thursday, September 18th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $518.06.

Deere & Company Stock Performance

Shares of Deere & Company stock opened at $461.88 on Friday. Deere & Company has a 12 month low of $387.03 and a 12 month high of $533.78. The business has a fifty day simple moving average of $485.74 and a 200-day simple moving average of $489.22. The company has a quick ratio of 1.98, a current ratio of 2.19 and a debt-to-equity ratio of 1.76. The stock has a market cap of $124.86 billion, a PE ratio of 24.14, a price-to-earnings-growth ratio of 2.91 and a beta of 1.03.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share for the quarter, beating the consensus estimate of $4.62 by $0.13. The company had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.33 billion. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The business’s revenue was down 9.0% compared to the same quarter last year. During the same period last year, the company earned $6.29 earnings per share. On average, sell-side analysts anticipate that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Tuesday, September 30th will be issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Tuesday, September 30th. Deere & Company’s payout ratio is presently 33.87%.

About Deere & Company

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.