Welch Group LLC Grows Stake in Deere & Company $DE

Welch Group LLC raised its holdings in shares of Deere & Company (NYSE:DE) by 1.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,557 shares of the industrial products company’s stock after buying an additional 432 shares during the period. Welch Group LLC’s holdings in Deere & Company were worth $12,996,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of DE. Southland Equity Partners LLC lifted its position in shares of Deere & Company by 3.9% in the second quarter. Southland Equity Partners LLC now owns 534 shares of the industrial products company’s stock valued at $271,000 after acquiring an additional 20 shares in the last quarter. Vivid Wealth Management LLC increased its stake in Deere & Company by 1.9% during the second quarter. Vivid Wealth Management LLC now owns 1,088 shares of the industrial products company’s stock worth $553,000 after acquiring an additional 20 shares during the last quarter. Chicago Partners Investment Group LLC increased its stake in Deere & Company by 1.2% during the first quarter. Chicago Partners Investment Group LLC now owns 1,803 shares of the industrial products company’s stock worth $852,000 after acquiring an additional 21 shares during the last quarter. Tyler Stone Wealth Management boosted its position in shares of Deere & Company by 1.7% during the first quarter. Tyler Stone Wealth Management now owns 1,230 shares of the industrial products company’s stock worth $577,000 after buying an additional 21 shares during the period. Finally, McLean Asset Management Corp boosted its position in shares of Deere & Company by 4.0% during the second quarter. McLean Asset Management Corp now owns 544 shares of the industrial products company’s stock worth $283,000 after buying an additional 21 shares during the period. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on DE shares. Oppenheimer decreased their target price on Deere & Company from $566.00 to $512.00 and set an “outperform” rating for the company in a report on Thursday, September 18th. Evercore ISI set a $491.00 target price on Deere & Company in a research report on Tuesday, August 19th. Daiwa Capital Markets cut their target price on Deere & Company from $565.00 to $530.00 and set an “outperform” rating on the stock in a research report on Thursday, September 25th. Jefferies Financial Group dropped their price target on Deere & Company from $510.00 to $440.00 and set a “hold” rating on the stock in a research report on Wednesday, October 8th. Finally, Robert W. Baird dropped their price target on Deere & Company from $520.00 to $488.00 and set a “neutral” rating on the stock in a research report on Friday, August 15th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $513.88.

Deere & Company Stock Performance

NYSE:DE opened at $446.76 on Monday. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.19 and a quick ratio of 1.98. Deere & Company has a 1-year low of $387.03 and a 1-year high of $533.78. The firm has a 50-day moving average of $479.15 and a two-hundred day moving average of $488.45. The stock has a market cap of $120.77 billion, a P/E ratio of 23.35, a PEG ratio of 2.87 and a beta of 1.02.

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

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Tuesday, September 30th will be issued a dividend of $1.62 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.48 annualized dividend and a yield of 1.5%. Deere & Company’s payout ratio is presently 33.87%.

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.