Welch & Forbes LLC Has $3.25 Million Holdings in Deere & Company $DE

Welch & Forbes LLC boosted its holdings in Deere & Company (NYSE:DE) by 9.3% during the 2nd quarter, Holdings Channel.com reports. The fund owned 6,386 shares of the industrial products company’s stock after purchasing an additional 543 shares during the quarter. Welch & Forbes LLC’s holdings in Deere & Company were worth $3,247,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Southland Equity Partners LLC lifted its holdings 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 purchasing an additional 20 shares in the last quarter. Vivid Wealth Management LLC raised its position in Deere & Company by 1.9% in the 2nd quarter. Vivid Wealth Management LLC now owns 1,088 shares of the industrial products company’s stock valued at $553,000 after buying an additional 20 shares during the last quarter. Werba Rubin Papier Wealth Management lifted its stake in Deere & Company by 3.0% during the 2nd quarter. Werba Rubin Papier Wealth Management now owns 676 shares of the industrial products company’s stock valued at $344,000 after acquiring an additional 20 shares in the last quarter. Prairie Wealth Advisors Inc. lifted its stake in Deere & Company by 2.1% during the 2nd quarter. Prairie Wealth Advisors Inc. now owns 964 shares of the industrial products company’s stock valued at $492,000 after acquiring an additional 20 shares in the last quarter. Finally, Chicago Partners Investment Group LLC boosted its holdings in Deere & Company by 1.2% during the 1st 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. 68.58% of the stock is owned by institutional investors.

Deere & Company Trading Down 0.9%

Shares of DE stock opened at $461.41 on Monday. 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 firm has a market cap of $124.73 billion, a P/E ratio of 24.12, a PEG ratio of 3.05 and a beta of 1.02. The company has a 50 day moving average of $467.74 and a 200-day moving average of $489.95. Deere & Company has a 12-month low of $387.03 and a 12-month high of $533.78.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, August 14th. The industrial products company reported $4.75 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $10.33 billion. During the same quarter in the prior year, the business earned $6.29 earnings per share. Deere & Company’s revenue for the quarter was down 9.0% on a year-over-year basis. Sell-side analysts anticipate that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Tuesday, September 30th will be issued a $1.62 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.48 annualized dividend and a yield of 1.4%. Deere & Company’s dividend payout ratio (DPR) is 33.87%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on DE shares. Citigroup lowered their target price on shares of Deere & Company from $525.00 to $515.00 and set a “neutral” rating for the company in a report on Tuesday, October 7th. UBS Group reiterated a “buy” rating on shares of Deere & Company in a research note on Tuesday, October 28th. Zacks Research downgraded Deere & Company from a “hold” rating to a “strong sell” rating in a research note on Monday, October 20th. Robert W. Baird decreased their price target on Deere & Company from $488.00 to $467.00 and set a “neutral” rating for the company in a research report on Monday, October 13th. Finally, Oppenheimer dropped their price target on Deere & Company from $566.00 to $512.00 and set an “outperform” rating on the stock in a report on Thursday, September 18th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $518.72.

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.