Bellwether Advisors LLC Makes New $2.61 Million Investment in Deere & Company $DE

Bellwether Advisors LLC acquired a new stake in shares of Deere & Company (NYSE:DE) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,628 shares of the industrial products company’s stock, valued at approximately $2,607,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Portus Wealth Advisors LLC bought a new stake in Deere & Company in the first quarter worth $32,000. Key Capital Management INC bought a new position in Deere & Company during the fourth quarter valued at $27,000. Timmons Wealth Management LLC bought a new position in Deere & Company during the fourth quarter valued at $29,000. McIlrath & Eck LLC purchased a new stake in shares of Deere & Company in the fourth quarter valued at $30,000. Finally, Wealth Watch Advisors INC bought a new stake in shares of Deere & Company in the 3rd quarter worth about $32,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Bank of America dropped their price target on shares of Deere & Company from $672.00 to $607.50 and set a “neutral” rating for the company in a research note on Friday, May 22nd. Wolfe Research raised their price objective on shares of Deere & Company from $550.00 to $660.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 31st. Robert W. Baird dropped their target price on Deere & Company from $580.00 to $525.00 and set a “neutral” rating for the company in a research report on Friday, May 22nd. Truist Financial upped their target price on Deere & Company from $759.00 to $812.00 and gave the company a “buy” rating in a research note on Thursday, July 2nd. Finally, Wall Street Zen upgraded Deere & Company from a “sell” rating to a “hold” rating in a report on Sunday, July 5th. Fourteen research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $642.98.

Deere & Company Trading Up 0.4%

NYSE DE opened at $588.06 on Wednesday. The company’s 50-day moving average price is $582.48 and its 200-day moving average price is $573.70. The company has a current ratio of 2.18, a quick ratio of 1.95 and a debt-to-equity ratio of 1.54. The stock has a market cap of $158.74 billion, a PE ratio of 33.32, a PEG ratio of 2.15 and a beta of 0.89. Deere & Company has a 12 month low of $433.00 and a 12 month high of $674.19.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, May 21st. The industrial products company reported $6.55 earnings per share for the quarter, beating analysts’ consensus estimates of $5.70 by $0.85. The company had revenue of $13.37 billion during the quarter, compared to analyst estimates of $11.55 billion. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter last year, the business posted $6.64 EPS. Equities research analysts forecast that Deere & Company will post 18.27 earnings per share for the current year.

Deere & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Tuesday, June 30th will be given a dividend of $1.62 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.1%. Deere & Company’s dividend payout ratio (DPR) is 36.71%.

About Deere & Company

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.