Phillips Wealth Planners LLC Buys Shares of 939 Deere & Company $DE

Phillips Wealth Planners LLC purchased a new stake in Deere & Company (NYSE:DE) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 939 shares of the industrial products company’s stock, valued at approximately $567,000.

A number of other institutional investors also recently modified their holdings of the business. Anchyra Partners LLC lifted its position in shares of Deere & Company by 0.5% during the 1st quarter. Anchyra Partners LLC now owns 3,191 shares of the industrial products company’s stock worth $1,797,000 after buying an additional 17 shares during the last quarter. William B. Walkup & Associates Inc. grew its position in Deere & Company by 0.6% in the first quarter. William B. Walkup & Associates Inc. now owns 2,908 shares of the industrial products company’s stock valued at $1,638,000 after acquiring an additional 17 shares during the last quarter. Advisortrust Partners LLC raised its stake in Deere & Company by 2.0% during the first quarter. Advisortrust Partners LLC now owns 914 shares of the industrial products company’s stock worth $515,000 after acquiring an additional 18 shares in the last quarter. Cerro Pacific Wealth Advisors LLC raised its stake in Deere & Company by 0.6% during the fourth quarter. Cerro Pacific Wealth Advisors LLC now owns 3,179 shares of the industrial products company’s stock worth $1,480,000 after acquiring an additional 19 shares in the last quarter. Finally, Hazlett Burt & Watson Inc. lifted its holdings in shares of Deere & Company by 2.4% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 816 shares of the industrial products company’s stock worth $379,000 after acquiring an additional 19 shares during the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on DE shares. Robert W. Baird reduced their price target on shares of Deere & Company from $580.00 to $525.00 and set a “neutral” rating on the stock in a research note on Friday, May 22nd. Seaport Research Partners set a $570.00 price objective on shares of Deere & Company in a research note on Friday. DA Davidson restated a “buy” rating and issued a $685.00 target price on shares of Deere & Company in a research report on Friday, July 17th. Truist Financial boosted their target price on shares of Deere & Company from $759.00 to $812.00 and gave the stock a “buy” rating in a research note on Thursday, July 2nd. Finally, Wall Street Zen upgraded shares of 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 issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $641.98.

Deere & Company Stock Performance

Shares of DE stock opened at $600.08 on Tuesday. The firm has a market capitalization of $161.99 billion, a price-to-earnings ratio of 34.00, a PEG ratio of 2.57 and a beta of 0.90. 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 business’s 50-day moving average price is $603.76 and its 200-day moving average price is $588.84. Deere & Company has a 12 month low of $433.00 and a 12 month high of $674.19.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, May 21st. The industrial products company reported $6.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.70 by $0.85. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.The company had revenue of $13.37 billion during the quarter, compared to the consensus estimate of $11.55 billion. During the same quarter in the prior year, the firm posted $6.64 earnings per share. The firm’s revenue was up 5.4% compared to the same quarter last year. Equities research analysts forecast that Deere & Company will post 18.26 EPS for the current year.

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 10th. Shareholders of record on Tuesday, June 30th were issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Tuesday, June 30th. Deere & Company’s payout ratio is presently 36.71%.

Deere & Company Profile

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.