Tenet Wealth Partners LLC Makes New $516,000 Investment in Deere & Company $DE

Tenet Wealth Partners LLC bought a new stake in Deere & Company (NYSE:DE) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 826 shares of the industrial products company’s stock, valued at approximately $516,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of DE. Markowski Investments purchased a new stake in shares of Deere & Company during the 2nd quarter worth approximately $34,000. Highland Investment Advisors LLC purchased a new position in Deere & Company in the 2nd quarter valued at approximately $343,000. Outlook Capital Management LLC purchased a new position in Deere & Company in the 2nd quarter valued at approximately $339,000. Oakmont Investment Advisors Inc. acquired a new position in Deere & Company during the second quarter worth $458,000. Finally, Hopwood Nicholas Hunter acquired a new position in Deere & Company during the second quarter worth $293,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Stock Down 0.2%

Shares of NYSE:DE opened at $692.68 on Friday. The company has a current ratio of 2.10, a quick ratio of 1.89 and a debt-to-equity ratio of 1.45. The firm has a market cap of $186.76 billion, a price-to-earnings ratio of 38.48, a PEG ratio of 2.86 and a beta of 0.90. The stock’s 50-day moving average price is $619.13 and its two-hundred day moving average price is $596.29. Deere & Company has a 12-month low of $433.00 and a 12-month high of $705.88.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, August 20th. The industrial products company reported $5.10 EPS for the quarter, beating analysts’ consensus estimates of $4.69 by $0.41. Deere & Company had a net margin of 10.16% and a return on equity of 18.10%. The company had revenue of $12.61 billion during the quarter, compared to the consensus estimate of $10.81 billion. During the same quarter in the prior year, the company posted $4.75 EPS. The company’s quarterly revenue was up 6.2% compared to the same quarter last year. On average, research analysts forecast that Deere & Company will post 18.12 EPS for the current year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 9th. Shareholders of record on Wednesday, September 30th will be issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Wednesday, September 30th. Deere & Company’s dividend payout ratio (DPR) is 36.00%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on DE. JPMorgan Chase & Co. upped their target price on Deere & Company from $570.00 to $585.00 and gave the company a “neutral” rating in a report on Friday, August 21st. Truist Financial cut their price target on Deere & Company from $812.00 to $804.00 and set a “buy” rating for the company in a research note on Monday, August 24th. Bank of America decreased their price objective on shares of Deere & Company from $672.00 to $607.50 and set a “neutral” rating on the stock in a research report on Friday, May 22nd. DA Davidson increased their price objective on shares of Deere & Company from $685.00 to $760.00 and gave the company a “buy” rating in a research note on Monday, August 24th. Finally, Nomura upgraded shares of Deere & Company to a “buy” rating in a report on Monday. Sixteen analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Deere & Company currently has a consensus rating of “Moderate Buy” and a consensus target price of $680.73.

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.