Eagle Wealth Strategies LLC Takes $204,000 Position in Deere & Company (NYSE:DE)

Eagle Wealth Strategies LLC acquired a new stake in Deere & Company (NYSE:DE) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 509 shares of the industrial products company’s stock, valued at approximately $204,000.

Other institutional investors have also modified their holdings of the company. Blue Chip Partners LLC lifted its holdings in shares of Deere & Company by 2.3% during the fourth quarter. Blue Chip Partners LLC now owns 1,223 shares of the industrial products company’s stock valued at $489,000 after purchasing an additional 27 shares during the last quarter. Monumental Financial Group Inc. lifted its holdings in shares of Deere & Company by 2.2% during the fourth quarter. Monumental Financial Group Inc. now owns 2,745 shares of the industrial products company’s stock valued at $1,098,000 after purchasing an additional 60 shares during the last quarter. Silver Oak Securities Incorporated lifted its holdings in shares of Deere & Company by 38.3% during the fourth quarter. Silver Oak Securities Incorporated now owns 1,362 shares of the industrial products company’s stock valued at $545,000 after purchasing an additional 377 shares during the last quarter. Stonebrook Private Inc. purchased a new stake in shares of Deere & Company during the fourth quarter valued at $528,000. Finally, Opinicus Capital Inc. purchased a new stake in shares of Deere & Company during the fourth quarter valued at $1,195,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on DE shares. Deutsche Bank Aktiengesellschaft reduced their target price on Deere & Company from $425.00 to $401.00 and set a “hold” rating for the company in a report on Friday, February 16th. Wells Fargo & Company reduced their target price on Deere & Company from $445.00 to $425.00 and set an “overweight” rating for the company in a report on Friday, February 16th. Melius downgraded Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, January 8th. Truist Financial began coverage on Deere & Company in a research report on Thursday, March 14th. They set a “buy” rating and a $494.00 price target on the stock. Finally, Evercore ISI upped their price target on Deere & Company from $381.00 to $387.00 and gave the company an “in-line” rating in a research report on Tuesday, February 20th. Ten investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $433.28.

Deere & Company Stock Performance

DE opened at $400.91 on Tuesday. The company has a market cap of $111.60 billion, a PE ratio of 11.67, a price-to-earnings-growth ratio of 1.48 and a beta of 1.04. The stock has a 50-day moving average of $388.66 and a 200-day moving average of $383.65. Deere & Company has a 52-week low of $345.55 and a 52-week high of $450.00. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.81 and a current ratio of 2.05.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, February 15th. The industrial products company reported $6.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.19 by $1.04. The company had revenue of $10.49 billion during the quarter, compared to the consensus estimate of $10.30 billion. Deere & Company had a return on equity of 44.60% and a net margin of 16.38%. The firm’s revenue was down 8.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $6.55 EPS. As a group, equities research analysts forecast that Deere & Company will post 27.37 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Friday, March 29th will be paid a dividend of $1.47 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $5.88 annualized dividend and a yield of 1.47%. Deere & Company’s payout ratio is 17.12%.

Deere & Company Company Profile

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.