408 Shares in Deere & Company $DE Bought by Carlton Hofferkamp & Jenks Wealth Management LLC

Carlton Hofferkamp & Jenks Wealth Management LLC acquired a new position in shares of Deere & Company (NYSE:DE) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 408 shares of the industrial products company’s stock, valued at approximately $207,000.

Several other institutional investors also recently modified their holdings of DE. Brighton Jones LLC grew its stake in shares of Deere & Company by 39.1% in the fourth quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company’s stock worth $1,927,000 after purchasing an additional 1,278 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Deere & Company by 30.6% in the first quarter. GAMMA Investing LLC now owns 3,735 shares of the industrial products company’s stock worth $1,753,000 after purchasing an additional 876 shares during the last quarter. Golden State Wealth Management LLC grew its stake in shares of Deere & Company by 109.9% in the first quarter. Golden State Wealth Management LLC now owns 1,224 shares of the industrial products company’s stock worth $576,000 after purchasing an additional 641 shares during the last quarter. Western Wealth Management LLC grew its stake in shares of Deere & Company by 25.3% in the first quarter. Western Wealth Management LLC now owns 1,111 shares of the industrial products company’s stock worth $521,000 after purchasing an additional 224 shares during the last quarter. Finally, Perpetual Ltd grew its stake in shares of Deere & Company by 37.1% in the first quarter. Perpetual Ltd now owns 960 shares of the industrial products company’s stock worth $451,000 after purchasing an additional 260 shares during the last quarter. Institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Performance

Shares of Deere & Company stock opened at $473.01 on Friday. Deere & Company has a 12 month low of $387.03 and a 12 month high of $533.78. The company has a current ratio of 2.19, a quick ratio of 1.98 and a debt-to-equity ratio of 1.76. The business’s fifty day simple moving average is $469.88 and its 200 day simple moving average is $488.49. The firm has a market capitalization of $127.87 billion, a P/E ratio of 24.73, a price-to-earnings-growth ratio of 3.02 and a beta of 1.02.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $10.33 billion. During the same period last year, the business posted $6.29 earnings per share. The business’s revenue for the quarter was down 9.0% on a year-over-year basis. As a group, analysts anticipate that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Tuesday, September 30th will be issued a dividend of $1.62 per share. 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 is 33.87%.

Analysts Set New Price Targets

A number of analysts have commented on the stock. DA Davidson cut their price target on shares of Deere & Company from $595.00 to $580.00 and set a “buy” rating on the stock in a research report on Monday, August 18th. Wall Street Zen raised shares of Deere & Company from a “sell” rating to a “hold” rating in a research report on Saturday, October 4th. Royal Bank Of Canada assumed coverage on shares of Deere & Company in a research report on Wednesday. They set an “outperform” rating and a $542.00 price target on the stock. JPMorgan Chase & Co. cut their price target on shares of Deere & Company from $495.00 to $480.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 14th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Deere & Company in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target 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.