Deere & Company $DE Shares Purchased by Morey & Quinn Wealth Partners LLC

Morey & Quinn Wealth Partners LLC lifted its position in Deere & Company (NYSE:DE) by 3.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,839 shares of the industrial products company’s stock after acquiring an additional 100 shares during the period. Deere & Company accounts for approximately 1.2% of Morey & Quinn Wealth Partners LLC’s investment portfolio, making the stock its 16th biggest holding. Morey & Quinn Wealth Partners LLC’s holdings in Deere & Company were worth $1,444,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Maryland State Retirement & Pension System increased its position in shares of Deere & Company by 1.7% in the 2nd quarter. Maryland State Retirement & Pension System now owns 11,875 shares of the industrial products company’s stock valued at $6,038,000 after acquiring an additional 202 shares during the period. Optas LLC grew its position in Deere & Company by 105.8% during the 2nd quarter. Optas LLC now owns 1,568 shares of the industrial products company’s stock worth $797,000 after purchasing an additional 806 shares during the period. Massachusetts Wealth Management grew its position in Deere & Company by 0.7% during the 2nd quarter. Massachusetts Wealth Management now owns 5,067 shares of the industrial products company’s stock worth $2,577,000 after purchasing an additional 35 shares during the period. Northern Financial Advisors Inc grew its position in Deere & Company by 12.2% during the 2nd quarter. Northern Financial Advisors Inc now owns 1,175 shares of the industrial products company’s stock worth $597,000 after purchasing an additional 128 shares during the period. Finally, Birinyi Associates Inc. grew its position in Deere & Company by 206.5% during the 2nd quarter. Birinyi Associates Inc. now owns 4,750 shares of the industrial products company’s stock worth $2,415,000 after purchasing an additional 3,200 shares during the period. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Trading Down 0.1%

Shares of Deere & Company stock opened at $461.06 on Thursday. The firm has a market capitalization of $124.64 billion, a PE ratio of 24.10, a P/E/G ratio of 2.97 and a beta of 1.02. Deere & Company has a twelve month low of $387.03 and a twelve month high of $533.78. The firm’s 50-day moving average price is $481.60 and its 200 day moving average price is $488.75. The company has a current ratio of 2.19, a quick ratio of 1.98 and a debt-to-equity ratio of 1.76.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share for the quarter, beating analysts’ consensus estimates of $4.62 by $0.13. The firm had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.33 billion. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. Deere & Company’s quarterly revenue was down 9.0% compared to the same quarter last year. During the same period last year, the company posted $6.29 EPS. On average, sell-side analysts predict that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Tuesday, September 30th will be paid a $1.62 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.48 dividend on an annualized basis and a yield of 1.4%. Deere & Company’s dividend payout ratio (DPR) is currently 33.87%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Deere & Company in a research report on Wednesday. Daiwa Capital Markets cut their price target on Deere & Company from $565.00 to $530.00 and set an “outperform” rating on the stock in a research report on Thursday, September 25th. Wall Street Zen raised Deere & Company from a “sell” rating to a “hold” rating in a research report on Saturday, October 4th. Robert W. Baird cut their price target on Deere & Company from $520.00 to $488.00 and set a “neutral” rating on the stock in a research report on Friday, August 15th. Finally, Truist Financial increased their target price on shares of Deere & Company from $602.00 to $609.00 and gave the stock a “buy” rating in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $518.59.

Deere & Company Profile

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.