Good Steward Wealth Advisors LLC Makes New Investment in Deere & Company (NYSE:DE)

Good Steward Wealth Advisors LLC purchased a new stake in shares of Deere & Company (NYSE:DE) in the first quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 1,696 shares of the industrial products company’s stock, valued at approximately $796,000.

Several other large investors have also recently made changes to their positions in DE. Brighton Jones LLC raised its holdings in Deere & Company by 39.1% in the 4th quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company’s stock worth $1,927,000 after acquiring an additional 1,278 shares during the last quarter. Strategic Financial Concepts LLC grew its stake in shares of Deere & Company by 16.3% during the 4th quarter. Strategic Financial Concepts LLC now owns 783 shares of the industrial products company’s stock valued at $332,000 after acquiring an additional 110 shares during the period. Atria Wealth Solutions Inc. boosted its position in shares of Deere & Company by 16.3% in the fourth quarter. Atria Wealth Solutions Inc. now owns 14,142 shares of the industrial products company’s stock worth $5,998,000 after purchasing an additional 1,979 shares during the period. Convergence Investment Partners LLC lifted its stake in shares of Deere & Company by 9.2% during the 4th quarter. Convergence Investment Partners LLC now owns 619 shares of the industrial products company’s stock valued at $262,000 after buying an additional 52 shares in the last quarter. Finally, Alberta Investment Management Corp bought a new position in Deere & Company in the 4th quarter worth $5,938,000. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on DE. DA Davidson reissued a “buy” rating and set a $542.00 target price on shares of Deere & Company in a research note on Friday, May 16th. Wall Street Zen lowered Deere & Company from a “hold” rating to a “sell” rating in a report on Friday, May 30th. Oppenheimer raised their price objective on shares of Deere & Company from $513.00 to $555.00 and gave the stock an “outperform” rating in a research note on Friday, May 16th. The Goldman Sachs Group reiterated a “buy” rating on shares of Deere & Company in a research report on Thursday, May 15th. Finally, Evercore ISI boosted their price target on Deere & Company from $455.00 to $493.00 and gave the company an “in-line” rating in a report on Monday, May 19th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $515.19.

Deere & Company Price Performance

Shares of DE stock opened at $525.02 on Friday. The firm has a market capitalization of $142.19 billion, a price-to-earnings ratio of 25.40, a PEG ratio of 3.33 and a beta of 1.09. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $533.78. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.89 and a current ratio of 2.11. The stock’s 50-day simple moving average is $493.91 and its 200-day simple moving average is $470.14.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, May 15th. The industrial products company reported $6.64 EPS for the quarter, topping analysts’ consensus estimates of $5.72 by $0.92. The firm had revenue of $11.17 billion during the quarter, compared to the consensus estimate of $10.80 billion. Deere & Company had a return on equity of 24.39% and a net margin of 12.40%. The company’s revenue was down 17.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $8.53 earnings per share. As a group, equities analysts forecast that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Monday, June 30th will be paid a $1.62 dividend. The ex-dividend date is Monday, June 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.23%. Deere & Company’s payout ratio is 31.35%.

Deere & Company 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.