Legacy Trust Takes $209,000 Position in Deere & Company $DE

Legacy Trust bought a new position in shares of Deere & Company (NYSE:DE) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 412 shares of the industrial products company’s stock, valued at approximately $209,000.

Other large investors have also added to or reduced their stakes in the company. Activest Wealth Management lifted its stake in shares of Deere & Company by 2,750.0% during the 1st quarter. Activest Wealth Management now owns 57 shares of the industrial products company’s stock worth $27,000 after buying an additional 55 shares during the last quarter. Hughes Financial Services LLC bought a new position in Deere & Company in the 1st quarter valued at about $29,000. Cornerstone Planning Group LLC lifted its position in Deere & Company by 116.1% during the first quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 36 shares during the last quarter. Marshall & Sullivan Inc. WA bought a new stake in shares of Deere & Company during the second quarter worth approximately $38,000. Finally, Livelsberger Financial Advisory acquired a new position in shares of Deere & Company in the second quarter valued at approximately $39,000. Institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Up 0.2%

DE stock opened at $462.59 on Friday. The company has a market cap of $125.05 billion, a PE ratio of 24.18, a price-to-earnings-growth ratio of 2.98 and a beta of 1.02. The business has a 50-day simple moving average of $484.64 and a 200 day simple moving average of $489.15. Deere & Company has a 52 week low of $387.03 and a 52 week high of $533.78. The company has a quick ratio of 1.98, a current ratio of 2.19 and a debt-to-equity ratio of 1.76.

Deere & Company (NYSE:DE) last announced its quarterly earnings data 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 net margin of 11.72% and a return on equity of 21.97%. The firm had revenue of $10.36 billion for the quarter, compared to the consensus estimate of $10.33 billion. During the same period in the prior year, the company posted $6.29 earnings per share. The business’s revenue for the quarter was down 9.0% on a year-over-year basis. Sell-side analysts anticipate that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Announces Dividend

The company also recently disclosed 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. This represents a $6.48 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Tuesday, September 30th. Deere & Company’s dividend payout ratio (DPR) is 33.87%.

Wall Street Analysts Forecast Growth

DE has been the subject of several research reports. Truist Financial dropped their price target on Deere & Company from $619.00 to $602.00 and set a “buy” rating for the company in a report on Friday, August 15th. Wall Street Zen raised Deere & Company from a “sell” rating to a “hold” rating in a report on Saturday. Oppenheimer reduced their target price on shares of Deere & Company from $566.00 to $512.00 and set an “outperform” rating for the company in a research report on Thursday, September 18th. Wolfe Research lowered their price target on shares of Deere & Company from $550.00 to $520.00 and set an “outperform” rating on the stock in a research report on Friday. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Deere & Company from $500.00 to $495.00 and set a “neutral” rating for the company in a research note on Tuesday, September 2nd. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Deere & Company presently has an average rating of “Moderate Buy” and an average price target of $518.18.

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.