River Wealth Advisors LLC Has $5.91 Million Stock Position in Deere & Company $DE

River Wealth Advisors LLC grew its stake in shares of Deere & Company (NYSE:DE) by 6.6% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 12,923 shares of the industrial products company’s stock after buying an additional 799 shares during the quarter. River Wealth Advisors LLC’s holdings in Deere & Company were worth $5,909,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of DE. Vanguard Group Inc. increased its holdings in Deere & Company by 1.4% in the 2nd quarter. Vanguard Group Inc. now owns 22,372,671 shares of the industrial products company’s stock worth $11,376,279,000 after purchasing an additional 309,081 shares in the last quarter. State Street Corp grew its holdings in shares of Deere & Company by 0.6% during the second quarter. State Street Corp now owns 10,386,268 shares of the industrial products company’s stock worth $5,297,913,000 after purchasing an additional 64,262 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Deere & Company by 2.1% in the second quarter. Geode Capital Management LLC now owns 5,541,778 shares of the industrial products company’s stock valued at $2,810,807,000 after buying an additional 111,627 shares during the period. Norges Bank acquired a new position in shares of Deere & Company in the second quarter valued at approximately $1,578,243,000. Finally, Fisher Asset Management LLC raised its holdings in Deere & Company by 10.1% in the 2nd quarter. Fisher Asset Management LLC now owns 2,580,228 shares of the industrial products company’s stock valued at $1,312,020,000 after buying an additional 236,406 shares during the last quarter. 68.58% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Deere & Company news, CEO John C. May II sold 41,472 shares of the firm’s stock in a transaction on Thursday, January 8th. The shares were sold at an average price of $501.49, for a total value of $20,797,793.28. Following the completion of the sale, the chief executive officer directly owned 117,970 shares in the company, valued at approximately $59,160,775.30. This trade represents a 26.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Cory J. Reed sold 12,000 shares of the company’s stock in a transaction dated Wednesday, January 14th. The shares were sold at an average price of $510.00, for a total transaction of $6,120,000.00. Following the transaction, the insider owned 20,792 shares in the company, valued at $10,603,920. This represents a 36.59% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.29% of the stock is owned by insiders.

Deere & Company Stock Up 1.6%

Shares of NYSE:DE opened at $629.32 on Friday. The company has a market capitalization of $170.59 billion, a price-to-earnings ratio of 35.47, a P/E/G ratio of 2.22 and a beta of 1.02. The company has a debt-to-equity ratio of 1.59, a current ratio of 2.21 and a quick ratio of 1.96. The business’s 50-day moving average is $537.84 and its 200-day moving average is $495.51. Deere & Company has a 1 year low of $404.42 and a 1 year high of $674.19.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, February 19th. The industrial products company reported $2.42 EPS for the quarter, topping the consensus estimate of $1.90 by $0.52. Deere & Company had a return on equity of 18.93% and a net margin of 10.29%.The business had revenue of $9.61 billion during the quarter, compared to analysts’ expectations of $7.50 billion. During the same quarter last year, the firm posted $3.19 earnings per share. The firm’s revenue was up 17.5% on a year-over-year basis. Equities research analysts predict that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 8th. Stockholders of record on Tuesday, March 31st will be paid a $1.62 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $6.48 annualized dividend and a dividend yield of 1.0%. Deere & Company’s payout ratio is currently 36.53%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on DE. Oppenheimer reissued an “outperform” rating and set a $715.00 target price on shares of Deere & Company in a report on Friday, February 20th. Raymond James Financial reissued an “outperform” rating and issued a $765.00 price objective on shares of Deere & Company in a research note on Monday, February 23rd. BMO Capital Markets increased their price objective on Deere & Company from $460.00 to $500.00 and gave the company a “market perform” rating in a report on Friday, February 20th. Bank of America lifted their target price on Deere & Company from $502.00 to $672.00 and gave the stock a “neutral” rating in a report on Friday, February 20th. Finally, Evercore reiterated a “positive” rating on shares of Deere & Company in a research report on Friday, November 28th. Fifteen equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $637.70.

Deere & Company Company Profile

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.