Wayfinding Financial LLC Purchases New Holdings in Deere & Company (NYSE:DE)

Wayfinding Financial LLC bought a new position in Deere & Company (NYSE:DE) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 524 shares of the industrial products company’s stock, valued at approximately $245,000.

Several other institutional investors and hedge funds have also modified their holdings of DE. Orion Capital Management LLC bought a new position in Deere & Company during the fourth quarter worth about $34,000. Mascagni Wealth Management Inc. bought a new position in Deere & Company during the fourth quarter worth about $39,000. Dogwood Wealth Management LLC bought a new position in Deere & Company during the fourth quarter worth about $42,000. Wood Tarver Financial Group LLC bought a new position in Deere & Company during the fourth quarter worth about $43,000. Finally, Citizens National Bank Trust Department bought a new position in shares of Deere & Company during the 1st quarter valued at about $45,000. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Stock Performance

NYSE:DE opened at $517.50 on Friday. The stock has a fifty day moving average price of $506.47 and a 200-day moving average price of $475.24. The company has a market cap of $140.15 billion, a price-to-earnings ratio of 25.04, a PEG ratio of 3.31 and a beta of 1.08. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.89 and a current ratio of 2.11. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $533.78.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share for the quarter, beating 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 period in the prior year, the company posted $8.53 EPS. As a group, equities analysts anticipate that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Announces Dividend

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 given a dividend of $1.62 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.25%. Deere & Company’s payout ratio is 31.35%.

Analysts Set New Price Targets

Several equities research analysts have commented on DE shares. Melius Research upgraded Deere & Company from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 6th. UBS Group lowered their price target on Deere & Company from $462.00 to $440.00 and set a “neutral” rating on the stock in a research report on Monday, April 7th. Morgan Stanley boosted their price target on Deere & Company from $450.00 to $500.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 16th. Argus set a $510.00 price target on Deere & Company in a research report on Friday, March 7th. Finally, Melius raised Deere & Company from a “hold” rating to a “buy” rating in a research report on Friday, June 6th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $515.19.

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.