Wealthquest Corp Takes Position in Deere & Company $DE

Wealthquest Corp acquired a new stake in Deere & Company (NYSE:DE) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 577 shares of the industrial products company’s stock, valued at approximately $293,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. OLD National Bancorp IN grew its stake in Deere & Company by 2.6% during the 2nd quarter. OLD National Bancorp IN now owns 24,000 shares of the industrial products company’s stock worth $12,204,000 after purchasing an additional 610 shares in the last quarter. Providence Capital Advisors LLC raised its position in Deere & Company by 2.1% in the 1st quarter. Providence Capital Advisors LLC now owns 14,639 shares of the industrial products company’s stock valued at $6,871,000 after purchasing an additional 303 shares in the last quarter. Bragg Financial Advisors Inc boosted its stake in shares of Deere & Company by 12.7% in the 1st quarter. Bragg Financial Advisors Inc now owns 7,213 shares of the industrial products company’s stock valued at $3,386,000 after buying an additional 813 shares during the period. ASR Vermogensbeheer N.V. acquired a new position in shares of Deere & Company during the first quarter worth about $13,588,000. Finally, United Asset Strategies Inc. purchased a new stake in shares of Deere & Company during the first quarter worth approximately $2,496,000. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Trading Down 0.8%

NYSE DE opened at $465.95 on Friday. The firm’s fifty day moving average price is $467.10 and its 200 day moving average price is $490.59. Deere & Company has a 12 month low of $403.01 and a 12 month high of $533.78. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.19 and a quick ratio of 1.98. The company has a market capitalization of $125.96 billion, a price-to-earnings ratio of 24.36, a price-to-earnings-growth ratio of 3.05 and a beta of 1.04.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Wednesday, November 26th. The industrial products company reported $3.93 earnings per share for the quarter, missing analysts’ consensus estimates of $3.96 by ($0.03). The company had revenue of $12.39 billion during the quarter, compared to analysts’ expectations of $9.77 billion. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. Deere & Company’s revenue was up 14.1% on a year-over-year basis. During the same period last year, the firm earned $4.55 earnings per share. On average, sell-side analysts expect that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO John C. May II sold 11,106 shares of the company’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $500.08, for a total value of $5,553,888.48. Following the completion of the sale, the chief executive officer directly owned 112,453 shares of the company’s stock, valued at $56,235,496.24. This represents a 8.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.29% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on DE shares. DA Davidson decreased their price target on shares of Deere & Company from $595.00 to $580.00 and set a “buy” rating for the company in a research note on Monday, August 18th. Sanford C. Bernstein lifted their price objective on shares of Deere & Company from $487.00 to $521.00 and gave the stock a “market perform” rating in a research report on Thursday, November 13th. Wolfe Research lowered their target price on shares of Deere & Company from $550.00 to $520.00 and set an “outperform” rating for the company in a research note on Friday, October 3rd. Zacks Research lowered Deere & Company from a “hold” rating to a “strong sell” rating in a report on Monday, October 20th. Finally, Citigroup decreased their price target on Deere & Company from $525.00 to $515.00 and set a “neutral” rating for the company in a report on Tuesday, October 7th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Deere & Company presently has a consensus rating of “Moderate Buy” and a consensus target price of $519.45.

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.