Gilliland Jeter Wealth Management LLC Buys Shares of 1,295 Deere & Company (NYSE:DE)

Gilliland Jeter Wealth Management LLC acquired a new stake in shares of Deere & Company (NYSE:DE) in the 4th quarter, HoldingsChannel.com reports. The fund acquired 1,295 shares of the industrial products company’s stock, valued at approximately $518,000.

Several other large investors also recently made changes to their positions in DE. Aaron Wealth Advisors LLC boosted its holdings in shares of Deere & Company by 3.5% in the third quarter. Aaron Wealth Advisors LLC now owns 1,138 shares of the industrial products company’s stock worth $429,000 after buying an additional 38 shares during the period. Handelsbanken Fonder AB boosted its holdings in shares of Deere & Company by 3.1% during the third quarter. Handelsbanken Fonder AB now owns 94,542 shares of the industrial products company’s stock worth $35,678,000 after purchasing an additional 2,845 shares during the period. Connecticut Wealth Management LLC boosted its holdings in shares of Deere & Company by 14.2% during the third quarter. Connecticut Wealth Management LLC now owns 2,223 shares of the industrial products company’s stock worth $839,000 after purchasing an additional 276 shares during the period. Ropes Wealth Advisors LLC grew its position in Deere & Company by 2.2% in the third quarter. Ropes Wealth Advisors LLC now owns 6,371 shares of the industrial products company’s stock worth $2,404,000 after acquiring an additional 138 shares in the last quarter. Finally, Accel Wealth Management grew its position in Deere & Company by 0.9% in the third quarter. Accel Wealth Management now owns 6,810 shares of the industrial products company’s stock worth $2,570,000 after acquiring an additional 60 shares in the last quarter. Institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Down 0.2 %

DE stock traded down $0.73 during mid-day trading on Friday, hitting $393.33. 998,338 shares of the company were exchanged, compared to its average volume of 1,243,125. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.81 and a current ratio of 2.05. The firm has a market cap of $109.49 billion, a P/E ratio of 11.45, a P/E/G ratio of 1.48 and a beta of 1.04. The firm’s 50 day simple moving average is $387.86 and its 200 day simple moving average is $383.61. Deere & Company has a 1-year low of $345.55 and a 1-year high of $450.00.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, February 15th. The industrial products company reported $6.23 earnings per share for the quarter, topping the consensus estimate of $5.19 by $1.04. The company had revenue of $10.49 billion during the quarter, compared to analysts’ expectations of $10.30 billion. Deere & Company had a net margin of 16.38% and a return on equity of 44.60%. The business’s quarterly revenue was down 8.0% on a year-over-year basis. During the same period last year, the business earned $6.55 EPS. On average, sell-side analysts predict that Deere & Company will post 27.37 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Friday, March 29th will be paid a $1.47 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $5.88 annualized dividend and a dividend yield of 1.49%. Deere & Company’s dividend payout ratio is presently 17.12%.

Wall Street Analyst Weigh In

DE has been the subject of several recent research reports. Citigroup decreased their target price on shares of Deere & Company from $450.00 to $435.00 and set a “buy” rating for the company in a research report on Friday, February 16th. Evercore ISI boosted their price objective on shares of Deere & Company from $381.00 to $387.00 and gave the stock an “in-line” rating in a research note on Tuesday, February 20th. JPMorgan Chase & Co. boosted their price objective on shares of Deere & Company from $415.00 to $425.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. Truist Financial assumed coverage on shares of Deere & Company in a research note on Thursday, March 14th. They issued a “buy” rating and a $494.00 price objective for the company. Finally, Melius Research restated a “hold” rating on shares of Deere & Company in a research note on Monday, January 8th. Ten research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $433.28.

About Deere & Company

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.