Elwood & Goetz Wealth Advisory Group LLC Acquires Shares of 1,033 Deere & Company (NYSE:DE)

Elwood & Goetz Wealth Advisory Group LLC bought a new position in shares of Deere & Company (NYSE:DE) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,033 shares of the industrial products company’s stock, valued at approximately $431,000.

Several other hedge funds have also modified their holdings of DE. Mattern Wealth Management LLC boosted its holdings in Deere & Company by 1.3% during the third quarter. Mattern Wealth Management LLC now owns 1,884 shares of the industrial products company’s stock worth $786,000 after buying an additional 25 shares in the last quarter. Centaurus Financial Inc. lifted its position in shares of Deere & Company by 2.3% during the 2nd quarter. Centaurus Financial Inc. now owns 1,160 shares of the industrial products company’s stock valued at $433,000 after acquiring an additional 26 shares during the period. Cornell Pochily Investment Advisors Inc. boosted its stake in shares of Deere & Company by 0.7% during the 3rd quarter. Cornell Pochily Investment Advisors Inc. now owns 3,495 shares of the industrial products company’s stock worth $1,459,000 after acquiring an additional 26 shares in the last quarter. Legacy Wealth Asset Management LLC grew its holdings in shares of Deere & Company by 1.9% in the 3rd quarter. Legacy Wealth Asset Management LLC now owns 1,385 shares of the industrial products company’s stock worth $578,000 after acquiring an additional 26 shares during the period. Finally, Cornerstone Wealth Management LLC increased its stake in Deere & Company by 0.9% in the 3rd quarter. Cornerstone Wealth Management LLC now owns 3,098 shares of the industrial products company’s stock valued at $1,293,000 after purchasing an additional 27 shares in the last quarter. 68.58% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Evercore ISI boosted their target price on Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a research report on Monday, August 19th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a research report on Thursday, August 8th. BMO Capital Markets began coverage on shares of Deere & Company in a research report on Friday, August 9th. They set a “market perform” rating and a $400.00 target price for the company. Bank of America increased their price target on shares of Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a research report on Friday, August 16th. Finally, Citigroup upped their target price on Deere & Company from $395.00 to $420.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Twelve investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $420.69.

Deere & Company Stock Down 0.8 %

Shares of NYSE:DE opened at $407.93 on Friday. The company has a current ratio of 2.07, a quick ratio of 1.87 and a debt-to-equity ratio of 1.85. The firm has a market cap of $112.41 billion, a price-to-earnings ratio of 12.28, a PEG ratio of 1.35 and a beta of 0.92. The stock’s 50-day moving average price is $397.30 and its two-hundred day moving average price is $385.56. Deere & Company has a 12-month low of $340.20 and a 12-month high of $420.47.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.63 by $0.66. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The business had revenue of $11.39 billion for the quarter, compared to analysts’ expectations of $10.94 billion. During the same period last year, the company earned $10.20 earnings per share. The company’s quarterly revenue was down 20.3% on a year-over-year basis. On average, research analysts forecast that Deere & Company will post 25.03 EPS for the current year.

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Monday, September 30th will be paid a dividend of $1.47 per share. The ex-dividend date is Monday, September 30th. This represents a $5.88 annualized dividend and a dividend yield of 1.44%. Deere & Company’s dividend payout ratio is presently 17.70%.

Deere & Company Profile

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.