WealthPlan Investment Management LLC Makes New Investment in Deere & Company (NYSE:DE)

WealthPlan Investment Management LLC bought a new position in shares of Deere & Company (NYSE:DE) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 841 shares of the industrial products company’s stock, valued at approximately $351,000.

Several other hedge funds have also recently modified their holdings of DE. First National Trust Co increased its stake in Deere & Company by 1.6% during the 3rd quarter. First National Trust Co now owns 2,422 shares of the industrial products company’s stock worth $1,011,000 after buying an additional 37 shares in the last quarter. WealthPLAN Partners LLC boosted its stake in shares of Deere & Company by 4.5% in the third quarter. WealthPLAN Partners LLC now owns 2,547 shares of the industrial products company’s stock worth $1,063,000 after acquiring an additional 110 shares during the last quarter. Apollon Wealth Management LLC increased its position in shares of Deere & Company by 2.6% during the third quarter. Apollon Wealth Management LLC now owns 14,943 shares of the industrial products company’s stock worth $6,236,000 after purchasing an additional 375 shares in the last quarter. Opinicus Capital Inc. raised its stake in Deere & Company by 6.7% in the 3rd quarter. Opinicus Capital Inc. now owns 3,705 shares of the industrial products company’s stock valued at $1,546,000 after purchasing an additional 234 shares during the last quarter. Finally, Venturi Wealth Management LLC lifted its holdings in Deere & Company by 12.1% in the 3rd quarter. Venturi Wealth Management LLC now owns 843 shares of the industrial products company’s stock valued at $352,000 after purchasing an additional 91 shares in the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Stock Performance

Shares of Deere & Company stock opened at $393.83 on Wednesday. The company has a quick ratio of 1.87, a current ratio of 2.07 and a debt-to-equity ratio of 1.85. Deere & Company has a 52 week low of $340.20 and a 52 week high of $420.47. The firm’s 50 day moving average is $403.35 and its two-hundred day moving average is $385.61. The firm has a market capitalization of $107.75 billion, a P/E ratio of 13.44, a P/E/G ratio of 1.50 and a beta of 0.93.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.63 by $0.66. The company had revenue of $11.39 billion during the quarter, compared to the consensus estimate of $10.94 billion. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. Deere & Company’s revenue for the quarter was down 20.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $10.20 earnings per share. Research analysts forecast that Deere & Company will post 25 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Monday, September 30th were paid a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date of this dividend was Monday, September 30th. Deere & Company’s dividend payout ratio is currently 20.06%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on DE. Oppenheimer decreased their price target on shares of Deere & Company from $465.00 to $448.00 and set an “outperform” rating on the stock in a research note on Monday, July 22nd. Evercore ISI upped their target price on Deere & Company from $371.00 to $378.00 and gave the company an “in-line” rating in a report on Monday, August 19th. Hsbc Global Res cut shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 19th. Truist Financial raised their price objective on shares of Deere & Company from $443.00 to $496.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Deere & Company from $360.00 to $420.00 and gave the company a “neutral” rating in a report on Friday, October 11th. Twelve equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Deere & Company has an average rating of “Hold” and an average price target of $420.69.

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.