OneAscent Wealth Management LLC Acquires 365 Shares of Deere & Company (NYSE:DE)

OneAscent Wealth Management LLC lifted its holdings in Deere & Company (NYSE:DE) by 65.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 923 shares of the industrial products company’s stock after acquiring an additional 365 shares during the period. OneAscent Wealth Management LLC’s holdings in Deere & Company were worth $379,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Asio Capital LLC purchased a new stake in Deere & Company in the 1st quarter worth about $202,000. Firethorn Wealth Partners LLC purchased a new stake in Deere & Company in the 1st quarter worth about $200,000. Atlantic Union Bankshares Corp raised its position in Deere & Company by 61.9% in the 1st quarter. Atlantic Union Bankshares Corp now owns 9,750 shares of the industrial products company’s stock worth $4,005,000 after purchasing an additional 3,728 shares during the period. Addenda Capital Inc. increased its position in shares of Deere & Company by 26.2% during the first quarter. Addenda Capital Inc. now owns 16,033 shares of the industrial products company’s stock worth $6,604,000 after acquiring an additional 3,328 shares during the period. Finally, Sendero Wealth Management LLC purchased a new position in shares of Deere & Company during the first quarter worth approximately $205,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Stock Down 0.4 %

DE traded down $1.68 during trading on Friday, hitting $373.63. The stock had a trading volume of 6,689,701 shares, compared to its average volume of 1,409,983. The company has a market capitalization of $102.96 billion, a PE ratio of 11.25, a PEG ratio of 1.51 and a beta of 0.98. Deere & Company has a twelve month low of $353.15 and a twelve month high of $450.00. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.80 and a current ratio of 2.01. The stock has a 50 day simple moving average of $385.32 and a two-hundred day simple moving average of $387.02.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, May 16th. The industrial products company reported $8.53 EPS for the quarter, topping the consensus estimate of $7.86 by $0.67. Deere & Company had a net margin of 16.15% and a return on equity of 42.26%. The business had revenue of $13.61 billion during the quarter, compared to the consensus estimate of $13.29 billion. During the same period in the previous year, the firm posted $9.65 earnings per share. The business’s revenue for the quarter was down 15.4% compared to the same quarter last year. On average, research analysts predict that Deere & Company will post 25.61 earnings per share for the current year.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 8th. Stockholders of record on Friday, June 28th will be paid a dividend of $1.47 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $5.88 annualized dividend and a dividend yield of 1.57%. Deere & Company’s payout ratio is currently 17.70%.

Insider Transactions at Deere & Company

In related news, insider Cory J. Reed sold 13,370 shares of the firm’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $377.63, for a total transaction of $5,048,913.10. Following the completion of the transaction, the insider now owns 41,642 shares of the company’s stock, valued at $15,725,268.46. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

DE has been the topic of a number of research reports. Truist Financial initiated coverage on shares of Deere & Company in a research report on Thursday, March 14th. They set a “buy” rating and a $494.00 target price on the stock. Raymond James initiated coverage on shares of Deere & Company in a research report on Friday. They set an “outperform” rating and a $420.00 target price on the stock. DA Davidson reduced their target price on shares of Deere & Company from $483.00 to $465.00 and set a “buy” rating on the stock in a research report on Monday, May 20th. Stifel Nicolaus raised their target price on shares of Deere & Company from $425.00 to $450.00 and gave the stock a “buy” rating in a research report on Friday, May 17th. Finally, Citigroup assumed coverage on shares of Deere & Company in a research report on Wednesday. They set a “neutral” rating and a $395.00 target price on the stock. Eleven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $430.55.

Deere & Company 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.