Avidian Wealth Enterprises LLC Raises Position in Deere & Company (NYSE:DE)

Avidian Wealth Enterprises LLC grew its position in Deere & Company (NYSE:DE) by 4.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,119 shares of the industrial products company’s stock after buying an additional 48 shares during the period. Avidian Wealth Enterprises LLC’s holdings in Deere & Company were worth $474,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Creative Planning raised its holdings in shares of Deere & Company by 2.1% during the third quarter. Creative Planning now owns 75,462 shares of the industrial products company’s stock valued at $31,493,000 after purchasing an additional 1,555 shares during the last quarter. Sumitomo Life Insurance Co. raised its holdings in shares of Deere & Company by 2.5% during the third quarter. Sumitomo Life Insurance Co. now owns 4,620 shares of the industrial products company’s stock valued at $1,928,000 after purchasing an additional 111 shares during the last quarter. Firethorn Wealth Partners LLC purchased a new position in shares of Deere & Company during the third quarter valued at approximately $200,000. AAFMAA Wealth Management & Trust LLC raised its holdings in shares of Deere & Company by 19.6% during the third quarter. AAFMAA Wealth Management & Trust LLC now owns 3,090 shares of the industrial products company’s stock valued at $1,290,000 after purchasing an additional 507 shares during the last quarter. Finally, Culbertson A N & Co. Inc. raised its holdings in shares of Deere & Company by 2.5% during the third quarter. Culbertson A N & Co. Inc. now owns 23,937 shares of the industrial products company’s stock valued at $9,989,000 after purchasing an additional 585 shares during the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Stock Performance

DE opened at $466.30 on Friday. The firm has a market cap of $127.00 billion, a P/E ratio of 18.21, a PEG ratio of 2.87 and a beta of 0.98. Deere & Company has a 1-year low of $340.20 and a 1-year high of $485.84. The company has a 50 day simple moving average of $445.86 and a two-hundred day simple moving average of $415.14. The company has a debt-to-equity ratio of 1.89, a current ratio of 2.09 and a quick ratio of 1.90.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share for the quarter, topping analysts’ consensus estimates of $3.14 by $0.05. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. Equities analysts forecast that Deere & Company will post 19.38 earnings per share for the current fiscal year.

Deere & Company Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 10th. Investors of record on Tuesday, December 31st were given a dividend of $1.62 per share. This is a positive change from Deere & Company’s previous quarterly dividend of $1.47. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.39%. Deere & Company’s dividend payout ratio is currently 25.31%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. UBS Group boosted their price objective on shares of Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Truist Financial boosted their price objective on shares of Deere & Company from $538.00 to $550.00 and gave the company a “buy” rating in a report on Thursday, December 19th. JPMorgan Chase & Co. boosted their price objective on shares of Deere & Company from $470.00 to $500.00 and gave the company a “neutral” rating in a report on Monday. Jefferies Financial Group cut shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price objective for the company. in a report on Friday, December 6th. Finally, Morgan Stanley boosted their target price on shares of Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a research report on Monday, November 25th. Eleven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $446.17.

Deere & Company Profile

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.