Linscomb Wealth Inc. Increases Holdings in Deere & Company (NYSE:DE)

Linscomb Wealth Inc. increased its holdings in shares of Deere & Company (NYSE:DE) by 6.9% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 816 shares of the industrial products company’s stock after acquiring an additional 53 shares during the period. Linscomb Wealth Inc.’s holdings in Deere & Company were worth $340,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Mattern Wealth Management LLC grew its holdings in Deere & Company by 1.3% during the 3rd quarter. Mattern Wealth Management LLC now owns 1,884 shares of the industrial products company’s stock valued at $786,000 after buying an additional 25 shares in the last quarter. Carret Asset Management LLC boosted its position in shares of Deere & Company by 0.3% during the third quarter. Carret Asset Management LLC now owns 8,148 shares of the industrial products company’s stock worth $3,401,000 after acquiring an additional 25 shares during the last quarter. Round Rock Advisors LLC boosted its position in shares of Deere & Company by 2.0% during the third quarter. Round Rock Advisors LLC now owns 1,252 shares of the industrial products company’s stock worth $522,000 after acquiring an additional 25 shares during the last quarter. Centaurus Financial Inc. grew its stake in Deere & Company by 2.3% during the second 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 in the last quarter. Finally, Cornell Pochily Investment Advisors Inc. increased its holdings in Deere & Company by 0.7% in the 3rd quarter. Cornell Pochily Investment Advisors Inc. now owns 3,495 shares of the industrial products company’s stock valued at $1,459,000 after acquiring an additional 26 shares during the last quarter. Institutional investors own 68.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on DE. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a report on Thursday, August 8th. HSBC lowered Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday, August 19th. Oppenheimer reduced their price objective on 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 price objective on Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a report on Monday, August 19th. Finally, Morgan Stanley cut their target price on shares of Deere & Company from $450.00 to $425.00 and set an “overweight” rating for the company in a report on Monday, August 26th. Twelve research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $420.69.

Deere & Company Price Performance

DE stock opened at $398.95 on Friday. The stock has a market cap of $109.15 billion, a PE ratio of 13.61, a P/E/G ratio of 1.48 and a beta of 0.93. Deere & Company has a 12 month low of $340.20 and a 12 month high of $420.47. The company has a 50-day moving average price of $404.03 and a 200 day moving average price of $385.69. The company has a current ratio of 2.07, a quick ratio of 1.87 and a debt-to-equity ratio of 1.85.

Deere & Company (NYSE:DE) last announced its quarterly earnings data 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. The business 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%. The firm’s quarterly revenue was down 20.3% compared to the same quarter last year. During the same quarter last year, the firm earned $10.20 earnings per share. Equities research analysts anticipate that Deere & Company will post 25 earnings per share for the current 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 dividend yield of 1.47%. The ex-dividend date was Monday, September 30th. Deere & Company’s dividend payout ratio is currently 20.06%.

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.