Elwood & Goetz Wealth Advisory Group LLC Makes New Investment in Deere & Company (NYSE:DE)

Elwood & Goetz Wealth Advisory Group LLC bought a new position in Deere & Company (NYSE:DE) in the third quarter, according to its most recent disclosure with the SEC. The firm bought 1,033 shares of the industrial products company’s stock, valued at approximately $431,000.

Other institutional investors have also modified their holdings of the company. Fairscale Capital LLC purchased a new position in Deere & Company during the second quarter worth about $26,000. Pineridge Advisors LLC raised its stake in shares of Deere & Company by 725.0% in the 1st quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 58 shares during the period. Livelsberger Financial Advisory acquired a new position in shares of Deere & Company in the 3rd quarter worth approximately $32,000. Olistico Wealth LLC purchased a new position in shares of Deere & Company during the 2nd quarter worth approximately $37,000. Finally, Centennial Bank AR increased its holdings in Deere & Company by 420.0% in the 2nd quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 84 shares during the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on DE. Morgan Stanley decreased their price target on Deere & Company from $450.00 to $425.00 and set an “overweight” rating on the stock in a research note on Monday, August 26th. Evercore ISI raised 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 downgraded Deere & Company from a “buy” rating to a “hold” rating in a research report on Monday, August 19th. Truist Financial increased their price target 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, 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. Twelve research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $420.69.

Deere & Company Stock Performance

NYSE DE opened at $407.93 on Friday. The firm has a market cap of $112.41 billion, a P/E ratio of 12.28, a P/E/G ratio of 1.35 and a beta of 0.92. Deere & Company has a 52-week low of $340.20 and a 52-week high of $420.47. The business’s 50-day moving average price is $397.30 and its 200 day moving average price is $385.56. 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 (NYSE:DE) last announced its earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share for the quarter, beating the consensus estimate of $5.63 by $0.66. The company had revenue of $11.39 billion for the quarter, compared to the consensus estimate of $10.94 billion. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. During the same period last year, the business posted $10.20 EPS. The company’s revenue was down 20.3% on a year-over-year basis. On average, equities research analysts expect that Deere & Company will post 25.03 earnings per share for the current year.

Deere & Company Dividend Announcement

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