Firethorn Wealth Partners LLC Takes Position in Deere & Company (NYSE:DE)

Firethorn Wealth Partners LLC acquired a new position in Deere & Company (NYSE:DE) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 480 shares of the industrial products company’s stock, valued at approximately $200,000.

Other large investors also recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. grew its position in Deere & Company by 20.5% in the second quarter. Oppenheimer Asset Management Inc. now owns 15,808 shares of the industrial products company’s stock worth $5,906,000 after acquiring an additional 2,692 shares in the last quarter. Harbor Investment Advisory LLC lifted its stake in Deere & Company by 27.4% during the first quarter. Harbor Investment Advisory LLC now owns 1,730 shares of the industrial products company’s stock worth $710,000 after purchasing an additional 372 shares during the last quarter. Aviance Capital Partners LLC purchased a new position in shares of Deere & Company in the 1st quarter worth about $2,783,000. Range Financial Group LLC increased its position in shares of Deere & Company by 5.2% during the 1st quarter. Range Financial Group LLC now owns 548 shares of the industrial products company’s stock valued at $225,000 after purchasing an additional 27 shares during the last quarter. Finally, Royal Fund Management LLC grew its holdings in Deere & Company by 99.8% in the 3rd quarter. Royal Fund Management LLC now owns 6,454 shares of the industrial products company’s stock worth $2,694,000 after acquiring an additional 3,223 shares during the last quarter. Institutional investors own 68.58% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. BMO Capital Markets initiated coverage on shares of Deere & Company in a research note on Friday, August 9th. They set a “market perform” rating and a $400.00 price objective for the company. Morgan Stanley lowered their price target on Deere & Company from $450.00 to $425.00 and set an “overweight” rating for the company in a research report on Monday, August 26th. Raymond James started coverage on Deere & Company in a research note on Friday, June 28th. They set an “outperform” rating and a $420.00 target price on the stock. Citigroup raised their price target on Deere & Company from $395.00 to $420.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Finally, Evercore ISI boosted their price objective on shares of Deere & Company from $371.00 to $378.00 and gave the company an “in-line” rating in a research report on Monday, August 19th. Twelve analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Deere & Company presently has an average rating of “Hold” and a consensus price target of $420.69.

Deere & Company Price Performance

DE stock opened at $409.42 on Thursday. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.87 and a current ratio of 2.07. The firm has a 50 day moving average price of $390.66 and a 200-day moving average price of $385.36. Deere & Company has a 52-week low of $340.20 and a 52-week high of $420.47. The firm has a market capitalization of $112.82 billion, a price-to-earnings ratio of 12.32, a PEG ratio of 1.35 and a beta of 0.92.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 earnings per share for the quarter, beating analysts’ consensus estimates of $5.63 by $0.66. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The company had revenue of $11.39 billion during the quarter, compared to analyst estimates of $10.94 billion. During the same quarter last year, the company earned $10.20 EPS. The firm’s revenue for the quarter was down 20.3% on a year-over-year basis. Equities research analysts forecast that Deere & Company will post 25.03 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Monday, September 30th will be paid a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date is Monday, September 30th. Deere & Company’s payout ratio is 17.70%.

About Deere & Company

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.