Heritage Wealth Management Inc. Acquires New Shares in Deere & Company (NYSE:DE)

Heritage Wealth Management Inc. acquired a new stake in Deere & Company (NYSE:DE) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 5,482 shares of the industrial products company’s stock, valued at approximately $1,974,000.

Several other institutional investors and hedge funds have also modified their holdings of DE. True Wealth Design LLC raised its holdings in Deere & Company by 1,180.0% in the 4th quarter. True Wealth Design LLC now owns 64 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 59 shares during the period. Pineridge Advisors LLC raised its holdings in Deere & Company by 725.0% in the 1st quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 58 shares during the period. Fairscale Capital LLC bought a new position in shares of Deere & Company during the 2nd quarter worth about $26,000. Livelsberger Financial Advisory bought a new position in shares of Deere & Company during the 4th quarter worth about $30,000. Finally, Spartan Planning & Wealth Management bought a new position in shares of Deere & Company during the 4th quarter worth about $33,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Citigroup dropped their price objective on shares of Deere & Company from $395.00 to $370.00 and set a “neutral” rating on the stock in a report on Tuesday, August 13th. HSBC lowered shares of Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, August 19th. Oppenheimer cut their price objective on shares of Deere & Company from $465.00 to $448.00 and set an “outperform” rating on the stock in a report on Monday, July 22nd. Morgan Stanley reduced their target price on Deere & Company from $450.00 to $425.00 and set an “overweight” rating on the stock in a report on Monday, August 26th. Finally, Hsbc Global Res lowered shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 19th. Thirteen investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $410.50.

Deere & Company Price Performance

NYSE:DE opened at $416.47 on Wednesday. Deere & Company has a 1-year low of $340.20 and a 1-year high of $420.47. The company has a current ratio of 2.07, a quick ratio of 1.87 and a debt-to-equity ratio of 1.85. The firm has a fifty day simple moving average of $381.16 and a 200 day simple moving average of $384.65. The stock has a market capitalization of $114.77 billion, a PE ratio of 12.54, a P/E/G ratio of 1.36 and a beta of 0.92.

Deere & Company (NYSE:DE) last released 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. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The business had revenue of $11.39 billion during the quarter, compared to analysts’ expectations of $10.94 billion. During the same period last year, the business earned $10.20 earnings per share. The firm’s revenue was down 20.3% on a year-over-year basis. On average, research analysts expect that Deere & Company will post 25.03 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Monday, September 30th will be issued a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a yield of 1.41%. The ex-dividend date is Monday, September 30th. Deere & Company’s dividend payout ratio is 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.