Deere & Company $DE Shares Bought by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC raised its stake in Deere & Company (NYSE:DE) by 7.8% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 12,855 shares of the industrial products company’s stock after purchasing an additional 935 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Deere & Company were worth $7,336,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. One Day In July LLC bought a new stake in shares of Deere & Company in the 1st quarter valued at approximately $545,000. Independent Financial Group LLC acquired a new stake in shares of Deere & Company during the 1st quarter valued at approximately $2,954,000. Wealthfront Advisers LLC lifted its stake in Deere & Company by 11.6% during the first quarter. Wealthfront Advisers LLC now owns 32,960 shares of the industrial products company’s stock worth $18,566,000 after purchasing an additional 3,424 shares during the last quarter. NerdWallet Wealth Partners LLC bought a new position in Deere & Company during the first quarter worth $224,000. Finally, Twin Capital Management Inc. acquired a new position in Deere & Company in the first quarter worth $1,129,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Stock Performance

DE stock opened at $610.38 on Friday. Deere & Company has a 1 year low of $433.00 and a 1 year high of $674.19. The stock has a market capitalization of $164.77 billion, a price-to-earnings ratio of 34.58, a PEG ratio of 2.56 and a beta of 0.89. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.95 and a current ratio of 2.18. The stock’s fifty day moving average is $583.73 and its two-hundred day moving average is $575.72.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, May 21st. The industrial products company reported $6.55 EPS for the quarter, topping the consensus estimate of $5.70 by $0.85. The business had revenue of $13.37 billion during the quarter, compared to analyst estimates of $11.55 billion. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. The company’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $6.64 earnings per share. On average, research analysts predict that Deere & Company will post 18.27 EPS for the current year.

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Tuesday, June 30th will be given a $1.62 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $6.48 annualized dividend and a yield of 1.1%. Deere & Company’s dividend payout ratio is 36.71%.

Wall Street Analyst Weigh In

Several analysts have weighed in on DE shares. Wall Street Zen raised shares of Deere & Company from a “sell” rating to a “hold” rating in a report on Sunday, July 5th. Bank of America decreased their price target on shares of Deere & Company from $672.00 to $607.50 and set a “neutral” rating for the company in a report on Friday, May 22nd. Weiss Ratings raised shares of Deere & Company from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, May 21st. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $752.00 price objective on shares of Deere & Company in a research report on Monday, June 1st. Finally, Truist Financial increased their price objective on shares of Deere & Company from $759.00 to $812.00 and gave the stock a “buy” rating in a research note on Thursday, July 2nd. Fourteen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat, Deere & Company has a consensus rating of “Moderate Buy” and an average target price of $642.98.

About Deere & Company

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.