Meridian Wealth Management LLC Invests $6.32 Million in Deere & Company (NYSE:DE)

Meridian Wealth Management LLC bought a new position in Deere & Company (NYSE:DE) during the 3rd quarter, Holdings Channel reports. The firm bought 15,137 shares of the industrial products company’s stock, valued at approximately $6,317,000.

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

Deere & Company Stock Performance

Shares of Deere & Company stock opened at $436.75 on Friday. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $442.05. The company has a debt-to-equity ratio of 1.85, a current ratio of 2.07 and a quick ratio of 1.87. The firm has a market capitalization of $119.49 billion, a P/E ratio of 14.89, a P/E/G ratio of 1.54 and a beta of 0.93. The company’s 50 day moving average price is $405.95 and its two-hundred day moving average price is $386.18.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, topping analysts’ consensus estimates of $3.90 by $0.65. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The company had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.20 billion. During the same quarter in the previous year, the business earned $8.26 earnings per share. Deere & Company’s revenue was down 32.8% compared to the same quarter last year. On average, equities analysts forecast that Deere & Company will post 25 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The company also recently announced 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 yield of 1.35%. The ex-dividend date of this dividend was Monday, September 30th. Deere & Company’s dividend payout ratio is presently 20.06%.

Analyst Ratings Changes

Several brokerages have commented on DE. HSBC cut shares of Deere & Company from a “buy” rating to a “hold” rating in a research report on Monday, August 19th. Bank of America upped their target price on shares of Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a research note on Friday, August 16th. BMO Capital Markets assumed 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. Hsbc Global Res downgraded shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 19th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Deere & Company from $360.00 to $420.00 and gave the stock a “neutral” rating in a research note on Friday, October 11th. Twelve analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $425.59.

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.