Deere & Company $DE Stock Position Lifted by Elevate Capital Advisors LLC

Elevate Capital Advisors LLC boosted its stake in shares of Deere & Company (NYSE:DE) by 1.4% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,206 shares of the industrial products company’s stock after purchasing an additional 44 shares during the period. Elevate Capital Advisors LLC’s holdings in Deere & Company were worth $1,630,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in DE. Activest Wealth Management grew its position in Deere & Company by 2,750.0% during the first quarter. Activest Wealth Management now owns 57 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 55 shares in the last quarter. Hughes Financial Services LLC purchased a new position in Deere & Company during the first quarter valued at approximately $29,000. Cornerstone Planning Group LLC grew its position in Deere & Company by 116.1% during the first quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 36 shares in the last quarter. Marshall & Sullivan Inc. WA purchased a new position in Deere & Company during the second quarter valued at approximately $38,000. Finally, Livelsberger Financial Advisory purchased a new position in Deere & Company during the second quarter valued at approximately $39,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Truist Financial lowered their price objective on shares of Deere & Company from $619.00 to $602.00 and set a “buy” rating on the stock in a research report on Friday, August 15th. Melius upgraded shares of Deere & Company from a “hold” rating to a “buy” rating in a research note on Friday, June 6th. Robert W. Baird reduced their target price on shares of Deere & Company from $520.00 to $488.00 and set a “neutral” rating for the company in a research note on Friday, August 15th. JPMorgan Chase & Co. reduced their target price on shares of Deere & Company from $500.00 to $495.00 and set a “neutral” rating for the company in a research note on Tuesday, September 2nd. Finally, Melius Research upgraded shares of Deere & Company from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 6th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $518.18.

Deere & Company Price Performance

Shares of Deere & Company stock opened at $462.59 on Friday. The stock has a market capitalization of $125.05 billion, a price-to-earnings ratio of 24.18, a PEG ratio of 2.97 and a beta of 1.02. Deere & Company has a 1-year low of $387.03 and a 1-year high of $533.78. The firm has a fifty day simple moving average of $484.64 and a 200-day simple moving average of $489.09. The company has a current ratio of 2.19, a quick ratio of 1.98 and a debt-to-equity ratio of 1.76.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, August 14th. The industrial products company reported $4.75 EPS for the quarter, beating the consensus estimate of $4.62 by $0.13. The firm had revenue of $10.36 billion during the quarter, compared to analysts’ expectations of $10.33 billion. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The business’s quarterly revenue was down 9.0% compared to the same quarter last year. During the same period in the prior year, the company earned $6.29 EPS. On average, sell-side analysts expect that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Tuesday, September 30th will be paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 1.4%. The ex-dividend date is Tuesday, September 30th. Deere & Company’s dividend payout ratio is presently 33.87%.

Deere & Company Profile

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.