Fortitude Advisory Group L.L.C. Acquires 350 Shares of Deere & Company $DE

Fortitude Advisory Group L.L.C. raised its holdings in Deere & Company (NYSE:DE) by 26.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,681 shares of the industrial products company’s stock after purchasing an additional 350 shares during the quarter. Fortitude Advisory Group L.L.C.’s holdings in Deere & Company were worth $855,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Activest Wealth Management grew its stake in shares of Deere & Company by 2,750.0% during the 1st quarter. Activest Wealth Management now owns 57 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 55 shares during the period. Hughes Financial Services LLC bought a new position in shares of Deere & Company during the 1st quarter worth $29,000. Cornerstone Planning Group LLC grew its stake in shares of Deere & Company by 116.1% during the 1st quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 36 shares during the period. Marshall & Sullivan Inc. WA bought a new position in shares of Deere & Company during the 2nd quarter worth $38,000. Finally, Livelsberger Financial Advisory bought a new position in shares of Deere & Company during the 2nd quarter worth $39,000. Institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Performance

NYSE:DE opened at $462.59 on Friday. The business’s 50-day moving average price is $484.64 and its two-hundred day moving average price is $489.15. Deere & Company has a twelve month low of $387.03 and a twelve month high of $533.78. The stock has a market cap of $125.05 billion, a P/E ratio of 24.18, a PEG ratio of 2.98 and a beta of 1.02. The company has a quick ratio of 1.98, a current ratio of 2.19 and a debt-to-equity ratio of 1.76.

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

Deere & Company Announces Dividend

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

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on DE shares. Wolfe Research cut their price target on Deere & Company from $550.00 to $520.00 and set an “outperform” rating for the company in a research note on Friday. Wall Street Zen upgraded Deere & Company from a “sell” rating to a “hold” rating in a research note on Saturday. Truist Financial cut their price target on Deere & Company from $619.00 to $602.00 and set a “buy” rating for the company in a research note on Friday, August 15th. Daiwa Capital Markets dropped their price objective on Deere & Company from $565.00 to $530.00 and set an “outperform” rating on the stock in a report on Thursday, September 25th. Finally, JPMorgan Chase & Co. dropped their price objective on Deere & Company from $500.00 to $495.00 and set a “neutral” rating on the stock in a report on Tuesday, September 2nd. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $518.18.

Deere & Company 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.