Orion Porfolio Solutions LLC Acquires 6,764 Shares of Deere & Company $DE

Orion Porfolio Solutions LLC raised its holdings in Deere & Company (NYSE:DE) by 51.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,875 shares of the industrial products company’s stock after purchasing an additional 6,764 shares during the period. Orion Porfolio Solutions LLC’s holdings in Deere & Company were worth $10,106,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of DE. Southland Equity Partners LLC grew its holdings in Deere & Company by 3.9% during the 2nd quarter. Southland Equity Partners LLC now owns 534 shares of the industrial products company’s stock valued at $271,000 after buying an additional 20 shares in the last quarter. Vivid Wealth Management LLC grew its position in shares of Deere & Company by 1.9% during the 2nd quarter. Vivid Wealth Management LLC now owns 1,088 shares of the industrial products company’s stock valued at $553,000 after purchasing an additional 20 shares in the last quarter. Werba Rubin Papier Wealth Management increased its holdings in shares of Deere & Company by 3.0% in the second quarter. Werba Rubin Papier Wealth Management now owns 676 shares of the industrial products company’s stock worth $344,000 after purchasing an additional 20 shares during the period. Prairie Wealth Advisors Inc. raised its position in shares of Deere & Company by 2.1% in the second quarter. Prairie Wealth Advisors Inc. now owns 964 shares of the industrial products company’s stock worth $492,000 after buying an additional 20 shares in the last quarter. Finally, Tyler Stone Wealth Management boosted its stake in Deere & Company by 1.7% during the first quarter. Tyler Stone Wealth Management now owns 1,230 shares of the industrial products company’s stock valued at $577,000 after buying an additional 21 shares during the period. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Trading Up 2.0%

Shares of DE opened at $485.35 on Monday. Deere & Company has a 1-year low of $403.01 and a 1-year high of $533.78. The company has a current ratio of 2.22, a quick ratio of 2.01 and a debt-to-equity ratio of 1.68. The firm’s 50-day moving average price is $469.02 and its 200-day moving average price is $487.41. The firm has a market capitalization of $131.20 billion, a price-to-earnings ratio of 26.22, a PEG ratio of 1.83 and a beta of 1.00.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Wednesday, November 26th. The industrial products company reported $3.93 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.96 by ($0.03). Deere & Company had a return on equity of 20.54% and a net margin of 11.00%.The firm had revenue of $12.39 billion during the quarter, compared to the consensus estimate of $9.77 billion. During the same quarter last year, the company posted $4.55 EPS. Deere & Company’s revenue for the quarter was up 14.1% compared to the same quarter last year. Sell-side analysts anticipate that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 9th. Investors of record on Wednesday, December 31st will be paid a dividend of $1.62 per share. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $6.48 annualized dividend and a yield of 1.3%. Deere & Company’s payout ratio is presently 35.01%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on DE. Sanford C. Bernstein reissued a “market perform” rating on shares of Deere & Company in a report on Tuesday, December 9th. Jefferies Financial Group raised their price target on Deere & Company from $440.00 to $475.00 and gave the company a “hold” rating in a research report on Tuesday, December 9th. BMO Capital Markets reiterated a “market perform” rating and issued a $460.00 target price on shares of Deere & Company in a research report on Tuesday, December 9th. Royal Bank Of Canada reduced their price objective on Deere & Company from $542.00 to $541.00 and set an “outperform” rating on the stock in a research note on Friday, November 28th. Finally, Daiwa Capital Markets decreased their price objective on Deere & Company from $530.00 to $520.00 and set an “outperform” rating on the stock in a report on Tuesday, December 2nd. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Deere & Company currently has a consensus rating of “Moderate Buy” and an average target price of $523.70.

Insider Buying and Selling

In other Deere & Company news, CEO John C. May II sold 11,106 shares of the company’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $500.08, for a total value of $5,553,888.48. Following the sale, the chief executive officer owned 112,453 shares in the company, valued at approximately $56,235,496.24. This represents a 8.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.29% of the stock is owned by insiders.

About Deere & Company

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.