Elevation Point Wealth Partners LLC Boosts Holdings in Deere & Company $DE

Elevation Point Wealth Partners LLC boosted its holdings in shares of Deere & Company (NYSE:DE) by 63.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,104 shares of the industrial products company’s stock after buying an additional 1,210 shares during the quarter. Elevation Point Wealth Partners LLC’s holdings in Deere & Company were worth $1,578,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Mid American Wealth Advisory Group Inc. purchased a new position in shares of Deere & Company during the 2nd quarter worth $25,000. Activest Wealth Management raised its holdings in Deere & Company by 2,750.0% in the 1st quarter. Activest Wealth Management now owns 57 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 55 shares during the period. Marshall & Sullivan Inc. WA bought a new position in Deere & Company in the 2nd quarter worth $38,000. Livelsberger Financial Advisory purchased a new position in Deere & Company during the second quarter valued at $39,000. Finally, Center for Financial Planning Inc. lifted its position in Deere & Company by 406.7% during the second quarter. Center for Financial Planning Inc. now owns 76 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 61 shares in the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on DE shares. Wall Street Zen upgraded Deere & Company from a “sell” rating to a “hold” rating in a research report on Sunday, November 16th. Robert W. Baird cut their price objective on Deere & Company from $488.00 to $467.00 and set a “neutral” rating for the company in a research note on Monday, October 13th. Royal Bank Of Canada began coverage on shares of Deere & Company in a report on Wednesday, October 22nd. They issued an “outperform” rating and a $542.00 target price for the company. JPMorgan Chase & Co. decreased their target price on shares of Deere & Company from $495.00 to $480.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 14th. Finally, Wolfe Research lowered their price target on shares of Deere & Company from $550.00 to $520.00 and set an “outperform” rating on the stock in a report on Friday, October 3rd. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Deere & Company has a consensus rating of “Moderate Buy” and an average target price of $519.85.

Deere & Company Stock Down 5.7%

NYSE DE opened at $469.95 on Friday. Deere & Company has a 12 month low of $403.01 and a 12 month high of $533.78. The company has a current ratio of 2.19, a quick ratio of 1.98 and a debt-to-equity ratio of 1.76. The stock has a market cap of $127.04 billion, a PE ratio of 24.57, a P/E/G ratio of 3.05 and a beta of 1.04. The stock’s 50 day moving average is $467.18 and its 200 day moving average is $490.79.

Deere & Company (NYSE:DE) last announced 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 net margin of 11.72% and a return on equity of 21.97%. The company had revenue of $12.39 billion for the quarter, compared to analysts’ expectations of $9.77 billion. During the same period last year, the business earned $4.55 earnings per share. The company’s quarterly revenue was up 14.1% compared to the same quarter last year. Research analysts predict that Deere & Company will post 19.32 EPS for the current fiscal year.

Insiders Place Their Bets

In other Deere & Company news, CEO John C. May II sold 11,106 shares of Deere & Company stock in a transaction on 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 directly owned 112,453 shares in the company, valued at approximately $56,235,496.24. The trade was a 8.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.29% of the company’s stock.

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.