Farther Finance Advisors LLC Boosts Stock Position in Deere & Company (NYSE:DE)

Farther Finance Advisors LLC increased its stake in Deere & Company (NYSE:DE) by 40.1% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,531 shares of the industrial products company’s stock after purchasing an additional 1,011 shares during the quarter. Farther Finance Advisors LLC’s holdings in Deere & Company were worth $1,275,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. True Wealth Design LLC lifted its stake in Deere & Company by 1,180.0% in the 4th quarter. True Wealth Design LLC now owns 64 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 59 shares in the last quarter. Pineridge Advisors LLC raised its position in shares of Deere & Company by 725.0% in the first quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock worth $27,000 after buying an additional 58 shares in the last quarter. Private Wealth Management Group LLC bought a new stake in Deere & Company during the fourth quarter valued at $29,000. Livelsberger Financial Advisory purchased a new position in Deere & Company during the fourth quarter worth about $30,000. Finally, Spartan Planning & Wealth Management bought a new position in Deere & Company in the 4th quarter worth about $33,000. 68.58% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Cory J. Reed sold 13,370 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $377.63, for a total transaction of $5,048,913.10. Following the completion of the transaction, the insider now owns 41,642 shares in the company, valued at $15,725,268.46. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.26% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on DE. Truist Financial reiterated a “buy” rating and set a $443.00 price target (up previously from $439.00) on shares of Deere & Company in a research report on Friday, August 16th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a research note on Thursday, August 8th. Evercore ISI boosted their price target on shares of Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a research note on Monday, August 19th. Oppenheimer lowered their price objective on shares of Deere & Company from $465.00 to $448.00 and set an “outperform” rating on the stock in a research report on Monday, July 22nd. Finally, HSBC lowered shares of Deere & Company from a “buy” rating to a “hold” rating in a research report on Monday, August 19th. Fourteen analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $414.11.

Deere & Company Stock Performance

Shares of DE stock opened at $385.74 on Monday. The company has a market capitalization of $106.30 billion, a P/E ratio of 11.61, a PEG ratio of 1.28 and a beta of 0.93. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $423.35. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.87 and a current ratio of 2.07. The stock has a 50 day moving average price of $367.94 and a two-hundred day moving average price of $379.78.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, beating analysts’ consensus estimates of $5.63 by $0.66. The company had revenue of $11.39 billion during the quarter, compared to analyst estimates of $10.94 billion. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The firm’s revenue was down 20.3% compared to the same quarter last year. During the same period in the prior year, the business posted $10.20 EPS. Analysts expect that Deere & Company will post 25.09 earnings per share for the current year.

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Monday, September 30th will be issued a dividend of $1.47 per share. The ex-dividend date is Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.52%. Deere & Company’s dividend payout ratio is currently 17.70%.

About Deere & Company

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.