Envestnet Asset Management Inc. Acquires 34,262 Shares of Deere & Company (NYSE:DE)

Envestnet Asset Management Inc. grew its stake in shares of Deere & Company (NYSE:DE) by 12.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 303,541 shares of the industrial products company’s stock after buying an additional 34,262 shares during the period. Envestnet Asset Management Inc. owned 0.11% of Deere & Company worth $113,412,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of DE. True Wealth Design LLC boosted its stake in Deere & Company by 1,180.0% during the fourth quarter. True Wealth Design LLC now owns 64 shares of the industrial products company’s stock valued at $26,000 after buying an additional 59 shares during the last quarter. Pineridge Advisors LLC boosted its position in shares of Deere & Company by 725.0% during the 1st quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 58 shares during the last quarter. Livelsberger Financial Advisory purchased a new position in shares of Deere & Company in the fourth quarter valued at $30,000. Spartan Planning & Wealth Management bought a new stake in Deere & Company in the fourth quarter worth $33,000. Finally, Core Wealth Advisors Inc. raised its stake in Deere & Company by 466.7% during the fourth quarter. Core Wealth Advisors Inc. now owns 85 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 70 shares in the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Insider Activity

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

Deere & Company Stock Down 0.0 %

Shares of NYSE DE opened at $394.66 on Tuesday. Deere & Company has a 52-week low of $340.20 and a 52-week high of $417.46. The firm has a market capitalization of $108.76 billion, a price-to-earnings ratio of 11.88, a PEG ratio of 1.29 and a beta of 0.92. The stock has a 50 day moving average price of $372.50 and a 200 day moving average price of $381.84. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.87 and a current ratio of 2.07.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share for the quarter, topping the consensus estimate of $5.63 by $0.66. The business had revenue of $11.39 billion during the quarter, compared to analysts’ expectations of $10.94 billion. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The business’s revenue for the quarter was down 20.3% compared to the same quarter last year. During the same period in the prior year, the business earned $10.20 EPS. Sell-side analysts expect that Deere & Company will post 25.07 earnings per share for the current year.

Deere & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Monday, September 30th will be given a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date of this dividend is Monday, September 30th. Deere & Company’s dividend payout ratio (DPR) is 17.70%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on DE. Bank of America boosted their target price on shares of Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a report on Friday, August 16th. DA Davidson decreased their price objective on Deere & Company from $483.00 to $465.00 and set a “buy” rating on the stock in a research report on Monday, May 20th. Citigroup dropped their target price on Deere & Company from $395.00 to $370.00 and set a “neutral” rating for the company in a report on Tuesday, August 13th. HSBC lowered Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, August 19th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Deere & Company from $375.00 to $360.00 and set a “neutral” rating for the company in a research note on Tuesday, August 13th. Fourteen analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $409.88.

Deere & Company Company Profile

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.