EverSource Wealth Advisors LLC Raises Stock Position in Deere & Company (NYSE:DE)

EverSource Wealth Advisors LLC grew its stake in Deere & Company (NYSE:DE) by 10.6% in the 2nd quarter, Holdings Channel reports. The firm owned 7,837 shares of the industrial products company’s stock after purchasing an additional 750 shares during the period. EverSource Wealth Advisors LLC’s holdings in Deere & Company were worth $2,915,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of DE. Vanguard Group Inc. lifted its holdings in Deere & Company by 1.2% in the first quarter. Vanguard Group Inc. now owns 21,988,363 shares of the industrial products company’s stock worth $9,031,500,000 after buying an additional 263,709 shares during the period. Janus Henderson Group PLC lifted its stake in shares of Deere & Company by 0.5% in the 1st quarter. Janus Henderson Group PLC now owns 3,859,021 shares of the industrial products company’s stock valued at $1,585,028,000 after purchasing an additional 19,200 shares during the period. Parnassus Investments LLC boosted its position in shares of Deere & Company by 22.4% during the fourth quarter. Parnassus Investments LLC now owns 3,856,171 shares of the industrial products company’s stock valued at $1,541,967,000 after purchasing an additional 705,771 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Deere & Company by 15.0% in the second quarter. Dimensional Fund Advisors LP now owns 2,146,441 shares of the industrial products company’s stock worth $802,037,000 after purchasing an additional 279,627 shares during the period. Finally, Fisher Asset Management LLC raised its holdings in Deere & Company by 11.3% in the fourth quarter. Fisher Asset Management LLC now owns 1,481,458 shares of the industrial products company’s stock worth $592,391,000 after purchasing an additional 150,713 shares in the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Deere & Company news, insider Cory J. Reed sold 13,370 shares of the 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 of the company’s stock, valued at $15,725,268.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Bank of America lifted their price target on shares of Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a research report on Friday, August 16th. HSBC lowered shares of Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, August 19th. Citigroup reduced their price objective on Deere & Company from $395.00 to $370.00 and set a “neutral” rating for the company in a research report on Tuesday, August 13th. JPMorgan Chase & Co. lowered their price objective on Deere & Company from $375.00 to $360.00 and set a “neutral” rating for the company in a research note on Tuesday, August 13th. Finally, Hsbc Global Res downgraded Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, August 19th. Fourteen equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $409.88.

Deere & Company Stock Performance

Shares of DE stock opened at $405.89 on Friday. Deere & Company has a 52-week low of $340.20 and a 52-week high of $417.46. The company has a quick ratio of 1.87, a current ratio of 2.07 and a debt-to-equity ratio of 1.85. The stock has a market cap of $111.85 billion, a PE ratio of 12.22, a price-to-earnings-growth ratio of 1.29 and a beta of 0.92. The business has a 50-day simple moving average of $376.24 and a 200-day simple moving average of $382.77.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, beating the consensus estimate of $5.63 by $0.66. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The company had revenue of $11.39 billion for the quarter, compared to analyst estimates of $10.94 billion. During the same quarter last year, the business earned $10.20 earnings per share. The firm’s revenue was down 20.3% on a year-over-year basis. On average, equities analysts expect that Deere & Company will post 25.07 EPS for the current year.

Deere & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Monday, September 30th will be paid a dividend of $1.47 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.45%. Deere & Company’s dividend payout ratio is currently 17.70%.

Deere & 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.