Sequoia Financial Advisors LLC Grows Stock Position in Deere & Company $DE

Sequoia Financial Advisors LLC grew its holdings in shares of Deere & Company (NYSE:DEFree Report) by 40.0% in the 4th quarter, Holdings Channel.com reports. The firm owned 16,946 shares of the industrial products company’s stock after purchasing an additional 4,845 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Deere & Company were worth $7,890,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. WealthShield Partners LLC purchased a new stake in Deere & Company in the 4th quarter worth approximately $271,000. Ponta Wealth Partners LLC purchased a new stake in Deere & Company in the 4th quarter worth approximately $693,000. Fire Capital Management LLC increased its holdings in Deere & Company by 7.1% in the 4th quarter. Fire Capital Management LLC now owns 6,183 shares of the industrial products company’s stock worth $2,879,000 after acquiring an additional 408 shares in the last quarter. Indivisible Partners purchased a new stake in Deere & Company in the 4th quarter worth approximately $1,063,000. Finally, RFG Advisory LLC increased its holdings in Deere & Company by 4.8% in the 4th quarter. RFG Advisory LLC now owns 3,771 shares of the industrial products company’s stock worth $1,755,000 after acquiring an additional 173 shares in the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Trading Down 1.9%

DE stock opened at $580.67 on Friday. Deere & Company has a 1-year low of $433.00 and a 1-year high of $674.19. The company has a debt-to-equity ratio of 1.59, a current ratio of 2.21 and a quick ratio of 1.96. The company has a market capitalization of $156.84 billion, a price-to-earnings ratio of 32.73, a PEG ratio of 2.06 and a beta of 0.96. The business has a 50 day simple moving average of $586.28 and a two-hundred day simple moving average of $532.75.

Deere & Company (NYSE:DEGet Free Report) last posted its quarterly earnings results on Thursday, February 19th. The industrial products company reported $2.42 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.52. Deere & Company had a return on equity of 18.93% and a net margin of 10.29%.The business had revenue of $9.61 billion during the quarter, compared to the consensus estimate of $7.50 billion. During the same period in the prior year, the company posted $3.19 EPS. The firm’s revenue for the quarter was up 17.5% compared to the same quarter last year. Research analysts anticipate that Deere & Company will post 18.01 EPS for the current fiscal year.

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 8th. Investors of record on Tuesday, March 31st will be given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Tuesday, March 31st. Deere & Company’s payout ratio is currently 36.53%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on DE shares. Citigroup reduced their target price on shares of Deere & Company from $675.00 to $625.00 and set a “neutral” rating for the company in a report on Monday, March 9th. Jefferies Financial Group raised shares of Deere & Company from an “underperform” rating to a “hold” rating and set a $550.00 target price for the company in a report on Wednesday, April 8th. Barclays increased their target price on shares of Deere & Company from $530.00 to $640.00 and gave the stock an “overweight” rating in a report on Tuesday, March 31st. Wells Fargo & Company increased their target price on shares of Deere & Company from $543.00 to $750.00 and gave the stock an “overweight” rating in a report on Friday, February 20th. Finally, UBS Group increased their target price on shares of Deere & Company from $535.00 to $775.00 and gave the stock a “buy” rating in a report on Friday, February 20th. Sixteen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $655.45.

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Deere & Company Profile

(Free Report)

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.

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Institutional Ownership by Quarter for Deere & Company (NYSE:DE)

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