Deere & Company $DE Shares Acquired by NewEdge Advisors LLC

NewEdge Advisors LLC lifted its position in shares of Deere & Company (NYSE:DE) by 11.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,459 shares of the industrial products company’s stock after acquiring an additional 4,586 shares during the quarter. NewEdge Advisors LLC’s holdings in Deere & Company were worth $27,567,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Brighton Jones LLC raised its holdings in Deere & Company by 39.1% in the 4th quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company’s stock worth $1,927,000 after purchasing an additional 1,278 shares during the period. Schnieders Capital Management LLC. increased its position in shares of Deere & Company by 7.8% in the second quarter. Schnieders Capital Management LLC. now owns 2,076 shares of the industrial products company’s stock valued at $1,056,000 after buying an additional 150 shares in the last quarter. Jump Financial LLC acquired a new position in shares of Deere & Company during the 2nd quarter worth approximately $2,153,000. Main Street Financial Solutions LLC raised its stake in shares of Deere & Company by 6.7% during the 2nd quarter. Main Street Financial Solutions LLC now owns 1,551 shares of the industrial products company’s stock worth $789,000 after buying an additional 97 shares during the period. Finally, Ieq Capital LLC lifted its position in shares of Deere & Company by 52.0% during the 2nd quarter. Ieq Capital LLC now owns 13,170 shares of the industrial products company’s stock valued at $6,696,000 after buying an additional 4,508 shares in the last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on DE. Raymond James Financial lifted their price target on shares of Deere & Company from $700.00 to $730.00 and gave the company an “outperform” rating in a research note on Monday, August 31st. Truist Financial reduced their price objective on shares of Deere & Company from $812.00 to $804.00 and set a “buy” rating for the company in a research report on Monday, August 24th. Bank of America decreased their price objective on shares of Deere & Company from $672.00 to $607.50 and set a “neutral” rating on the stock in a report on Friday, May 22nd. Citigroup lifted their target price on shares of Deere & Company from $610.00 to $650.00 and gave the company a “neutral” rating in a research report on Friday, August 21st. Finally, Weiss Ratings cut shares of Deere & Company from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, September 2nd. Sixteen equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $680.73.

Deere & Company Stock Performance

Shares of NYSE:DE opened at $677.52 on Thursday. The company has a debt-to-equity ratio of 1.45, a current ratio of 2.10 and a quick ratio of 1.89. Deere & Company has a 1 year low of $433.00 and a 1 year high of $705.88. The firm has a market capitalization of $182.67 billion, a PE ratio of 37.64, a P/E/G ratio of 2.81 and a beta of 0.90. The business’s 50 day moving average price is $622.35 and its 200-day moving average price is $597.71.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, August 20th. The industrial products company reported $5.10 EPS for the quarter, beating the consensus estimate of $4.69 by $0.41. The firm had revenue of $12.61 billion during the quarter, compared to the consensus estimate of $10.81 billion. Deere & Company had a return on equity of 18.10% and a net margin of 10.16%.The firm’s revenue was up 6.2% compared to the same quarter last year. During the same period in the prior year, the company earned $4.75 EPS. As a group, equities research analysts expect that Deere & Company will post 18.12 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 9th. Stockholders of record on Wednesday, September 30th will be given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Wednesday, September 30th. Deere & Company’s dividend payout ratio is 36.00%.

About Deere & Company

Deere & Company, operating under the John Deere brand, is a global manufacturer of agricultural, construction, forestry and turf-care equipment. Its products include tractors, combines, harvesters, planters, sprayers, loaders, excavators, skid steers, forestry machines, commercial mowing equipment and compact utility tractors. The company also develops precision agriculture and construction technologies, including machine guidance, automation, data-management and connected-equipment solutions.

Founded by blacksmith John Deere in 1837, the company has grown from its original steel plow business into a diversified equipment and technology provider.