Deere & Company $DE Position Raised by Cornerstone Advisors LLC

Cornerstone Advisors LLC boosted its position in Deere & Company (NYSE:DE) by 5.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 37,100 shares of the industrial products company’s stock after purchasing an additional 1,800 shares during the period. Cornerstone Advisors LLC’s holdings in Deere & Company were worth $18,865,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of DE. Mid American Wealth Advisory Group Inc. acquired a new stake in shares of Deere & Company in the second quarter valued at $25,000. Activest Wealth Management raised its position in Deere & Company by 2,750.0% in the first quarter. Activest Wealth Management now owns 57 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 55 shares in the last quarter. Marshall & Sullivan Inc. WA acquired a new stake in Deere & Company in the 2nd quarter valued at about $38,000. Livelsberger Financial Advisory bought a new position in shares of Deere & Company during the 2nd quarter valued at about $39,000. Finally, Center for Financial Planning Inc. boosted its position in shares of Deere & Company by 406.7% during the 2nd quarter. Center for Financial Planning Inc. now owns 76 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 61 shares in the last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently commented on DE. Oppenheimer cut their target price on shares of Deere & Company from $566.00 to $512.00 and set an “outperform” rating for the company in a research note on Thursday, September 18th. Truist Financial upped their price target on Deere & Company from $602.00 to $609.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Wells Fargo & Company initiated coverage on Deere & Company in a research report on Thursday. They set an “overweight” rating and a $543.00 price objective for the company. Evercore ISI set a $491.00 price objective on Deere & Company in a research note on Tuesday, August 19th. Finally, UBS Group reaffirmed a “buy” rating on shares of Deere & Company in a research report on Tuesday, October 28th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $520.05.

Deere & Company Trading Up 0.5%

Deere & Company stock opened at $475.76 on Friday. The company has a 50 day moving average price of $466.04 and a 200 day moving average price of $490.89. Deere & Company has a 52 week low of $390.00 and a 52 week high of $533.78. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.98 and a current ratio of 2.19. The firm has a market capitalization of $128.61 billion, a price-to-earnings ratio of 24.87, a P/E/G ratio of 3.05 and a beta of 1.04.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.62 by $0.13. The company had revenue of $10.36 billion for the quarter, compared to the consensus estimate of $10.33 billion. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The company’s revenue was down 9.0% on a year-over-year basis. During the same period in the previous year, the business earned $6.29 EPS. Research analysts forecast that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, November 10th. Stockholders of record on Tuesday, September 30th were issued a dividend of $1.62 per share. The ex-dividend date was Tuesday, September 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.4%. Deere & Company’s payout ratio is currently 33.87%.

Deere & Company Profile

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.