HighTower Advisors LLC Has $139.31 Million Stock Holdings in Deere & Company $DE

HighTower Advisors LLC trimmed its position in shares of Deere & Company (NYSE:DE) by 2.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 219,618 shares of the industrial products company’s stock after selling 5,375 shares during the quarter. HighTower Advisors LLC owned 0.08% of Deere & Company worth $139,310,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. California State Teachers Retirement System lifted its holdings in Deere & Company by 60,460.4% during the second quarter. California State Teachers Retirement System now owns 234,586,018 shares of the industrial products company’s stock worth $148,804,949,000 after acquiring an additional 234,198,659 shares in the last quarter. BlackRock Inc. acquired a new position in Deere & Company during the 2nd quarter worth approximately $11,763,504,000. Norges Bank acquired a new position in Deere & Company during the fourth quarter worth $1,715,633,000. Capital World Investors lifted its position in Deere & Company by 53.9% during the 4th quarter. Capital World Investors now owns 9,592,004 shares of the industrial products company’s stock worth $4,465,906,000 after buying an additional 3,358,264 shares in the last quarter. Finally, Bank of America Corp DE bought a new stake in Deere & Company during the 2nd quarter worth about $1,685,093,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Trading Down 0.1%

NYSE DE opened at $692.68 on Monday. The firm has a market capitalization of $186.76 billion, a PE ratio of 38.48, a price-to-earnings-growth ratio of 2.86 and a beta of 0.90. The business’s 50-day moving average price is $619.13 and its two-hundred day moving average price is $596.25. The company has a current ratio of 2.10, a quick ratio of 1.89 and a debt-to-equity ratio of 1.45. Deere & Company has a 12 month low of $433.00 and a 12 month high of $705.88.

Deere & Company (NYSE:DE) last announced its earnings results 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 business had revenue of $12.61 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the prior year, the business posted $4.75 earnings per share. On average, analysts expect that Deere & Company will post 18.12 EPS for the current year.

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 9th. Investors of record on Wednesday, September 30th will be paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Wednesday, September 30th. Deere & Company’s dividend payout ratio (DPR) is currently 36.00%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Robert W. Baird upgraded Deere & Company from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $640.00 to $800.00 in a report on Monday, August 31st. Royal Bank Of Canada restated an “outperform” rating and set a $752.00 price objective on shares of Deere & Company in a report on Monday, August 24th. JPMorgan Chase & Co. boosted their target price on shares of Deere & Company from $570.00 to $585.00 and gave the company a “neutral” rating in a research report on Friday, August 21st. Citigroup increased their price target on Deere & Company from $610.00 to $650.00 and gave the stock a “neutral” rating in a research report on Friday, August 21st. Finally, Bank of America reduced their price objective on shares of Deere & Company from $672.00 to $607.50 and set a “neutral” rating on the stock in a research note on Friday, May 22nd. Sixteen equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat, Deere & Company currently has a consensus rating of “Moderate Buy” and a consensus price target of $680.73.

Deere & Company Profile

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.