Deere & Company (NYSE:DE) Position Increased by Cetera Investment Advisers

Cetera Investment Advisers increased its position in shares of Deere & Company (NYSE:DE) by 2.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 117,628 shares of the industrial products company’s stock after acquiring an additional 2,626 shares during the period. Cetera Investment Advisers’ holdings in Deere & Company were worth $55,209,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of DE. Assenagon Asset Management S.A. increased its position in Deere & Company by 58.9% during the first quarter. Assenagon Asset Management S.A. now owns 13,625 shares of the industrial products company’s stock worth $6,395,000 after buying an additional 5,053 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd increased its position in Deere & Company by 10.7% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 8,280 shares of the industrial products company’s stock worth $3,863,000 after buying an additional 798 shares during the last quarter. Stenger Family Office LLC acquired a new position in Deere & Company during the fourth quarter worth $3,144,000. Stratos Investment Management LLC acquired a new position in Deere & Company during the first quarter worth $271,000. Finally, Telos Capital Management Inc. increased its position in Deere & Company by 28.2% during the first quarter. Telos Capital Management Inc. now owns 3,391 shares of the industrial products company’s stock worth $1,592,000 after buying an additional 746 shares during the last quarter. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on DE. Melius raised Deere & Company from a “hold” rating to a “buy” rating in a research report on Friday, June 6th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Deere & Company in a research report on Thursday, May 15th. Evercore ISI raised their price target on Deere & Company from $455.00 to $493.00 and gave the company an “in-line” rating in a research report on Monday, May 19th. Citigroup lowered their price target on Deere & Company from $550.00 to $525.00 and set a “neutral” rating on the stock in a research report on Friday, May 30th. Finally, Oppenheimer raised their price target on Deere & Company from $555.00 to $560.00 and gave the company an “outperform” rating in a research report on Tuesday, July 15th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $515.50.

Deere & Company Stock Up 0.6%

Shares of DE opened at $517.58 on Friday. The stock has a market cap of $140.18 billion, a price-to-earnings ratio of 25.04, a P/E/G ratio of 3.26 and a beta of 1.08. The company has a quick ratio of 1.89, a current ratio of 2.11 and a debt-to-equity ratio of 1.76. Deere & Company has a 12 month low of $340.20 and a 12 month high of $533.78. The company has a 50-day moving average price of $513.03 and a two-hundred day moving average price of $483.78.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, May 15th. The industrial products company reported $6.64 EPS for the quarter, topping analysts’ consensus estimates of $5.72 by $0.92. The firm had revenue of $11.17 billion during the quarter, compared to analysts’ expectations of $10.80 billion. Deere & Company had a net margin of 12.40% and a return on equity of 24.39%. The company’s revenue for the quarter was down 17.9% compared to the same quarter last year. During the same quarter last year, the company earned $8.53 earnings per share. Equities analysts predict that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Monday, June 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 1.25%. The ex-dividend date is Monday, June 30th. Deere & Company’s dividend payout ratio is 31.35%.

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.