Deere & Company (NYSE:DE) Shares Acquired by EverSource Wealth Advisors LLC

EverSource Wealth Advisors LLC raised its holdings in shares of Deere & Company (NYSE:DE) by 6.8% in the 1st quarter, HoldingsChannel.com reports. The fund owned 8,310 shares of the industrial products company’s stock after buying an additional 528 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Deere & Company were worth $3,900,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of DE. Chicago Partners Investment Group LLC increased its holdings in shares of Deere & Company by 1.2% during the 1st quarter. Chicago Partners Investment Group LLC now owns 1,803 shares of the industrial products company’s stock valued at $852,000 after purchasing an additional 21 shares in the last quarter. Sunbelt Securities Inc. increased its holdings in shares of Deere & Company by 2.4% during the 1st quarter. Sunbelt Securities Inc. now owns 925 shares of the industrial products company’s stock valued at $434,000 after purchasing an additional 22 shares in the last quarter. First Bancorp Inc ME increased its holdings in shares of Deere & Company by 4.7% during the 1st quarter. First Bancorp Inc ME now owns 509 shares of the industrial products company’s stock valued at $239,000 after purchasing an additional 23 shares in the last quarter. Leisure Capital Management increased its holdings in shares of Deere & Company by 0.8% during the 1st quarter. Leisure Capital Management now owns 2,886 shares of the industrial products company’s stock valued at $1,355,000 after purchasing an additional 23 shares in the last quarter. Finally, World Equity Group Inc. increased its holdings in shares of Deere & Company by 4.5% during the 1st quarter. World Equity Group Inc. now owns 552 shares of the industrial products company’s stock valued at $244,000 after purchasing an additional 24 shares in the last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Trading Down 6.5%

Shares of DE opened at $480.02 on Friday. Deere & Company has a 52-week low of $357.90 and a 52-week high of $533.78. The company has a quick ratio of 1.89, a current ratio of 2.11 and a debt-to-equity ratio of 1.76. The firm’s fifty day moving average is $511.80 and its two-hundred day moving average is $489.83. The stock has a market cap of $130.00 billion, a PE ratio of 23.22, a price-to-earnings-growth ratio of 3.26 and a beta of 1.06.

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, topping the consensus estimate of $4.62 by $0.13. The company had revenue of $10.36 billion for the quarter, compared to analysts’ expectations of $10.33 billion. Deere & Company had a net margin of 12.40% and a return on equity of 24.39%. The firm’s quarterly revenue was down 9.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $6.29 EPS. Research analysts forecast that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 8th. Stockholders of record on Monday, June 30th were given a dividend of $1.62 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.3%. Deere & Company’s payout ratio is presently 31.35%.

Analyst Ratings Changes

Several research firms have recently weighed in on DE. JPMorgan Chase & Co. lifted their target price on shares of Deere & Company from $490.00 to $540.00 and gave the company a “neutral” rating in a report on Friday, May 16th. Barclays boosted their price target on shares of Deere & Company from $475.00 to $530.00 and gave the stock an “overweight” rating in a report on Friday, May 16th. Raymond James Financial boosted their price target on shares of Deere & Company from $530.00 to $560.00 and gave the stock an “outperform” rating in a report on Friday, May 16th. Evercore ISI boosted their price target on shares of Deere & Company from $455.00 to $493.00 and gave the stock an “in-line” rating in a report on Monday, May 19th. Finally, Citigroup cut their price target on shares of Deere & Company from $550.00 to $525.00 and set a “neutral” rating for the company in a report on Friday, May 30th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $523.93.

Deere & Company 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.