Wealth Preservation Advisors LLC Takes $585,000 Position in Deere & Company $DE

Wealth Preservation Advisors LLC bought a new stake in Deere & Company (NYSE:DE) in the first quarter, Holdings Channel.com reports. The institutional investor bought 1,246 shares of the industrial products company’s stock, valued at approximately $585,000.

A number of other hedge funds also recently modified their holdings of the business. Brighton Jones LLC raised its holdings in shares of Deere & Company by 39.1% during the fourth quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company’s stock worth $1,927,000 after acquiring an additional 1,278 shares in the last quarter. Bellwether Advisors LLC purchased a new stake in shares of Deere & Company during the fourth quarter worth $64,000. AQR Capital Management LLC raised its holdings in shares of Deere & Company by 30.3% during the fourth quarter. AQR Capital Management LLC now owns 30,170 shares of the industrial products company’s stock worth $12,783,000 after acquiring an additional 7,019 shares in the last quarter. Schonfeld Strategic Advisors LLC raised its holdings in shares of Deere & Company by 814.3% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 26,231 shares of the industrial products company’s stock worth $11,114,000 after acquiring an additional 23,362 shares in the last quarter. Finally, Evergreen Wealth Solutions LLC bought a new position in Deere & Company during the fourth quarter valued at about $247,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. DA Davidson cut their target price on Deere & Company from $595.00 to $580.00 and set a “buy” rating on the stock in a report on Monday, August 18th. JPMorgan Chase & Co. raised their target price on Deere & Company from $490.00 to $540.00 and gave the company a “neutral” rating in a report on Friday, May 16th. Evercore ISI set a $491.00 target price on Deere & Company in a report on Tuesday, August 19th. Robert W. Baird cut their target price on Deere & Company from $520.00 to $488.00 and set a “neutral” rating on the stock in a report on Friday, August 15th. Finally, Wall Street Zen upgraded Deere & Company from a “sell” rating to a “hold” rating in a report on Sunday. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $523.87.

Deere & Company Trading Up 0.1%

Shares of DE opened at $488.59 on Wednesday. Deere & Company has a 12-month low of $374.46 and a 12-month high of $533.78. The company has a quick ratio of 1.98, a current ratio of 2.19 and a debt-to-equity ratio of 1.76. The firm has a market capitalization of $132.32 billion, a price-to-earnings ratio of 25.54, a P/E/G ratio of 3.13 and a beta of 1.06. The stock’s 50-day moving average price is $507.17 and its 200 day moving average price is $490.91.

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

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.