Deere & Company $DE Shares Bought by Provenance Wealth Advisors LLC

Provenance Wealth Advisors LLC grew its stake in shares of Deere & Company (NYSE:DE) by 96.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,683 shares of the industrial products company’s stock after purchasing an additional 828 shares during the period. Provenance Wealth Advisors LLC’s holdings in Deere & Company were worth $1,130,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Mowery & Schoenfeld Wealth Management LLC purchased a new position in Deere & Company in the 2nd quarter worth about $27,000. Kilter Group LLC acquired a new stake in Deere & Company during the 2nd quarter worth about $29,000. Solstein Capital LLC purchased a new stake in Deere & Company during the second quarter valued at about $30,000. Orion Capital Management LLC purchased a new stake in Deere & Company during the second quarter valued at about $32,000. Finally, Downshift Financial LLC lifted its stake in Deere & Company by 218.8% during the third quarter. Downshift Financial LLC now owns 51 shares of the industrial products company’s stock valued at $34,000 after buying an additional 35 shares in the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting Deere & Company

Here are the key news stories impacting Deere & Company this week:

• Positive Sentiment: Deere has called back laid-off Iowa employees and plans to hire additional workers ahead of contract talks with the UAW. The staffing expansion could signal greater production needs, although labor negotiations remain a potential source of uncertainty. Article: John Deere Calls Laid-Off Iowa Workers Back to Jobs
• Positive Sentiment: Deere appointed former EY U.S. CEO Julie Boland to its board and its compensation and finance committees, adding an experienced corporate leader. Article: Deere appoints Julie Boland to its board
• Neutral Sentiment: Deere’s new AI assistant for farmers is a product-development initiative that could help customers use field data, though the report provides no financial outlook or expected commercial impact. Article: John Deere built an AI assistant
• Negative Sentiment: Deere plans to close two Iowa plants and consolidate operations, including moving small-planter production from Seeding Works and shifting some functions to Ankeny. The restructuring could improve efficiency, but closures and workforce disruption create execution and labor-relations risks. Article: Deere to close two Iowa plants
• Negative Sentiment: Former Deere employees have advanced a lawsuit seeking severance benefits, creating a potential legal and financial liability; the article does not specify the amount at stake. Article: Ex-Deere employees advance severance lawsuit

Wall Street Analyst Weigh In

DE has been the subject of several recent analyst reports. Oppenheimer raised their target price on shares of Deere & Company from $680.00 to $685.00 and gave the stock an “outperform” rating in a report on Thursday, August 20th. Truist Financial cut their price target on shares of Deere & Company from $812.00 to $804.00 and set a “buy” rating on the stock in a report on Monday, August 24th. Robert W. Baird upgraded shares of Deere & Company from a “neutral” rating to an “outperform” rating and upped their price target for the company from $640.00 to $800.00 in a research report on Monday, August 31st. Barclays upped their price target on shares of Deere & Company from $640.00 to $675.00 and gave the company an “overweight” rating in a research report on Monday, August 24th. Finally, Raymond James Financial raised their price objective on shares of Deere & Company from $700.00 to $730.00 and gave the stock an “outperform” rating in a research note on Monday, August 31st. Seventeen analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $688.10.

Deere & Company Price Performance

Shares of DE opened at $676.09 on Thursday. The company has a market capitalization of $182.29 billion, a price-to-earnings ratio of 37.56, a P/E/G ratio of 1.89 and a beta of 0.89. Deere & Company has a fifty-two week low of $455.90 and a fifty-two week high of $721.22. The company has a debt-to-equity ratio of 1.45, a current ratio of 2.10 and a quick ratio of 1.89. The business’s 50-day moving average is $665.41 and its 200-day moving average is $606.57.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, August 20th. The industrial products company reported $5.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.69 by $0.41. The business had revenue of $12.61 billion during the quarter, compared to analyst estimates of $10.81 billion. Deere & Company had a net margin of 10.16% and a return on equity of 18.10%. The firm’s revenue was up 6.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.75 earnings per share. Equities research analysts expect that Deere & Company will post 18.11 EPS for the current fiscal year.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 9th. Shareholders of record on Wednesday, September 30th will be paid a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 1.0%. The ex-dividend date is Wednesday, September 30th. Deere & Company’s dividend payout ratio is currently 36.00%.

About Deere & Company

Deere & Company, founded by blacksmith John Deere in 1837, is a global manufacturer of agricultural, construction, forestry and turf-care equipment. The company is headquartered in Moline, Illinois, and operates under the John Deere brand.

Its products include tractors, combines, planters, sprayers, harvesting equipment, loaders, excavators, motor graders, forestry machines, mowers and compact utility equipment. Deere also provides replacement parts, equipment support, financing and technology-enabled solutions designed to improve machine productivity, automation and precision in farming and other industries.

Deere serves customers through dealerships and operations across North America, Latin America, Europe and other international markets.