Cerro Pacific Wealth Advisors LLC Increases Stock Holdings in Deere & Company $DE

Cerro Pacific Wealth Advisors LLC grew its stake in Deere & Company (NYSE:DE) by 3.4% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 3,962 shares of the industrial products company’s stock after buying an additional 132 shares during the quarter. Cerro Pacific Wealth Advisors LLC’s holdings in Deere & Company were worth $2,015,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in DE. Brighton Jones LLC boosted its stake in shares of Deere & Company by 39.1% in the 4th quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company’s stock valued at $1,927,000 after buying an additional 1,278 shares during the period. GAMMA Investing LLC boosted its stake in shares of Deere & Company by 30.6% in the 1st quarter. GAMMA Investing LLC now owns 3,735 shares of the industrial products company’s stock valued at $1,753,000 after buying an additional 876 shares during the period. SG Americas Securities LLC boosted its stake in shares of Deere & Company by 42.3% in the 1st quarter. SG Americas Securities LLC now owns 5,836 shares of the industrial products company’s stock valued at $2,739,000 after buying an additional 1,735 shares during the period. Assenagon Asset Management S.A. boosted its stake in shares of Deere & Company by 58.9% in the 1st quarter. Assenagon Asset Management S.A. now owns 13,625 shares of the industrial products company’s stock valued at $6,395,000 after buying an additional 5,053 shares during the period. Finally, Simon Quick Advisors LLC boosted its stake in shares of Deere & Company by 11.5% in the 1st quarter. Simon Quick Advisors LLC now owns 1,191 shares of the industrial products company’s stock valued at $559,000 after buying an additional 123 shares during the period. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on DE shares. Robert W. Baird decreased their price objective on Deere & Company from $520.00 to $488.00 and set a “neutral” rating for the company in a research note on Friday, August 15th. Oppenheimer cut their target price on Deere & Company from $566.00 to $512.00 and set an “outperform” rating on the stock in a research report on Thursday, September 18th. Truist Financial raised their target price on Deere & Company from $602.00 to $609.00 and gave the stock a “buy” rating in a research report on Wednesday. Daiwa Capital Markets cut their target price on Deere & Company from $565.00 to $530.00 and set an “outperform” rating on the stock in a research report on Thursday, September 25th. Finally, 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 research report on Monday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $513.88.

Deere & Company Trading Down 2.1%

DE opened at $446.76 on Friday. The firm has a market cap of $120.77 billion, a price-to-earnings ratio of 23.35, a price-to-earnings-growth ratio of 2.87 and a beta of 1.02. Deere & Company has a 52 week low of $387.03 and a 52 week high of $533.78. The business’s 50 day moving average is $479.15 and its two-hundred day moving average is $488.39. The company has a quick ratio of 1.98, a current ratio of 2.19 and a debt-to-equity ratio of 1.76.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, August 14th. The industrial products company reported $4.75 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 analyst estimates of $10.33 billion. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The firm’s revenue was down 9.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $6.29 earnings per share. On average, research analysts predict that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Tuesday, September 30th will be given a dividend of $1.62 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.48 annualized dividend and a yield of 1.5%. Deere & Company’s payout ratio is 33.87%.

About Deere & Company

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.