Soltis Investment Advisors LLC Raises Stock Position in Deere & Company $DE

Soltis Investment Advisors LLC raised its holdings in Deere & Company (NYSE:DE) by 33.5% during the 2nd quarter, Holdings Channel.com reports. The firm owned 1,191 shares of the industrial products company’s stock after acquiring an additional 299 shares during the period. Soltis Investment Advisors LLC’s holdings in Deere & Company were worth $605,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Mid American Wealth Advisory Group Inc. acquired a new stake in Deere & Company during the second quarter valued at $25,000. Activest Wealth Management lifted its position in shares of Deere & Company by 2,750.0% during the 1st quarter. Activest Wealth Management now owns 57 shares of the industrial products company’s stock valued at $27,000 after buying an additional 55 shares in the last quarter. Hughes Financial Services LLC acquired a new stake in shares of Deere & Company in the first quarter valued at about $29,000. Cornerstone Planning Group LLC raised its holdings in shares of Deere & Company by 116.1% during the first quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 36 shares during the last quarter. Finally, Marshall & Sullivan Inc. WA acquired a new stake in shares of Deere & Company in the second quarter worth approximately $38,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Jefferies Financial Group dropped their target price on Deere & Company from $510.00 to $440.00 and set a “hold” rating for the company in a report on Wednesday, October 8th. JPMorgan Chase & Co. decreased their price objective on shares of Deere & Company from $495.00 to $480.00 and set a “neutral” rating on the stock in a report on Tuesday, October 14th. Evercore ISI set a $491.00 target price on Deere & Company in a report on Tuesday, August 19th. DA Davidson reduced their price target on shares of Deere & Company from $595.00 to $580.00 and set a “buy” rating on the stock in a research report on Monday, August 18th. Finally, Citigroup cut their target price on shares of Deere & Company from $525.00 to $515.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Deere & Company currently has an average rating of “Moderate Buy” and a consensus price target of $518.72.

Deere & Company Price Performance

Shares of DE opened at $474.73 on Friday. The firm has a market capitalization of $128.33 billion, a price-to-earnings ratio of 24.82, a PEG ratio of 3.05 and a beta of 1.04. The firm’s fifty day simple moving average is $466.07 and its 200-day simple moving average is $489.91. The company has a current ratio of 2.19, a quick ratio of 1.98 and a debt-to-equity ratio of 1.76. Deere & Company has a twelve month low of $387.03 and a twelve month high of $533.78.

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

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Tuesday, September 30th will be paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 1.4%. The ex-dividend date is Tuesday, September 30th. Deere & Company’s dividend payout ratio (DPR) is currently 33.87%.

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.