Waverly Advisors LLC Boosts Holdings in Deere & Company $DE

Waverly Advisors LLC boosted its holdings in shares of Deere & Company (NYSE:DE) by 8.7% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 35,614 shares of the industrial products company’s stock after buying an additional 2,852 shares during the quarter. Waverly Advisors LLC’s holdings in Deere & Company were worth $22,591,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Brighton Jones LLC increased its holdings in Deere & Company by 39.1% in the 4th 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. Schnieders Capital Management LLC. increased its stake in Deere & Company by 7.8% in the 2nd quarter. Schnieders Capital Management LLC. now owns 2,076 shares of the industrial products company’s stock worth $1,056,000 after acquiring an additional 150 shares during the last quarter. Jump Financial LLC purchased a new stake in Deere & Company during the second quarter valued at $2,153,000. NewEdge Advisors LLC grew its stake in shares of Deere & Company by 6.0% in the 2nd quarter. NewEdge Advisors LLC now owns 18,758 shares of the industrial products company’s stock worth $9,538,000 after buying an additional 1,067 shares in the last quarter. Finally, Main Street Financial Solutions LLC increased its holdings in shares of Deere & Company by 6.7% in the 2nd quarter. Main Street Financial Solutions LLC now owns 1,551 shares of the industrial products company’s stock worth $789,000 after buying an additional 97 shares during the last quarter. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on DE shares. Robert W. Baird upgraded Deere & Company from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $640.00 to $800.00 in a research report on Monday, August 31st. Barclays lifted their price objective on shares of Deere & Company from $640.00 to $675.00 and gave the company an “overweight” rating in a report on Monday, August 24th. DA Davidson upped their target price on Deere & Company from $685.00 to $760.00 and gave the stock a “buy” rating in a report on Monday, August 24th. Raymond James Financial boosted their price target on shares of Deere & Company from $700.00 to $730.00 and gave the company an “outperform” rating in a report on Monday, August 31st. Finally, Seaport Research Partners set a $570.00 price target on shares of Deere & Company in a research report on Friday, August 14th. Sixteen research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $680.73.

Deere & Company Stock Performance

Shares of DE stock opened at $680.72 on Wednesday. The business’s fifty day simple moving average is $621.37 and its 200-day simple moving average is $597.52. Deere & Company has a 12-month low of $433.00 and a 12-month high of $705.88. The company has a market cap of $183.54 billion, a PE ratio of 37.82, a PEG ratio of 2.86 and a beta of 0.90. The company has a current ratio of 2.10, a quick ratio of 1.89 and a debt-to-equity ratio of 1.45.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, August 20th. The industrial products company reported $5.10 EPS for the quarter, beating analysts’ consensus estimates of $4.69 by $0.41. The company had revenue of $12.61 billion during the quarter, compared to analysts’ expectations of $10.81 billion. Deere & Company had a return on equity of 18.10% and a net margin of 10.16%.The firm’s revenue was up 6.2% compared to the same quarter last year. During the same period last year, the business posted $4.75 earnings per share. Analysts expect that Deere & Company will post 18.12 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 9th. Investors of record on Wednesday, September 30th will be paid a $1.62 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $6.48 dividend on an annualized basis and a yield of 1.0%. Deere & Company’s dividend payout ratio (DPR) is 36.00%.

Deere & Company Company Profile

Deere & Company, operating under the John Deere brand, is a global manufacturer of agricultural, construction, forestry and turf-care equipment. Its products include tractors, combines, harvesters, planters, sprayers, loaders, excavators, skid steers, forestry machines, commercial mowing equipment and compact utility tractors. The company also develops precision agriculture and construction technologies, including machine guidance, automation, data-management and connected-equipment solutions.

Founded by blacksmith John Deere in 1837, the company has grown from its original steel plow business into a diversified equipment and technology provider.