Arete Wealth Advisors LLC Raises Position in Deere & Company $DE

Key Points

• Arete Wealth Advisors LLC increased its stake in Deere & Company by 70.3% in the first quarter, holding 4,095 shares valued at approximately $1.92 million.
• Deere's quarterly earnings exceeded expectations, reporting $4.75 EPS against a consensus of $4.62, despite a 9% decline in revenue year-over-year.
• The firm declared a quarterly dividend of $1.62 per share, with a dividend yield of 1.3%, set to be paid on November 10th.

Arete Wealth Advisors LLC grew its position in Deere & Company (NYSE:DE - Free Report) by 70.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,095 shares of the industrial products company's stock after acquiring an additional 1,691 shares during the period. Arete Wealth Advisors LLC's holdings in Deere & Company were worth $1,922,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Deere & Company by 0.8% in the first quarter. Vanguard Group Inc. now owns 22,063,590 shares of the industrial products company's stock valued at $10,355,546,000 after acquiring an additional 185,671 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Deere & Company by 4.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,876,013 shares of the industrial products company's stock worth $3,227,258,000 after buying an additional 286,253 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Deere & Company by 2.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,780,742 shares of the industrial products company's stock worth $754,500,000 after buying an additional 48,941 shares during the period. GAMMA Investing LLC increased its holdings in Deere & Company by 61,215.9% in the first quarter. GAMMA Investing LLC now owns 1,753,022 shares of the industrial products company's stock valued at $822,781,000 after buying an additional 1,750,163 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Deere & Company by 1.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,549,048 shares of the industrial products company's stock valued at $727,046,000 after buying an additional 25,725 shares in the last quarter. Hedge funds and other institutional investors own 68.58% of the company's stock.

Deere & Company Stock Up 1.7%

Shares of NYSE DE opened at $481.11 on Tuesday. Deere & Company has a 12-month low of $378.66 and a 12-month high of $533.78. The company has a market capitalization of $130.06 billion, a PE ratio of 25.15, a price-to-earnings-growth ratio of 3.04 and a beta of 1.00. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.19 and a quick ratio of 1.98. The firm's 50-day moving average is $500.77 and its two-hundred day moving average is $490.65.

Deere & Company (NYSE:DE - Get Free Report) last announced its quarterly earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.62 by $0.13. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The company had revenue of $10.36 billion for the quarter, compared to the consensus estimate of $10.33 billion. During the same quarter in the prior year, the firm earned $6.29 earnings per share. The company's revenue for the quarter was down 9.0% compared to the same quarter last year. Equities analysts anticipate that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Tuesday, September 30th will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Tuesday, September 30th. Deere & Company's dividend payout ratio is 33.87%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Citigroup lowered their price target on Deere & Company from $550.00 to $525.00 and set a "neutral" rating on the stock in a report on Friday, May 30th. Oppenheimer lifted their price objective on Deere & Company from $560.00 to $566.00 and gave the stock an "outperform" rating in a report on Friday, August 15th. Truist Financial reduced their price objective on Deere & Company from $619.00 to $602.00 and set a "buy" rating for the company in a report on Friday, August 15th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Deere & Company in a report on Thursday, May 15th. Finally, Robert W. Baird reduced their price objective on Deere & Company from $520.00 to $488.00 and set a "neutral" rating for the company in a report on Friday, August 15th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $520.87.

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.

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