Ascentis Independent Advisors Raises Holdings in Deere & Company $DE

Key Points

• Ascentis Independent Advisors increased its Deere & Company stake by 124.1% in the first quarter, ending with 3,310 shares valued at about $1.87 million.
• Deere reported better-than-expected quarterly results, with EPS of $6.55 versus $5.70 expected and revenue of $13.37 billion versus $11.55 billion forecast. Revenue rose 5.4% year over year.
• The company also announced a quarterly dividend of $1.62 per share, payable August 10, and analysts currently view the stock as a Moderate Buy with a consensus price target of $642.23.

Ascentis Independent Advisors boosted its position in Deere & Company (NYSE:DE - Free Report) by 124.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,310 shares of the industrial products company's stock after purchasing an additional 1,833 shares during the quarter. Ascentis Independent Advisors' holdings in Deere & Company were worth $1,865,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Anchyra Partners LLC boosted its holdings in shares of Deere & Company by 0.5% during the 1st quarter. Anchyra Partners LLC now owns 3,191 shares of the industrial products company's stock worth $1,797,000 after purchasing an additional 17 shares during the last quarter. William B. Walkup & Associates Inc. lifted its position in Deere & Company by 0.6% during the first quarter. William B. Walkup & Associates Inc. now owns 2,908 shares of the industrial products company's stock worth $1,638,000 after buying an additional 17 shares in the last quarter. Cerro Pacific Wealth Advisors LLC lifted its position in Deere & Company by 0.6% during the fourth quarter. Cerro Pacific Wealth Advisors LLC now owns 3,179 shares of the industrial products company's stock worth $1,480,000 after buying an additional 19 shares in the last quarter. Hazlett Burt & Watson Inc. boosted its stake in Deere & Company by 2.4% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 816 shares of the industrial products company's stock worth $379,000 after buying an additional 19 shares during the last quarter. Finally, Root Financial Partners LLC boosted its stake in Deere & Company by 2.2% during the fourth quarter. Root Financial Partners LLC now owns 880 shares of the industrial products company's stock worth $410,000 after buying an additional 19 shares during the last quarter. Institutional investors and hedge funds own 68.58% of the company's stock.

Deere & Company Stock Up 2.3%

Shares of NYSE:DE opened at $635.72 on Tuesday. The business has a 50-day moving average price of $578.41 and a 200 day moving average price of $563.22. The company has a current ratio of 2.18, a quick ratio of 1.95 and a debt-to-equity ratio of 1.54. The company has a market capitalization of $171.61 billion, a price-to-earnings ratio of 36.02, a PEG ratio of 2.30 and a beta of 0.89. Deere & Company has a 12-month low of $433.00 and a 12-month high of $674.19.

Deere & Company (NYSE:DE - Get Free Report) last issued its quarterly earnings data on Thursday, May 21st. The industrial products company reported $6.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.70 by $0.85. The firm had revenue of $13.37 billion for the quarter, compared to analyst estimates of $11.55 billion. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. Deere & Company's revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the firm earned $6.64 EPS. Sell-side analysts expect that Deere & Company will post 18.13 EPS for the current year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Tuesday, June 30th will be paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Tuesday, June 30th. Deere & Company's payout ratio is 36.71%.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $752.00 target price on shares of Deere & Company in a research note on Monday, June 1st. Wall Street Zen raised shares of Deere & Company from a "sell" rating to a "hold" rating in a research report on Sunday. Raymond James Financial dropped their price objective on shares of Deere & Company from $765.00 to $700.00 and set an "outperform" rating for the company in a report on Friday, May 22nd. Wolfe Research lifted their target price on shares of Deere & Company from $550.00 to $660.00 and gave the stock an "outperform" rating in a research note on Tuesday, March 31st. Finally, Robert W. Baird decreased their target price on shares of Deere & Company from $580.00 to $525.00 and set a "neutral" rating on the stock in a report on Friday, May 22nd. Fourteen analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, Deere & Company has a consensus rating of "Moderate Buy" and a consensus price target of $642.23.

About Deere & Company

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company's principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.

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