Cetera Investment Advisers Grows Holdings in Deere & Company $DE

Key Points

• Cetera Investment Advisers increased its Deere & Company stake by 2.7% in the first quarter, bringing its holdings to 149,219 shares worth about $84.1 million.
• Deere reported stronger-than-expected quarterly results, posting EPS of $6.55 versus estimates of $5.70 and revenue of $13.37 billion versus expectations of $11.55 billion.
• Analysts remain broadly positive on DE, with 14 Buy ratings, 9 Hold ratings, and a consensus price target of $642.98, while Deere also announced a quarterly dividend of $1.62 per share.

Cetera Investment Advisers lifted its position in shares of Deere & Company (NYSE:DE - Free Report) by 2.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 149,219 shares of the industrial products company's stock after acquiring an additional 3,855 shares during the quarter. Cetera Investment Advisers owned 0.06% of Deere & Company worth $84,055,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Key Capital Management INC purchased a new position in Deere & Company during the fourth quarter worth approximately $27,000. Timmons Wealth Management LLC acquired a new position in shares of Deere & Company during the fourth quarter worth $29,000. McIlrath & Eck LLC acquired a new stake in shares of Deere & Company during the 4th quarter worth about $30,000. Portus Wealth Advisors LLC acquired a new stake in Deere & Company during the first quarter worth approximately $32,000. Finally, Wealth Watch Advisors INC acquired a new stake in Deere & Company during the 3rd quarter worth $32,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Price Performance

Shares of DE stock opened at $610.38 on Friday. The firm has a fifty day simple moving average of $583.73 and a 200-day simple moving average of $575.72. The company has a market capitalization of $164.77 billion, a PE ratio of 34.58, a price-to-earnings-growth ratio of 2.56 and a beta of 0.89. Deere & Company has a twelve month low of $433.00 and a twelve month high of $674.19. The company has a current ratio of 2.18, a quick ratio of 1.95 and a debt-to-equity ratio of 1.54.

Deere & Company (NYSE:DE - Get Free Report) last issued its quarterly earnings data on Thursday, May 21st. The industrial products company reported $6.55 EPS for the quarter, topping analysts' consensus estimates 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%. The firm's revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $6.64 EPS. Equities research analysts anticipate that Deere & Company will post 18.27 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Tuesday, June 30th will be given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Tuesday, June 30th. Deere & Company's dividend payout ratio is presently 36.71%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on DE shares. Truist Financial boosted their target price on Deere & Company from $759.00 to $812.00 and gave the company a "buy" rating in a report on Thursday, July 2nd. Oppenheimer reiterated an "outperform" rating and set a $680.00 target price (down from $715.00) on shares of Deere & Company in a report on Wednesday, May 27th. Weiss Ratings upgraded Deere & Company from a "hold (c)" rating to a "hold (c+)" rating in a report on Thursday, May 21st. Bank of America lowered their price target on Deere & Company from $672.00 to $607.50 and set a "neutral" rating for the company in a research report on Friday, May 22nd. Finally, Jefferies Financial Group upgraded shares of Deere & Company from an "underperform" rating to a "hold" rating and set a $550.00 price target on the stock in a report on Wednesday, April 8th. Fourteen analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. According to MarketBeat.com, Deere & Company currently has a consensus rating of "Moderate Buy" and an average price target of $642.98.

Deere & Company Profile

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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