Farther Finance Advisors LLC Increases Holdings in Deere & Company (NYSE:DE)

Farther Finance Advisors LLC boosted its stake in Deere & Company (NYSE:DE - Free Report) by 27.4% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,220 shares of the industrial products company's stock after purchasing an additional 692 shares during the quarter. Farther Finance Advisors LLC's holdings in Deere & Company were worth $1,541,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Banque Pictet & Cie SA grew its position in Deere & Company by 2.0% in the fourth quarter. Banque Pictet & Cie SA now owns 78,274 shares of the industrial products company's stock valued at $33,165,000 after acquiring an additional 1,500 shares during the last quarter. Spectrum Financial Alliance Ltd LLC grew its position in Deere & Company by 2.9% in the fourth quarter. Spectrum Financial Alliance Ltd LLC now owns 49,613 shares of the industrial products company's stock valued at $21,021,000 after acquiring an additional 1,407 shares during the last quarter. Generali Investments CEE investicni spolecnost a.s. bought a new position in Deere & Company in the fourth quarter valued at about $847,000. BankPlus Trust Department bought a new stake in shares of Deere & Company during the fourth quarter worth about $1,127,000. Finally, Stenger Family Office LLC bought a new stake in shares of Deere & Company during the fourth quarter worth about $3,144,000. Institutional investors and hedge funds own 68.58% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Melius Research raised Deere & Company from a "hold" rating to a "strong-buy" rating in a research note on Friday, June 6th. Bank of America boosted their price target on Deere & Company from $495.00 to $556.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Truist Financial boosted their price target on Deere & Company from $546.00 to $619.00 and gave the company a "buy" rating in a research note on Friday, May 16th. BMO Capital Markets reissued a "market perform" rating and issued a $460.00 price target (up from $425.00) on shares of Deere & Company in a research note on Wednesday, May 21st. Finally, Evercore ISI boosted their price target on Deere & Company from $455.00 to $493.00 and gave the company an "in-line" rating in a research note on Monday, May 19th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $515.19.

Deere & Company Stock Down 1.5%

NYSE DE traded down $7.82 on Friday, reaching $509.04. The company had a trading volume of 824,497 shares, compared to its average volume of 1,393,748. The stock has a market capitalization of $137.86 billion, a P/E ratio of 22.56, a P/E/G ratio of 2.14 and a beta of 1.09. The company's fifty day moving average is $487.24 and its 200 day moving average is $468.53. Deere & Company has a 52-week low of $340.20 and a 52-week high of $533.78. The company has a quick ratio of 1.98, a current ratio of 2.22 and a debt-to-equity ratio of 1.94.

Deere & Company (NYSE:DE - Get Free Report) last released its quarterly earnings results on Thursday, May 15th. The industrial products company reported $6.64 EPS for the quarter, beating analysts' consensus estimates of $5.72 by $0.92. The business had revenue of $11.17 billion during the quarter, compared to analyst estimates of $10.80 billion. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. Deere & Company's quarterly revenue was down 17.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $8.53 EPS. Sell-side analysts anticipate that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Monday, June 30th will be given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 1.27%. The ex-dividend date of this dividend is Monday, June 30th. Deere & Company's dividend payout ratio is presently 31.35%.

About Deere & Company

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.