Deere & Company (NYSE:DE) Stock Position Decreased by Elevate Capital Advisors LLC

Elevate Capital Advisors LLC lessened its position in shares of Deere & Company (NYSE:DE - Free Report) by 22.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,162 shares of the industrial products company's stock after selling 937 shares during the period. Elevate Capital Advisors LLC's holdings in Deere & Company were worth $1,484,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Astoria Portfolio Advisors LLC. increased its position in shares of Deere & Company by 77.9% in the first quarter. Astoria Portfolio Advisors LLC. now owns 948 shares of the industrial products company's stock worth $433,000 after acquiring an additional 415 shares in the last quarter. Mather Group LLC. boosted its holdings in Deere & Company by 27.9% in the 1st quarter. Mather Group LLC. now owns 1,733 shares of the industrial products company's stock worth $814,000 after acquiring an additional 378 shares during the period. Alta Advisers Ltd boosted its holdings in Deere & Company by 59.4% in the 1st quarter. Alta Advisers Ltd now owns 1,342 shares of the industrial products company's stock worth $630,000 after acquiring an additional 500 shares during the period. Hixon Zuercher LLC grew its position in Deere & Company by 1.3% in the first quarter. Hixon Zuercher LLC now owns 3,779 shares of the industrial products company's stock valued at $1,774,000 after acquiring an additional 49 shares in the last quarter. Finally, Smallwood Wealth Investment Management LLC purchased a new stake in shares of Deere & Company during the first quarter valued at approximately $47,000. Hedge funds and other institutional investors own 68.58% of the company's stock.

Deere & Company Stock Performance

NYSE DE traded up $11.97 during trading hours on Wednesday, reaching $520.33. The company's stock had a trading volume of 1,096,809 shares, compared to its average volume of 1,357,245. The stock has a market cap of $140.92 billion, a PE ratio of 25.17, a PEG ratio of 3.23 and a beta of 1.08. The business has a 50-day simple moving average of $502.95 and a 200 day simple moving average of $473.86. Deere & Company has a 52 week low of $340.20 and a 52 week high of $533.78. The company has a current ratio of 2.11, a quick ratio of 1.89 and a debt-to-equity ratio of 1.76.

Deere & Company (NYSE:DE - Get Free Report) last announced its quarterly earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.72 by $0.92. Deere & Company had a return on equity of 24.39% and a net margin of 12.40%. The company had revenue of $11.17 billion during the quarter, compared to analyst estimates of $10.80 billion. During the same quarter in the previous year, the firm posted $8.53 EPS. The firm's quarterly revenue was down 17.9% on a year-over-year basis. Equities research analysts predict that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Monday, June 30th will be paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date is Monday, June 30th. Deere & Company's dividend payout ratio is presently 31.35%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on DE. JPMorgan Chase & Co. upped their target price on shares of Deere & Company from $490.00 to $540.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Raymond James Financial lifted their price objective on Deere & Company from $530.00 to $560.00 and gave the stock an "outperform" rating in a report on Friday, May 16th. Truist Financial increased their target price on Deere & Company from $546.00 to $619.00 and gave the company a "buy" rating in a research note on Friday, May 16th. Robert W. Baird raised their price target on shares of Deere & Company from $501.00 to $514.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. Finally, Melius Research upgraded shares of Deere & Company from a "hold" rating to a "strong-buy" rating in a research note on Friday, June 6th. One 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 company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $515.19.

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.