Elevation Point Wealth Partners LLC Increases Stock Holdings in Deere & Company $DE

Key Points

• Elevation Point Wealth Partners increased its Deere & Company stake by 173.8% in the first quarter, bringing its holdings to 5,336 shares valued at about $3.01 million.
• Deere recently reported strong quarterly results, with earnings of $6.55 per share and revenue of $13.37 billion, both ahead of analyst expectations.
• Analysts remain mostly constructive on the stock, with a consensus rating of Moderate Buy and an average price target of $642.23; Deere also announced a quarterly dividend of $1.62 per share.

Elevation Point Wealth Partners LLC boosted its holdings in shares of Deere & Company (NYSE:DE - Free Report) by 173.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,336 shares of the industrial products company's stock after buying an additional 3,387 shares during the period. Elevation Point Wealth Partners LLC's holdings in Deere & Company were worth $3,010,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Anchyra Partners LLC increased its holdings in shares of Deere & Company by 0.5% during the first quarter. Anchyra Partners LLC now owns 3,191 shares of the industrial products company's stock valued at $1,797,000 after acquiring an additional 17 shares in the last quarter. William B. Walkup & Associates Inc. boosted its stake in Deere & Company by 0.6% in the 1st quarter. William B. Walkup & Associates Inc. now owns 2,908 shares of the industrial products company's stock worth $1,638,000 after purchasing an additional 17 shares in the last quarter. Cerro Pacific Wealth Advisors LLC grew its position in Deere & Company by 0.6% during the 4th quarter. Cerro Pacific Wealth Advisors LLC now owns 3,179 shares of the industrial products company's stock worth $1,480,000 after purchasing an additional 19 shares during the last quarter. Hazlett Burt & Watson Inc. grew its position in Deere & Company by 2.4% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 816 shares of the industrial products company's stock worth $379,000 after purchasing an additional 19 shares during the last quarter. Finally, Root Financial Partners LLC grew its position in Deere & Company by 2.2% during the 4th quarter. Root Financial Partners LLC now owns 880 shares of the industrial products company's stock worth $410,000 after purchasing an additional 19 shares during the last quarter. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on DE. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $752.00 price target on shares of Deere & Company in a report on Monday, June 1st. Citigroup dropped their price objective on shares of Deere & Company from $625.00 to $595.00 and set a "neutral" rating on the stock in a report on Friday, May 22nd. Oppenheimer reissued an "outperform" rating and issued a $680.00 target price (down from $715.00) on shares of Deere & Company in a research report on Wednesday, May 27th. Barclays lifted their price target on Deere & Company from $530.00 to $640.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 31st. Finally, JPMorgan Chase & Co. boosted their price target on Deere & Company from $560.00 to $590.00 and gave the company a "neutral" rating in a research note on Thursday, June 4th. Fourteen research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, Deere & Company presently has an average rating of "Moderate Buy" and a consensus price target of $642.23.

Deere & Company Stock Performance

Shares of NYSE DE opened at $621.09 on Friday. 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 has a 12 month low of $433.00 and a 12 month high of $674.19. The company has a 50 day simple moving average of $578.41 and a two-hundred day simple moving average of $562.69. The stock has a market cap of $167.66 billion, a price-to-earnings ratio of 35.19, a PEG ratio of 2.30 and a beta of 0.89.

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

Deere & Company Dividend Announcement

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

Deere & Company 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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