Envestnet Asset Management Inc. Has $185.69 Million Position in Deere & Company (NYSE:DE)

Envestnet Asset Management Inc. lifted its position in shares of Deere & Company (NYSE:DE - Free Report) by 52.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 395,624 shares of the industrial products company's stock after buying an additional 136,224 shares during the period. Envestnet Asset Management Inc. owned about 0.15% of Deere & Company worth $185,686,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of DE. Brighton Jones LLC boosted its position in shares of Deere & Company by 39.1% during the fourth quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company's stock worth $1,927,000 after buying an additional 1,278 shares during the period. Proficio Capital Partners LLC boosted its position in Deere & Company by 23.4% during the fourth quarter. Proficio Capital Partners LLC now owns 1,253 shares of the industrial products company's stock valued at $531,000 after purchasing an additional 238 shares during the last quarter. Midland Wealth Advisors LLC boosted its position in Deere & Company by 4.9% during the fourth quarter. Midland Wealth Advisors LLC now owns 603 shares of the industrial products company's stock valued at $256,000 after purchasing an additional 28 shares during the last quarter. Daiwa Securities Group Inc. boosted its position in Deere & Company by 0.8% during the fourth quarter. Daiwa Securities Group Inc. now owns 44,623 shares of the industrial products company's stock valued at $18,907,000 after purchasing an additional 368 shares during the last quarter. Finally, Independent Advisor Alliance boosted its position in Deere & Company by 18.5% during the fourth quarter. Independent Advisor Alliance now owns 10,129 shares of the industrial products company's stock valued at $4,292,000 after purchasing an additional 1,582 shares during the last quarter. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Price Performance

Shares of NYSE DE opened at $508.88 on Wednesday. The firm has a market cap of $137.82 billion, a P/E ratio of 24.62, a price-to-earnings-growth ratio of 3.24 and a beta of 1.08. 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 has a 1-year low of $340.20 and a 1-year high of $533.78. The business's 50 day moving average is $508.42 and its 200-day moving average is $476.69.

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

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Monday, June 30th will be paid a dividend of $1.62 per share. The ex-dividend date is Monday, June 30th. This represents a $6.48 dividend on an annualized basis and a yield of 1.27%. Deere & Company's dividend payout ratio (DPR) is presently 31.35%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Melius raised Deere & Company from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Truist Financial increased their price target on Deere & Company from $546.00 to $619.00 and gave the company a "buy" rating in a research report on Friday, May 16th. JPMorgan Chase & Co. increased their price target on Deere & Company from $490.00 to $540.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. BMO Capital Markets reissued a "market perform" rating and set a $460.00 price target (up from $425.00) on shares of Deere & Company in a research report on Wednesday, May 21st. Finally, Robert W. Baird increased their price target on Deere & Company from $501.00 to $514.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $515.19.

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.

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