Envestnet Portfolio Solutions Inc. Increases Stake in Deere & Company $DE

Key Points

• Envestnet Portfolio Solutions Inc. increased its stake in Deere & Company by 25.5%, owning a total of 4,624 shares valued at $2.35 million by the end of the second quarter.
• Deere & Company reported earnings of $4.75 per share for the most recent quarter, beating estimates and showing a 9% decline in revenue year-over-year.
• A quarterly dividend of $1.62 will be paid to shareholders on November 10th, with an annualized yield of 1.4%.

Envestnet Portfolio Solutions Inc. lifted its holdings in Deere & Company (NYSE:DE - Free Report) by 25.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,624 shares of the industrial products company's stock after purchasing an additional 941 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Deere & Company were worth $2,351,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of Deere & Company by 0.8% in the first quarter. Vanguard Group Inc. now owns 22,063,590 shares of the industrial products company's stock valued at $10,355,546,000 after purchasing an additional 185,671 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Deere & Company by 4.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,876,013 shares of the industrial products company's stock valued at $3,227,258,000 after purchasing an additional 286,253 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Deere & Company by 2.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,815,817 shares of the industrial products company's stock valued at $852,254,000 after purchasing an additional 35,075 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Deere & Company by 1.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,549,048 shares of the industrial products company's stock valued at $727,046,000 after purchasing an additional 25,725 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in shares of Deere & Company by 23.4% in the first quarter. Invesco Ltd. now owns 1,353,255 shares of the industrial products company's stock valued at $635,150,000 after purchasing an additional 256,806 shares in the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Stock Performance

Shares of Deere & Company stock opened at $456.98 on Friday. The firm has a market cap of $123.54 billion, a P/E ratio of 23.89, a P/E/G ratio of 2.88 and a beta of 1.02. The company has a current ratio of 2.19, a quick ratio of 1.98 and a debt-to-equity ratio of 1.76. Deere & Company has a 12 month low of $387.03 and a 12 month high of $533.78. The stock's fifty day moving average price is $474.28 and its 200-day moving average price is $487.62.

Deere & Company (NYSE:DE - Get Free Report) last posted its earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.62 by $0.13. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The company had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.33 billion. During the same quarter in the previous year, the firm earned $6.29 earnings per share. The firm's quarterly revenue was down 9.0% compared to the same quarter last year. On average, equities research analysts expect that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Tuesday, September 30th will be paid a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 1.4%. The ex-dividend date is Tuesday, September 30th. Deere & Company's payout ratio is 33.87%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on DE shares. JPMorgan Chase & Co. cut their target price on shares of Deere & Company from $495.00 to $480.00 and set a "neutral" rating for the company in a report on Tuesday. Wall Street Zen upgraded Deere & Company from a "sell" rating to a "hold" rating in a research report on Saturday, October 4th. Robert W. Baird lowered their price target on Deere & Company from $488.00 to $467.00 and set a "neutral" rating for the company in a research report on Monday. Citigroup lowered their price target on Deere & Company from $525.00 to $515.00 and set a "neutral" rating for the company in a research report on Tuesday, October 7th. Finally, Daiwa Capital Markets lowered their price target on Deere & Company from $565.00 to $530.00 and set an "outperform" rating for the company in a research report on Thursday, September 25th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $511.76.

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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