EverSource Wealth Advisors LLC Increases Stake in Deere & Company (NYSE:DE)

Key Points

• EverSource Wealth Advisors LLC increased its stake in Deere & Company by 6.8% during the 1st quarter, owning 8,310 shares valued at approximately $3.9 million by the end of the reporting period.
• Deere & Company reported earnings of $4.75 per share for the recent quarter, surpassing analysts' estimates of $4.62, but also experienced a 9% decrease in year-over-year revenue.
• The company recently announced a quarterly dividend of $1.62 per share, reflecting an annualized dividend yield of 1.3% and a payout ratio of 31.35%.

EverSource Wealth Advisors LLC grew its position in Deere & Company (NYSE:DE - Free Report) by 6.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,310 shares of the industrial products company's stock after acquiring an additional 528 shares during the quarter. EverSource Wealth Advisors LLC's holdings in Deere & Company were worth $3,900,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC increased its stake in Deere & Company by 61,215.9% in the 1st quarter. GAMMA Investing LLC now owns 1,753,022 shares of the industrial products company's stock worth $822,781,000 after buying an additional 1,750,163 shares during the period. Castlekeep Investment Advisors LLC purchased a new position in Deere & Company in the 4th quarter worth about $541,437,000. Nuveen LLC bought a new position in Deere & Company during the 1st quarter worth about $571,073,000. Price T Rowe Associates Inc. MD grew its holdings in Deere & Company by 19.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,589,760 shares of the industrial products company's stock worth $2,792,082,000 after acquiring an additional 1,095,736 shares in the last quarter. Finally, Leigh Baldwin & CO. LLC bought a new position in Deere & Company during the 4th quarter worth about $255,686,000. Hedge funds and other institutional investors own 68.58% of the company's stock.

Deere & Company Stock Performance

Shares of DE stock opened at $480.02 on Friday. The business has a fifty day moving average of $511.80 and a 200 day moving average of $489.83. Deere & Company has a 1 year low of $357.90 and a 1 year high of $533.78. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.11 and a quick ratio of 1.89. The firm has a market capitalization of $130.00 billion, a price-to-earnings ratio of 23.22, a price-to-earnings-growth ratio of 3.26 and a beta of 1.06.

Deere & Company (NYSE:DE - Get Free Report) last announced its quarterly earnings data on Thursday, August 14th. The industrial products company reported $4.75 earnings per share for the quarter, beating analysts' consensus estimates of $4.62 by $0.13. Deere & Company had a return on equity of 24.39% and a net margin of 12.40%. The business had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.33 billion. During the same period in the prior year, the company earned $6.29 earnings per share. The company's revenue was down 9.0% on a year-over-year basis. As a group, research analysts expect that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 8th. Shareholders of record on Monday, June 30th were paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 1.3%. The ex-dividend date was Monday, June 30th. Deere & Company's payout ratio is presently 31.35%.

Analyst Ratings Changes

DE has been the topic of several recent research reports. Melius upgraded shares of Deere & Company from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Citigroup dropped their target price on shares of Deere & Company from $550.00 to $525.00 and set a "neutral" rating on the stock in a report on Friday, May 30th. The Goldman Sachs Group reiterated a "buy" rating on shares of Deere & Company in a report on Thursday, May 15th. BMO Capital Markets reiterated a "market perform" rating and set a $460.00 target price (up from $425.00) on shares of Deere & Company in a report on Wednesday, May 21st. Finally, DA Davidson reiterated a "buy" rating and set a $542.00 target price on shares of Deere & Company in a report on Friday, May 16th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $523.93.

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.

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