Farther Finance Advisors LLC Has $2.45 Million Stock Holdings in Deere & Company $DE

Key Points

• Farther Finance Advisors LLC increased its holdings in Deere & Company by 49.8%, bringing the total value of its stake to approximately $2.45 million.
• Deere & Company recently declared a quarterly dividend of $1.62 per share, representing a 1.4% dividend yield with a payout ratio of 33.87%.
• The company's stock is currently trading at $469.99, with earnings per share for the last quarter reported at $4.75, exceeding analysts' expectations.

Farther Finance Advisors LLC lifted its holdings in shares of Deere & Company (NYSE:DE - Free Report) by 49.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,822 shares of the industrial products company's stock after purchasing an additional 1,602 shares during the period. Farther Finance Advisors LLC's holdings in Deere & Company were worth $2,452,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Chicago Partners Investment Group LLC increased its position in shares of Deere & Company by 1.2% during the first quarter. Chicago Partners Investment Group LLC now owns 1,803 shares of the industrial products company's stock valued at $852,000 after acquiring an additional 21 shares during the last quarter. Tyler Stone Wealth Management boosted its holdings in shares of Deere & Company by 1.7% in the first quarter. Tyler Stone Wealth Management now owns 1,230 shares of the industrial products company's stock worth $577,000 after acquiring an additional 21 shares during the period. McLean Asset Management Corp boosted its stake in Deere & Company by 4.0% during the second quarter. McLean Asset Management Corp now owns 544 shares of the industrial products company's stock valued at $283,000 after buying an additional 21 shares during the period. Sunbelt Securities Inc. boosted its stake in Deere & Company by 2.4% during the first quarter. Sunbelt Securities Inc. now owns 925 shares of the industrial products company's stock valued at $434,000 after buying an additional 22 shares during the period. Finally, Hayek Kallen Investment Management boosted its stake in Deere & Company by 1.7% during the first quarter. Hayek Kallen Investment Management now owns 1,299 shares of the industrial products company's stock valued at $610,000 after buying an additional 22 shares during the period. Institutional investors own 68.58% of the company's stock.

Deere & Company Stock Down 1.3%

DE stock opened at $469.99 on Monday. Deere & Company has a one year low of $387.03 and a one year high of $533.78. The stock has a market capitalization of $127.05 billion, a PE ratio of 24.57, a price-to-earnings-growth ratio of 3.02 and a beta of 1.00. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.98 and a current ratio of 2.19. The company has a fifty day moving average of $493.23 and a 200-day moving average of $490.37.

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

Deere & Company Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Truist Financial decreased their price objective on Deere & Company from $619.00 to $602.00 and set a "buy" rating on the stock in a report on Friday, August 15th. Melius Research raised Deere & Company from a "hold" rating to a "strong-buy" rating in a research report on Friday, June 6th. Evercore ISI set a $491.00 price objective on Deere & Company in a research report on Tuesday, August 19th. Oppenheimer decreased their target price on shares of Deere & Company from $566.00 to $512.00 and set an "outperform" rating for the company in a research note on Thursday. Finally, Citigroup reduced their price objective on Deere & Company from $550.00 to $525.00 and set a "neutral" rating for the company in a research note on Friday, May 30th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and nine have given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $517.27.

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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