Waverly Advisors LLC Buys 2,852 Shares of Deere & Company $DE

Key Points

• Waverly Advisors increased its Deere & Company position by 8.7% in the second quarter, buying 2,852 shares for a total of 35,614 shares valued at $22.6 million. Institutional investors collectively own 68.58% of the company.
• Deere reported quarterly EPS of $5.10, exceeding the $4.69 consensus estimate, while revenue rose 6.2% year over year to $12.61 billion. Shares opened at $680.72, near the analyst consensus target of $680.73.
• The company declared a quarterly dividend of $1.62 per share, equivalent to $6.48 annually and a 1.0% yield. Analyst sentiment remains a “Moderate Buy,” with 16 Buy ratings and eight Holds, although one firm downgraded the stock to Sell.

Waverly Advisors LLC raised its position in Deere & Company (NYSE:DE - Free Report) by 8.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,614 shares of the industrial products company's stock after buying an additional 2,852 shares during the quarter. Waverly Advisors LLC's holdings in Deere & Company were worth $22,591,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. California State Teachers Retirement System lifted its position in shares of Deere & Company by 60,460.4% during the second quarter. California State Teachers Retirement System now owns 234,586,018 shares of the industrial products company's stock worth $148,804,949,000 after acquiring an additional 234,198,659 shares in the last quarter. BlackRock Inc. bought a new stake in Deere & Company during the second quarter valued at approximately $11,763,504,000. State Street Corp lifted its holdings in shares of Deere & Company by 0.9% during the 4th quarter. State Street Corp now owns 10,485,949 shares of the industrial products company's stock worth $4,898,717,000 after acquiring an additional 97,049 shares during the last quarter. Capital World Investors grew its position in Deere & Company by 53.9% in the fourth quarter. Capital World Investors now owns 9,592,004 shares of the industrial products company's stock worth $4,465,906,000 after acquiring an additional 3,358,264 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in Deere & Company by 2.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,692,877 shares of the industrial products company's stock valued at $3,581,574,000 after acquiring an additional 158,584 shares during the last quarter. Institutional investors own 68.58% of the company's stock.

Deere & Company Price Performance

Shares of NYSE:DE opened at $680.72 on Wednesday. The company has a market capitalization of $183.54 billion, a PE ratio of 37.82, a PEG ratio of 2.86 and a beta of 0.90. The company has a debt-to-equity ratio of 1.45, a current ratio of 2.10 and a quick ratio of 1.89. Deere & Company has a 1-year low of $433.00 and a 1-year high of $705.88. The business has a fifty day moving average price of $621.37 and a 200-day moving average price of $597.52.

Deere & Company (NYSE:DE - Get Free Report) last issued its earnings results on Thursday, August 20th. The industrial products company reported $5.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.69 by $0.41. Deere & Company had a net margin of 10.16% and a return on equity of 18.10%. The firm had revenue of $12.61 billion for the quarter, compared to the consensus estimate of $10.81 billion. During the same quarter in the prior year, the firm posted $4.75 earnings per share. The business's revenue was up 6.2% on a year-over-year basis. As a group, equities analysts expect that Deere & Company will post 18.12 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 9th. Shareholders of record on Wednesday, September 30th will be given a $1.62 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $6.48 dividend on an annualized basis and a yield of 1.0%. Deere & Company's payout ratio is 36.00%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on DE shares. Wall Street Zen cut Deere & Company from a "hold" rating to a "sell" rating in a report on Saturday, August 22nd. Truist Financial dropped their target price on shares of Deere & Company from $812.00 to $804.00 and set a "buy" rating for the company in a report on Monday, August 24th. DA Davidson raised their price target on Deere & Company from $685.00 to $760.00 and gave the stock a "buy" rating in a research note on Monday, August 24th. UBS Group cut their price objective on Deere & Company from $732.00 to $728.00 and set a "buy" rating on the stock in a research report on Friday, August 21st. Finally, Royal Bank Of Canada restated an "outperform" rating and set a $752.00 price target on shares of Deere & Company in a research report on Monday, August 24th. Sixteen analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $680.73.

Deere & Company Company Profile

Deere & Company, operating under the John Deere brand, is a global manufacturer of agricultural, construction, forestry and turf-care equipment. Its products include tractors, combines, harvesters, planters, sprayers, loaders, excavators, skid steers, forestry machines, commercial mowing equipment and compact utility tractors. The company also develops precision agriculture and construction technologies, including machine guidance, automation, data-management and connected-equipment solutions.

Founded by blacksmith John Deere in 1837, the company has grown from its original steel plow business into a diversified equipment and technology provider.

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