Waverly Advisors LLC Increases Stock Position in Deere & Company (NYSE:DE)

Waverly Advisors LLC grew its stake in shares of Deere & Company (NYSE:DE) by 107.1% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,020 shares of the industrial products company’s stock after buying an additional 2,596 shares during the period. Waverly Advisors LLC’s holdings in Deere & Company were worth $2,062,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in DE. True Wealth Design LLC lifted its position in Deere & Company by 1,180.0% during the fourth quarter. True Wealth Design LLC now owns 64 shares of the industrial products company’s stock valued at $26,000 after buying an additional 59 shares in the last quarter. Rakuten Securities Inc. acquired a new position in Deere & Company during the 4th quarter worth approximately $28,000. Naples Money Management LLC purchased a new position in Deere & Company in the 4th quarter worth approximately $29,000. Private Wealth Management Group LLC purchased a new stake in shares of Deere & Company during the fourth quarter valued at approximately $29,000. Finally, Bfsg LLC purchased a new position in shares of Deere & Company in the fourth quarter valued at $30,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Insider Activity at Deere & Company

In other Deere & Company news, insider Cory J. Reed sold 13,370 shares of Deere & Company stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $377.63, for a total transaction of $5,048,913.10. Following the transaction, the insider now owns 41,642 shares of the company’s stock, valued at approximately $15,725,268.46. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.26% of the stock is owned by insiders.

Deere & Company Stock Performance

NYSE:DE opened at $371.77 on Wednesday. The company has a 50-day moving average of $371.99 and a 200-day moving average of $383.43. The firm has a market cap of $102.45 billion, a price-to-earnings ratio of 11.19, a price-to-earnings-growth ratio of 1.53 and a beta of 0.93. The company has a current ratio of 2.01, a quick ratio of 1.80 and a debt-to-equity ratio of 1.81. Deere & Company has a twelve month low of $345.93 and a twelve month high of $441.46.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, May 16th. The industrial products company reported $8.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.86 by $0.67. The business had revenue of $13.61 billion for the quarter, compared to analysts’ expectations of $13.29 billion. Deere & Company had a return on equity of 42.26% and a net margin of 16.15%. The company’s quarterly revenue was down 15.4% on a year-over-year basis. During the same period in the previous year, the firm posted $9.65 EPS. Analysts forecast that Deere & Company will post 25.41 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 8th. Stockholders of record on Friday, June 28th will be issued a dividend of $1.47 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.58%. Deere & Company’s dividend payout ratio is 17.70%.

Analyst Ratings Changes

Several research firms have issued reports on DE. Stifel Nicolaus lifted their price objective on Deere & Company from $425.00 to $450.00 and gave the stock a “buy” rating in a report on Friday, May 17th. Morgan Stanley lifted their target price on Deere & Company from $430.00 to $450.00 in a research report on Wednesday, May 15th. DA Davidson decreased their price objective on shares of Deere & Company from $483.00 to $465.00 and set a “buy” rating for the company in a report on Monday, May 20th. TD Cowen increased their target price on shares of Deere & Company from $383.00 to $390.00 and gave the stock a “hold” rating in a report on Friday, May 17th. Finally, Raymond James began coverage on shares of Deere & Company in a report on Friday, June 28th. They issued an “outperform” rating and a $420.00 price target for the company. Eleven analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $426.71.

About Deere & Company

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.