EverSource Wealth Advisors LLC Purchases 1,018 Shares of Deere & Company (NYSE:DE)

EverSource Wealth Advisors LLC increased its position in Deere & Company (NYSE:DE) by 16.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,087 shares of the industrial products company’s stock after acquiring an additional 1,018 shares during the period. EverSource Wealth Advisors LLC’s holdings in Deere & Company were worth $2,774,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. 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 purchasing an additional 59 shares in the last quarter. Pineridge Advisors LLC lifted its position in Deere & Company by 725.0% during the first quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 58 shares in the last quarter. Rakuten Securities Inc. purchased a new position in Deere & Company during the fourth quarter valued at $28,000. Naples Money Management LLC purchased a new position in Deere & Company during the fourth quarter valued at $29,000. Finally, Private Wealth Management Group LLC purchased a new position in shares of Deere & Company in the fourth quarter valued at about $29,000. Institutional investors own 68.58% of the company’s stock.

Deere & Company Trading Down 1.2 %

Shares of NYSE DE traded down $4.16 during trading hours on Friday, reaching $353.75. The stock had a trading volume of 2,820,703 shares, compared to its average volume of 1,566,937. The company has a current ratio of 2.01, a quick ratio of 1.80 and a debt-to-equity ratio of 1.81. The firm has a market cap of $97.48 billion, a price-to-earnings ratio of 10.65, a P/E/G ratio of 1.59 and a beta of 0.93. The business’s fifty day moving average price is $370.86 and its two-hundred day moving average price is $382.94. Deere & Company has a 52-week low of $345.93 and a 52-week high of $441.46.

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

Deere & Company Dividend Announcement

The firm also recently disclosed 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 is Friday, June 28th. This represents a $5.88 annualized dividend and a dividend yield of 1.66%. Deere & Company’s dividend payout ratio is presently 17.70%.

Insider Activity

In other news, insider Cory J. Reed sold 13,370 shares of the stock in a transaction on 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 completion of the sale, the insider now owns 41,642 shares in the company, valued at approximately $15,725,268.46. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on DE. DA Davidson lowered their price objective on Deere & Company from $483.00 to $465.00 and set a “buy” rating on the stock in a research report on Monday, May 20th. Truist Financial lowered their price objective on Deere & Company from $460.00 to $439.00 and set a “buy” rating on the stock in a research report on Tuesday, July 2nd. Oppenheimer decreased their target price on Deere & Company from $465.00 to $448.00 and set an “outperform” rating on the stock in a research report on Monday, July 22nd. Daiwa Capital Markets boosted their target price on Deere & Company from $400.00 to $420.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 15th. Finally, Stifel Nicolaus boosted their target price on Deere & Company from $425.00 to $450.00 and gave the stock a “buy” rating in a research report on Friday, May 17th. Eleven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $426.71.

Deere & Company Company Profile

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.