HighTower Advisors LLC Has $139.31 Million Stock Position in Deere & Company $DE

HighTower Advisors LLC reduced its holdings in Deere & Company (NYSE:DEFree Report) by 2.4% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 219,618 shares of the industrial products company’s stock after selling 5,375 shares during the quarter. HighTower Advisors LLC’s holdings in Deere & Company were worth $139,310,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of DE. Carlson Financial Inc. lifted its position in shares of Deere & Company by 2.4% during the 2nd quarter. Carlson Financial Inc. now owns 798 shares of the industrial products company’s stock valued at $506,000 after acquiring an additional 19 shares during the period. Vancity Investment Management Ltd grew its holdings in Deere & Company by 9.0% in the second quarter. Vancity Investment Management Ltd now owns 1,532 shares of the industrial products company’s stock worth $972,000 after purchasing an additional 127 shares during the period. California State Teachers Retirement System increased its stake in Deere & Company by 60,460.4% in the second quarter. California State Teachers Retirement System now owns 234,586,018 shares of the industrial products company’s stock valued at $148,804,949,000 after purchasing an additional 234,198,659 shares in the last quarter. Ameritas Advisory Services LLC increased its stake in Deere & Company by 81.9% in the second quarter. Ameritas Advisory Services LLC now owns 1,986 shares of the industrial products company’s stock valued at $1,260,000 after purchasing an additional 894 shares in the last quarter. Finally, Guardian Wealth Advisors LLC NC raised its holdings in shares of Deere & Company by 3.2% during the second quarter. Guardian Wealth Advisors LLC NC now owns 732 shares of the industrial products company’s stock valued at $464,000 after purchasing an additional 23 shares during the period. 68.58% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on DE. Raymond James Financial raised their target price on Deere & Company from $700.00 to $730.00 and gave the company an “outperform” rating in a research note on Monday, August 31st. Seaport Research Partners set a $570.00 price target on Deere & Company in a research note on Friday, August 14th. Barclays raised their price objective on Deere & Company from $640.00 to $675.00 and gave the company an “overweight” rating in a research note on Monday, August 24th. Bank of America decreased their price objective on Deere & Company from $672.00 to $607.50 and set a “neutral” rating for the company in a report on Friday, May 22nd. Finally, Oppenheimer upped their target price on Deere & Company from $680.00 to $685.00 and gave the stock an “outperform” rating in a research report on Thursday, August 20th. Sixteen equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, Deere & Company currently has a consensus rating of “Moderate Buy” and a consensus price target of $680.73.

Check Out Our Latest Analysis on Deere & Company

Deere & Company Price Performance

Shares of NYSE:DE opened at $692.68 on Monday. The company has a current ratio of 2.10, a quick ratio of 1.89 and a debt-to-equity ratio of 1.45. The stock has a market cap of $186.76 billion, a PE ratio of 38.48, a price-to-earnings-growth ratio of 2.86 and a beta of 0.90. The stock’s fifty day simple moving average is $619.13 and its two-hundred day simple moving average is $596.25. Deere & Company has a 1-year low of $433.00 and a 1-year high of $705.88.

Deere & Company (NYSE:DEGet Free Report) last posted 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. The firm had revenue of $12.61 billion during the quarter, compared to analyst estimates of $10.81 billion. Deere & Company had a net margin of 10.16% and a return on equity of 18.10%. The business’s revenue was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.75 EPS. As a group, analysts forecast that Deere & Company will post 18.12 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently disclosed 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. This represents a $6.48 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Wednesday, September 30th. Deere & Company’s dividend payout ratio is presently 36.00%.

Deere & Company Profile

(Free Report)

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.

See Also

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Institutional Ownership by Quarter for Deere & Company (NYSE:DE)

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