Farther Finance Advisors LLC Has $2.72 Million Position in Deere & Company $DE

Farther Finance Advisors LLC lifted its stake in Deere & Company (NYSE:DE) by 23.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,937 shares of the industrial products company’s stock after acquiring an additional 1,115 shares during the quarter. Farther Finance Advisors LLC’s holdings in Deere & Company were worth $2,715,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. increased its position in Deere & Company by 1.4% in the 2nd quarter. Vanguard Group Inc. now owns 22,372,671 shares of the industrial products company’s stock worth $11,376,279,000 after purchasing an additional 309,081 shares during the last quarter. State Street Corp grew its stake in shares of Deere & Company by 0.6% in the 2nd quarter. State Street Corp now owns 10,386,268 shares of the industrial products company’s stock valued at $5,297,913,000 after buying an additional 64,262 shares in the last quarter. Geode Capital Management LLC increased its holdings in Deere & Company by 2.1% in the second quarter. Geode Capital Management LLC now owns 5,541,778 shares of the industrial products company’s stock worth $2,810,807,000 after buying an additional 111,627 shares during the last quarter. Norges Bank acquired a new position in Deere & Company in the second quarter worth approximately $1,578,243,000. Finally, Fisher Asset Management LLC raised its position in Deere & Company by 10.1% during the second quarter. Fisher Asset Management LLC now owns 2,580,228 shares of the industrial products company’s stock valued at $1,312,020,000 after acquiring an additional 236,406 shares in the last quarter. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on DE shares. Evercore ISI restated a “positive” rating on shares of Deere & Company in a research note on Friday, November 28th. Wolfe Research lowered their target price on shares of Deere & Company from $550.00 to $520.00 and set an “outperform” rating on the stock in a research report on Friday, October 3rd. Zacks Research raised Deere & Company from a “strong sell” rating to a “hold” rating in a research report on Wednesday, December 3rd. DA Davidson reiterated a “buy” rating and set a $580.00 price target on shares of Deere & Company in a research note on Monday, December 1st. Finally, Oppenheimer raised their price objective on Deere & Company from $512.00 to $531.00 and gave the company an “outperform” rating in a research note on Friday, November 28th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $522.70.

Deere & Company Trading Up 0.2%

Deere & Company stock opened at $467.13 on Friday. Deere & Company has a 52 week low of $403.01 and a 52 week high of $533.78. The company has a debt-to-equity ratio of 1.68, a quick ratio of 2.01 and a current ratio of 2.22. The firm has a market capitalization of $126.33 billion, a PE ratio of 25.24, a PEG ratio of 1.79 and a beta of 1.00. The business’s 50-day simple moving average is $472.91 and its 200-day simple moving average is $485.50.

Deere & Company (NYSE:DE) last released its earnings results on Wednesday, November 26th. The industrial products company reported $3.93 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.96 by ($0.03). The business had revenue of $12.39 billion during the quarter, compared to analyst estimates of $9.77 billion. Deere & Company had a net margin of 11.00% and a return on equity of 20.54%. The business’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same period last year, the business earned $4.55 EPS. Equities research analysts forecast that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 9th. Investors of record on Wednesday, December 31st will be given a dividend of $1.62 per share. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $6.48 dividend on an annualized basis and a yield of 1.4%. Deere & Company’s payout ratio is 35.01%.

Insider Buying and Selling

In related news, CEO John C. May II sold 11,106 shares of the company’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $500.08, for a total transaction of $5,553,888.48. Following the completion of the transaction, the chief executive officer directly owned 112,453 shares in the company, valued at $56,235,496.24. This represents a 8.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.29% of the stock is currently owned by insiders.

Deere & Company Company Profile

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.