Continuum Advisory LLC Boosts Holdings in Deere & Company (NYSE:DE)

Continuum Advisory LLC lifted its position in shares of Deere & Company (NYSE:DE) by 155.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 110 shares of the industrial products company’s stock after purchasing an additional 67 shares during the period. Continuum Advisory LLC’s holdings in Deere & Company were worth $43,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in DE. Envestnet Portfolio Solutions Inc. boosted its stake in shares of Deere & Company by 12.4% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 12,537 shares of the industrial products company’s stock valued at $4,684,000 after buying an additional 1,380 shares during the last quarter. Fiduciary Financial Group LLC acquired a new position in Deere & Company during the 2nd quarter worth $361,000. Naples Global Advisors LLC grew its holdings in Deere & Company by 4.4% during the 2nd quarter. Naples Global Advisors LLC now owns 4,605 shares of the industrial products company’s stock worth $1,727,000 after acquiring an additional 194 shares in the last quarter. Miracle Mile Advisors LLC increased its position in shares of Deere & Company by 0.7% in the 2nd quarter. Miracle Mile Advisors LLC now owns 3,945 shares of the industrial products company’s stock worth $1,474,000 after purchasing an additional 29 shares during the last quarter. Finally, Old Port Advisors raised its stake in shares of Deere & Company by 12.5% in the 2nd quarter. Old Port Advisors now owns 728 shares of the industrial products company’s stock valued at $272,000 after purchasing an additional 81 shares in the last quarter. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on DE. Truist Financial boosted their price objective on Deere & Company from $496.00 to $538.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Evercore ISI boosted their price target on Deere & Company from $371.00 to $378.00 and gave the company an “in-line” rating in a report on Monday, August 19th. Hsbc Global Res cut Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 19th. JPMorgan Chase & Co. boosted their target price on shares of Deere & Company from $420.00 to $450.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Finally, Citigroup increased their target price on shares of Deere & Company from $460.00 to $470.00 and gave the stock a “neutral” rating in a report on Monday. Thirteen equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $443.28.

Deere & Company Trading Down 1.9 %

Shares of DE stock opened at $439.48 on Friday. Deere & Company has a 1 year low of $340.20 and a 1 year high of $469.39. The firm has a market capitalization of $120.24 billion, a PE ratio of 17.21, a price-to-earnings-growth ratio of 1.90 and a beta of 0.96. The stock has a fifty day moving average of $419.35 and a two-hundred day moving average of $391.72. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.90 and a current ratio of 2.09.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, topping the consensus estimate of $3.89 by $0.66. The business had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.20 billion. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The company’s quarterly revenue was down 32.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $8.26 earnings per share. As a group, research analysts expect that Deere & Company will post 19.52 EPS for the current year.

Deere & Company Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Tuesday, December 31st will be paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date of this dividend is Tuesday, December 31st. This is a positive change from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s dividend payout ratio (DPR) is currently 25.31%.

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.