Cetera Advisor Networks LLC Increases Stock Position in Deere & Company (NYSE:DE)

Cetera Advisor Networks LLC boosted its position in Deere & Company (NYSE:DE) by 2.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 48,693 shares of the industrial products company’s stock after acquiring an additional 1,170 shares during the period. Cetera Advisor Networks LLC’s holdings in Deere & Company were worth $20,000,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Harbor Investment Advisory LLC lifted its position in Deere & Company by 27.4% during the first quarter. Harbor Investment Advisory LLC now owns 1,730 shares of the industrial products company’s stock valued at $710,000 after buying an additional 372 shares during the period. Summit Asset Management LLC raised its stake in Deere & Company by 24.1% during the fourth quarter. Summit Asset Management LLC now owns 1,030 shares of the industrial products company’s stock valued at $412,000 after buying an additional 200 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Deere & Company by 2.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,570,773 shares of the industrial products company’s stock worth $628,105,000 after acquiring an additional 31,074 shares in the last quarter. Brevan Howard Capital Management LP grew its stake in shares of Deere & Company by 857.9% in the fourth quarter. Brevan Howard Capital Management LP now owns 7,654 shares of the industrial products company’s stock worth $3,061,000 after acquiring an additional 6,855 shares during the last quarter. Finally, Aviance Capital Partners LLC bought a new position in shares of Deere & Company during the first quarter valued at $2,783,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Price Performance

NYSE DE traded down $4.16 during trading hours on Friday, reaching $353.75. The company’s stock had a trading volume of 2,820,703 shares, compared to its average volume of 1,566,937. The company has a quick ratio of 1.80, a current ratio of 2.01 and a debt-to-equity ratio of 1.81. The firm’s 50-day moving average price is $370.86 and its 200-day moving average price is $382.93. Deere & Company has a 1 year low of $345.93 and a 1 year high of $441.46. The company has a market capitalization of $97.48 billion, a price-to-earnings ratio of 10.65, a PEG ratio of 1.59 and a beta of 0.93.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, May 16th. The industrial products company reported $8.53 earnings per share for the quarter, beating analysts’ consensus estimates of $7.86 by $0.67. The business 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 period in the previous year, the company posted $9.65 EPS. On average, equities research analysts predict that Deere & Company will post 25.41 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 8th. Investors of record on Friday, June 28th will be issued a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date of this dividend is Friday, June 28th. Deere & Company’s dividend payout ratio (DPR) is presently 17.70%.

Wall Street Analysts Forecast Growth

DE has been the topic of several recent analyst reports. Oppenheimer cut their price objective on shares of Deere & Company from $465.00 to $448.00 and set an “outperform” rating on the stock in a research report on Monday, July 22nd. Morgan Stanley raised their price target on shares of Deere & Company from $430.00 to $450.00 in a research report on Wednesday, May 15th. Daiwa Capital Markets upped their price objective on Deere & Company from $400.00 to $420.00 and gave the company an “overweight” rating in a research report on Wednesday, May 15th. Truist Financial reduced their target price on Deere & Company from $460.00 to $439.00 and set a “buy” rating for the company in a report on Tuesday, July 2nd. Finally, JPMorgan Chase & Co. lowered their price target on Deere & Company from $385.00 to $375.00 and set a “neutral” rating on the stock in a report on Thursday, July 11th. Eleven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, Deere & Company has a consensus rating of “Hold” and an average price target of $426.71.

Insider Buying and Selling at Deere & Company

In other news, insider Cory J. Reed sold 13,370 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now directly owns 41,642 shares of the company’s stock, valued at approximately $15,725,268.46. The sale was disclosed in a filing with the SEC, which is available at this link. 0.26% of the stock is owned by corporate insiders.

Deere & 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.