Envestnet Asset Management Inc. Has $273.02 Million Stock Holdings in Deere & Company $DE

Envestnet Asset Management Inc. lifted its holdings in Deere & Company (NYSE:DE) by 35.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 536,917 shares of the industrial products company’s stock after buying an additional 141,293 shares during the period. Envestnet Asset Management Inc.’s holdings in Deere & Company were worth $273,017,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Mid American Wealth Advisory Group Inc. bought a new position in Deere & Company during the second quarter valued at about $25,000. Activest Wealth Management increased its stake in shares of Deere & Company by 2,750.0% in the first quarter. Activest Wealth Management now owns 57 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 55 shares during the period. Hughes Financial Services LLC bought a new position in shares of Deere & Company in the first quarter worth about $29,000. Cornerstone Planning Group LLC increased its stake in shares of Deere & Company by 116.1% in the first quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 36 shares during the period. Finally, Marshall & Sullivan Inc. WA bought a new position in shares of Deere & Company in the second quarter worth about $38,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Stock Up 0.8%

DE stock opened at $473.01 on Monday. Deere & Company has a twelve month low of $387.03 and a twelve month high of $533.78. The company has a market cap of $127.87 billion, a PE ratio of 24.73, a price-to-earnings-growth ratio of 3.04 and a beta of 1.02. The business’s 50-day simple moving average is $469.88 and its 200 day simple moving average is $489.27. The company has a quick ratio of 1.98, a current ratio of 2.19 and a debt-to-equity ratio of 1.76.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share for the quarter, topping analysts’ consensus estimates of $4.62 by $0.13. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The business had revenue of $10.36 billion for the quarter, compared to the consensus estimate of $10.33 billion. During the same period last year, the business earned $6.29 earnings per share. The firm’s revenue for the quarter was down 9.0% compared to the same quarter last year. On average, research analysts anticipate that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Tuesday, September 30th will be issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Tuesday, September 30th. Deere & Company’s payout ratio is presently 33.87%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on DE. Daiwa Capital Markets dropped their price objective on Deere & Company from $565.00 to $530.00 and set an “outperform” rating on the stock in a research note on Thursday, September 25th. Oppenheimer dropped their price objective on Deere & Company from $566.00 to $512.00 and set an “outperform” rating on the stock in a research note on Thursday, September 18th. UBS Group set a $535.00 price objective on Deere & Company and gave the stock a “buy” rating in a research note on Friday, October 17th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Deere & Company in a research note on Wednesday, October 8th. Finally, Evercore ISI set a $491.00 target price on Deere & Company in a research report on Tuesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Deere & Company currently has an average rating of “Moderate Buy” and a consensus target price of $518.72.

Deere & Company Profile

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.