Deere & Company $DE Shares Acquired by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC increased its stake in Deere & Company (NYSE:DE) by 14.1% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,385 shares of the industrial products company’s stock after purchasing an additional 2,266 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Deere & Company were worth $11,662,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in DE. California State Teachers Retirement System increased its holdings 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 buying an additional 234,198,659 shares in the last quarter. BlackRock Inc. purchased a new stake in shares of Deere & Company during the 2nd quarter worth approximately $11,763,504,000. Norges Bank acquired a new stake in shares of Deere & Company in the 4th quarter worth approximately $1,715,633,000. Capital World Investors increased its stake in Deere & Company by 53.9% in the 4th quarter. Capital World Investors now owns 9,592,004 shares of the industrial products company’s stock valued at $4,465,906,000 after purchasing an additional 3,358,264 shares in the last quarter. Finally, Bank of America Corp DE purchased a new position in Deere & Company in the 2nd quarter valued at approximately $1,685,093,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Stock Performance

Shares of DE opened at $677.68 on Friday. Deere & Company has a 1 year low of $433.00 and a 1 year high of $705.88. The company’s 50 day simple moving average is $623.48 and its 200 day simple moving average is $597.82. The company has a market capitalization of $182.72 billion, a price-to-earnings ratio of 37.65, a PEG ratio of 2.79 and a beta of 0.90. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.89 and a current ratio of 2.10.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, August 20th. The industrial products company reported $5.10 EPS for the quarter, topping the consensus estimate of $4.69 by $0.41. Deere & Company had a net margin of 10.16% and a return on equity of 18.10%. The firm had revenue of $12.61 billion during the quarter, compared to analysts’ expectations of $10.81 billion. During the same period in the previous year, the company earned $4.75 EPS. Deere & Company’s revenue for the quarter was up 6.2% on a year-over-year basis. On average, sell-side analysts predict that Deere & Company will post 18.12 EPS for the current year.

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 9th. Stockholders of record on Wednesday, September 30th will be paid a dividend of $1.62 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.0%. Deere & Company’s dividend payout ratio is currently 36.00%.

Analyst Ratings Changes

A number of analysts have commented on the company. Citigroup boosted their target price on Deere & Company from $610.00 to $650.00 and gave the stock a “neutral” rating in a research report on Friday, August 21st. JPMorgan Chase & Co. lifted their price target on Deere & Company from $570.00 to $585.00 and gave the stock a “neutral” rating in a research note on Friday, August 21st. Bank of America lowered their price objective on shares of Deere & Company from $672.00 to $607.50 and set a “neutral” rating on the stock in a research note on Friday, May 22nd. DA Davidson raised their target price on shares of Deere & Company from $685.00 to $760.00 and gave the company a “buy” rating in a report on Monday, August 24th. Finally, Barclays lifted their target price on shares of Deere & Company from $640.00 to $675.00 and gave the stock an “overweight” rating in a research report on Monday, August 24th. Sixteen investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $680.73.

Deere & Company Profile

Deere & Company, operating under the John Deere brand, is a global manufacturer of agricultural, construction, forestry and turf-care equipment. Its products include tractors, combines, harvesters, planters, sprayers, loaders, excavators, skid steers, forestry machines, commercial mowing equipment and compact utility tractors. The company also develops precision agriculture and construction technologies, including machine guidance, automation, data-management and connected-equipment solutions.

Founded by blacksmith John Deere in 1837, the company has grown from its original steel plow business into a diversified equipment and technology provider.