Providence Capital Advisors LLC Boosts Stock Holdings in Deere & Company (NYSE:DE)

Providence Capital Advisors LLC grew its position in shares of Deere & Company (NYSE:DE) by 1.1% during the third quarter, Holdings Channel.com reports. The fund owned 14,197 shares of the industrial products company’s stock after purchasing an additional 151 shares during the quarter. Providence Capital Advisors LLC’s holdings in Deere & Company were worth $5,925,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Sanibel Captiva Trust Company Inc. boosted its holdings in shares of Deere & Company by 2.5% in the 1st quarter. Sanibel Captiva Trust Company Inc. now owns 9,119 shares of the industrial products company’s stock worth $3,746,000 after buying an additional 221 shares during the last quarter. Atria Investments Inc boosted its holdings in shares of Deere & Company by 4.6% in the 1st quarter. Atria Investments Inc now owns 17,181 shares of the industrial products company’s stock worth $7,050,000 after buying an additional 763 shares during the last quarter. Cetera Investment Advisers boosted its holdings in shares of Deere & Company by 398.2% in the 1st quarter. Cetera Investment Advisers now owns 129,927 shares of the industrial products company’s stock worth $53,366,000 after buying an additional 103,850 shares during the last quarter. Cetera Advisors LLC boosted its holdings in shares of Deere & Company by 26.8% in the 1st quarter. Cetera Advisors LLC now owns 65,708 shares of the industrial products company’s stock worth $26,989,000 after buying an additional 13,903 shares during the last quarter. Finally, Cetera Advisor Networks LLC boosted its holdings in shares of Deere & Company by 2.5% in the 1st quarter. Cetera Advisor Networks LLC now owns 48,693 shares of the industrial products company’s stock worth $20,000,000 after buying an additional 1,170 shares during the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

DE has been the topic of a number of research analyst reports. Evercore ISI boosted their price target on shares of Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a report on Monday, August 19th. Morgan Stanley boosted their price objective on Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a research note on Monday. Deutsche Bank Aktiengesellschaft lowered their price objective on Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a research note on Thursday, August 8th. JPMorgan Chase & Co. boosted their price objective on Deere & Company from $420.00 to $450.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Finally, Truist Financial boosted their price objective on Deere & Company from $496.00 to $538.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Twelve analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $436.41.

Deere & Company Stock Up 1.1 %

Shares of DE opened at $466.00 on Thursday. The firm has a market cap of $127.50 billion, a P/E ratio of 18.20, a P/E/G ratio of 1.91 and a beta of 0.93. The stock has a 50 day simple moving average of $410.91 and a two-hundred day simple moving average of $387.53. The company has a debt-to-equity ratio of 1.89, a current ratio of 2.09 and a quick ratio of 1.90. Deere & Company has a 1 year low of $340.20 and a 1 year high of $469.39.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.90 by $0.65. The business had revenue of $9.28 billion during the quarter, compared to analyst estimates of $9.20 billion. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. Deere & Company’s revenue for the quarter was down 32.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $8.26 earnings per share. On average, analysts forecast that Deere & Company will post 20.23 earnings per share for the current fiscal year.

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.