Ellsworth Advisors LLC Has $4.57 Million Stake in Deere & Company (NYSE:DE)

Ellsworth Advisors LLC raised its position in shares of Deere & Company (NYSE:DE) by 2.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,225 shares of the industrial products company’s stock after buying an additional 306 shares during the period. Ellsworth Advisors LLC’s holdings in Deere & Company were worth $4,568,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Fiduciary Financial Group LLC acquired a new stake in shares of Deere & Company during the second quarter worth approximately $361,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its holdings in shares of Deere & Company by 1.3% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 11,661 shares of the industrial products company’s stock valued at $4,402,000 after purchasing an additional 155 shares in the last quarter. Whitener Capital Management Inc. increased its holdings in shares of Deere & Company by 6.0% in the second quarter. Whitener Capital Management Inc. now owns 6,795 shares of the industrial products company’s stock valued at $2,539,000 after purchasing an additional 385 shares in the last quarter. SOA Wealth Advisors LLC. increased its holdings in shares of Deere & Company by 115.8% in the second quarter. SOA Wealth Advisors LLC. now owns 1,461 shares of the industrial products company’s stock valued at $546,000 after purchasing an additional 784 shares in the last quarter. Finally, Montecito Bank & Trust increased its holdings in shares of Deere & Company by 4.8% in the second quarter. Montecito Bank & Trust now owns 2,901 shares of the industrial products company’s stock valued at $1,084,000 after purchasing an additional 133 shares in the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Wall Street Analyst Weigh In

DE has been the subject of a number of research reports. DA Davidson lowered their price target on shares of Deere & Company from $483.00 to $465.00 and set a “buy” rating for the company in a report on Monday, May 20th. JPMorgan Chase & Co. lowered their price target on shares of Deere & Company from $375.00 to $360.00 and set a “neutral” rating for the company in a report on Tuesday. Oppenheimer reduced 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 note on Monday, July 22nd. Truist Financial reaffirmed a “buy” rating and issued a $443.00 price objective (up from $439.00) on shares of Deere & Company in a research note on Friday. Finally, Stifel Nicolaus raised their price objective on shares of Deere & Company from $425.00 to $450.00 and gave the company a “buy” rating in a research note on Friday, May 17th. Thirteen investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $422.35.

Insider Activity at Deere & Company

In related news, insider Cory J. Reed sold 13,370 shares of the business’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $377.63, for a total value of $5,048,913.10. Following the sale, the insider now directly owns 41,642 shares of the company’s stock, valued at approximately $15,725,268.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.26% of the stock is currently owned by insiders.

Deere & Company Trading Up 1.3 %

Shares of NYSE DE traded up $4.73 during midday trading on Friday, reaching $377.99. 2,101,207 shares of the stock were exchanged, compared to its average volume of 1,549,985. The business has a 50-day simple moving average of $367.47 and a two-hundred day simple moving average of $380.57. The company has a market capitalization of $104.16 billion, a price-to-earnings ratio of 11.38, a P/E/G ratio of 1.59 and a beta of 0.93. Deere & Company has a 12 month low of $340.20 and a 12 month high of $425.42. The company has a debt-to-equity ratio of 1.81, a current ratio of 2.01 and a quick ratio of 1.80.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, beating the consensus estimate of $5.80 by $0.49. The business had revenue of $11.39 billion for the quarter, compared to analysts’ expectations of $10.94 billion. Deere & Company had a net margin of 16.15% and a return on equity of 42.26%. The firm’s revenue was down 20.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $10.20 EPS. As a group, equities research analysts expect that Deere & Company will post 25.41 EPS for the current year.

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 8th. Investors of record on Friday, June 28th were given a $1.47 dividend. The ex-dividend date was Friday, June 28th. This represents a $5.88 annualized dividend and a yield of 1.56%. Deere & Company’s dividend payout ratio is currently 17.70%.

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.