Sequoia Financial Advisors LLC Raises Holdings in Deere & Company $DE

Sequoia Financial Advisors LLC boosted its position in Deere & Company (NYSE:DE) by 14.1% during the second quarter, Holdings Channel.com reports. The fund 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.

Other large investors also recently modified their holdings of the company. California State Teachers Retirement System grew its holdings in shares of Deere & Company by 60,460.4% during the 2nd quarter. California State Teachers Retirement System now owns 234,586,018 shares of the industrial products company’s stock worth $148,804,949,000 after purchasing an additional 234,198,659 shares during the period. BlackRock Inc. acquired a new position in Deere & Company during the second quarter valued at approximately $11,763,504,000. Norges Bank purchased a new stake in Deere & Company during the fourth quarter worth approximately $1,715,633,000. Capital World Investors grew its stake in Deere & Company by 53.9% during the fourth quarter. Capital World Investors now owns 9,592,004 shares of the industrial products company’s stock worth $4,465,906,000 after buying an additional 3,358,264 shares during the period. Finally, Bank of America Corp DE acquired a new stake in shares of Deere & Company in the second quarter worth $1,685,093,000. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Trading Up 0.1%

Shares of NYSE DE opened at $677.68 on Friday. The company has a quick ratio of 1.89, a current ratio of 2.10 and a debt-to-equity ratio of 1.45. The stock’s 50 day moving average price is $623.48 and its two-hundred day moving average price is $597.82. Deere & Company has a 52-week low of $433.00 and a 52-week high of $705.88. The stock has a market capitalization of $182.72 billion, a P/E ratio of 37.65, a PEG ratio of 2.79 and a beta of 0.90.

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

Deere & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 9th. Stockholders of record on Wednesday, September 30th will be given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Wednesday, September 30th. Deere & Company’s dividend payout ratio (DPR) is presently 36.00%.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Bank of America lowered their price target on Deere & Company from $672.00 to $607.50 and set a “neutral” rating for the company in a report on Friday, May 22nd. Oppenheimer upped their target price on Deere & Company from $680.00 to $685.00 and gave the stock an “outperform” rating in a research report on Thursday, August 20th. Nomura upgraded Deere & Company to a “buy” rating in a research note on Monday, August 31st. Barclays boosted their price target on Deere & Company from $640.00 to $675.00 and gave the stock an “overweight” rating in a research report on Monday, August 24th. Finally, Seaport Research Partners set a $570.00 price target on shares of Deere & Company in a report on Friday, August 14th. Sixteen equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $680.73.

Deere & Company 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.