Elevate Capital Advisors LLC Takes Position in Deere & Company (NYSE:DE)

Elevate Capital Advisors LLC purchased a new position in shares of Deere & Company (NYSE:DE) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 4,099 shares of the industrial products company’s stock, valued at approximately $1,737,000. Deere & Company comprises about 1.5% of Elevate Capital Advisors LLC’s holdings, making the stock its 24th largest holding.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Livelsberger Financial Advisory acquired a new position in shares of Deere & Company during the 3rd quarter worth about $32,000. Modus Advisors LLC bought a new position in Deere & Company during the 4th quarter worth approximately $32,000. YANKCOM Partnership acquired a new position in Deere & Company during the fourth quarter valued at approximately $34,000. Synergy Asset Management LLC bought a new stake in Deere & Company in the fourth quarter valued at approximately $35,000. Finally, Continuum Advisory LLC raised its holdings in Deere & Company by 155.8% in the third quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock worth $43,000 after purchasing an additional 67 shares during the period. 68.58% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

DE has been the subject of several research analyst reports. Citigroup decreased their price target on shares of Deere & Company from $470.00 to $430.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. JPMorgan Chase & Co. boosted their target price on Deere & Company from $450.00 to $470.00 and gave the company a “neutral” rating in a research note on Wednesday, January 15th. Jefferies Financial Group lowered Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price target on the stock. in a research report on Friday, December 6th. UBS Group boosted their price objective on Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Finally, Morgan Stanley increased their target price on Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a research note on Monday, November 25th. Eleven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $444.50.

Deere & Company Trading Up 0.1 %

Shares of NYSE:DE opened at $465.63 on Monday. The company’s 50-day moving average price is $445.00 and its two-hundred day moving average price is $413.15. Deere & Company has a one year low of $340.20 and a one year high of $485.84. The company has a debt-to-equity ratio of 1.89, a current ratio of 2.09 and a quick ratio of 1.90. The stock has a market capitalization of $126.82 billion, a PE ratio of 18.19, a price-to-earnings-growth ratio of 2.87 and a beta of 0.98.

Deere & Company (NYSE:DE) last released 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 $3.89 by $0.66. The business had revenue of $9.28 billion for 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 was down 32.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $8.26 earnings per share. On average, equities analysts forecast that Deere & Company will post 19.38 EPS for the current fiscal year.

Deere & Company Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.39%. The ex-dividend date is Tuesday, December 31st. This is an increase from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s dividend payout ratio is presently 25.31%.

Deere & Company 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.