Avestar Capital LLC Purchases 1,971 Shares of Deere & Company $DE

Avestar Capital LLC lifted its position in shares of Deere & Company (NYSE:DE) by 121.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,598 shares of the industrial products company’s stock after purchasing an additional 1,971 shares during the period. Avestar Capital LLC’s holdings in Deere & Company were worth $1,830,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. OLD National Bancorp IN grew its holdings in shares of Deere & Company by 2.6% in the second quarter. OLD National Bancorp IN now owns 24,000 shares of the industrial products company’s stock valued at $12,204,000 after acquiring an additional 610 shares in the last quarter. Providence Capital Advisors LLC boosted its position in Deere & Company by 2.1% in the first quarter. Providence Capital Advisors LLC now owns 14,639 shares of the industrial products company’s stock worth $6,871,000 after purchasing an additional 303 shares during the last quarter. Bragg Financial Advisors Inc grew its stake in Deere & Company by 12.7% in the 1st quarter. Bragg Financial Advisors Inc now owns 7,213 shares of the industrial products company’s stock valued at $3,386,000 after purchasing an additional 813 shares during the period. United Asset Strategies Inc. purchased a new stake in shares of Deere & Company during the 1st quarter valued at $2,496,000. Finally, Mesirow Financial Investment Management Inc. increased its position in shares of Deere & Company by 1.0% during the 2nd quarter. Mesirow Financial Investment Management Inc. now owns 4,678 shares of the industrial products company’s stock valued at $2,379,000 after purchasing an additional 45 shares during the last quarter. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Deere & Company

In related news, CEO John C. May II sold 11,106 shares of the business’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $500.08, for a total transaction of $5,553,888.48. Following the sale, the chief executive officer directly owned 112,453 shares in the company, valued at approximately $56,235,496.24. The trade was a 8.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.29% of the company’s stock.

Deere & Company Stock Performance

NYSE DE opened at $475.13 on Friday. The company’s 50 day moving average is $467.81 and its 200-day moving average is $489.21. Deere & Company has a 12-month low of $403.01 and a 12-month high of $533.78. The company has a quick ratio of 2.01, a current ratio of 2.22 and a debt-to-equity ratio of 1.68. The firm has a market cap of $128.44 billion, a P/E ratio of 25.67, a price-to-earnings-growth ratio of 1.78 and a beta of 1.00.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Wednesday, November 26th. The industrial products company reported $3.93 EPS for the quarter, missing the consensus estimate of $3.96 by ($0.03). Deere & Company had a return on equity of 20.54% and a net margin of 11.00%.The business had revenue of $12.39 billion during the quarter, compared to the consensus estimate of $9.77 billion. During the same period last year, the business posted $4.55 earnings per share. The firm’s quarterly revenue was up 14.1% on a year-over-year basis. Sell-side analysts predict that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, February 9th. Stockholders of record on Wednesday, December 31st will be given a $1.62 dividend. The ex-dividend date is Wednesday, December 31st. This represents a $6.48 annualized dividend and a dividend yield of 1.4%. Deere & Company’s payout ratio is 35.01%.

Analysts Set New Price Targets

DE has been the topic of a number of research analyst reports. Oppenheimer boosted their price target on shares of Deere & Company from $512.00 to $531.00 and gave the stock an “outperform” rating in a report on Friday, November 28th. Evercore ISI reiterated a “positive” rating on shares of Deere & Company in a research note on Friday, November 28th. JPMorgan Chase & Co. reduced their target price on shares of Deere & Company from $495.00 to $480.00 and set a “neutral” rating for the company in a research report on Tuesday, October 14th. Jefferies Financial Group lowered their price target on shares of Deere & Company from $510.00 to $440.00 and set a “hold” rating on the stock in a report on Wednesday, October 8th. Finally, Sanford C. Bernstein upped their price objective on Deere & Company from $487.00 to $521.00 and gave the company a “market perform” rating in a research note on Thursday, November 13th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $518.95.

Deere & 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.