Providence Capital Advisors LLC Has $5.25 Million Stock Position in Deere & Company (NYSE:DE)

Providence Capital Advisors LLC lifted its position in Deere & Company (NYSE:DE) by 1.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,046 shares of the industrial products company’s stock after buying an additional 157 shares during the quarter. Providence Capital Advisors LLC’s holdings in Deere & Company were worth $5,248,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Gilbert & Cook Inc. raised its stake in Deere & Company by 5.4% during the 4th quarter. Gilbert & Cook Inc. now owns 1,978 shares of the industrial products company’s stock valued at $791,000 after purchasing an additional 102 shares during the last quarter. 9258 Wealth Management LLC raised its stake in Deere & Company by 9.8% during the 4th quarter. 9258 Wealth Management LLC now owns 1,975 shares of the industrial products company’s stock valued at $790,000 after purchasing an additional 176 shares during the last quarter. Gryphon Financial Partners LLC raised its stake in Deere & Company by 62.9% during the 4th quarter. Gryphon Financial Partners LLC now owns 1,430 shares of the industrial products company’s stock valued at $551,000 after purchasing an additional 552 shares during the last quarter. Congress Wealth Management LLC DE raised its stake in Deere & Company by 2.6% during the 4th quarter. Congress Wealth Management LLC DE now owns 5,309 shares of the industrial products company’s stock valued at $2,123,000 after purchasing an additional 136 shares during the last quarter. Finally, Hilltop Holdings Inc. raised its stake in Deere & Company by 20.5% during the 4th quarter. Hilltop Holdings Inc. now owns 2,702 shares of the industrial products company’s stock valued at $1,080,000 after purchasing an additional 460 shares during the last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently commented on DE. Deutsche Bank Aktiengesellschaft cut their target price on shares of Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a research note on Thursday, August 8th. Truist Financial restated a “buy” rating and issued a $443.00 price objective (up previously from $439.00) on shares of Deere & Company in a research note on Friday, August 16th. HSBC cut shares of Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday, August 19th. Oppenheimer dropped their price objective on shares of Deere & Company from $465.00 to $448.00 and set an “outperform” rating for the company in a research note on Monday, July 22nd. Finally, Morgan Stanley dropped their price objective on shares of Deere & Company from $450.00 to $425.00 and set an “overweight” rating for the company in a research note on Monday, August 26th. Thirteen investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Deere & Company presently has an average rating of “Hold” and an average target price of $410.50.

Deere & Company Stock Up 0.7 %

Shares of NYSE:DE opened at $408.83 on Tuesday. Deere & Company has a 12 month low of $340.20 and a 12 month high of $417.46. The company’s 50-day moving average price is $376.98 and its two-hundred day moving average price is $383.12. The company has a quick ratio of 1.87, a current ratio of 2.07 and a debt-to-equity ratio of 1.85. The firm has a market cap of $112.66 billion, a P/E ratio of 12.31, a P/E/G ratio of 1.29 and a beta of 0.92.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, topping analysts’ consensus estimates of $5.63 by $0.66. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The firm had revenue of $11.39 billion for the quarter, compared to analyst estimates of $10.94 billion. During the same quarter in the prior year, the firm earned $10.20 EPS. The company’s revenue was down 20.3% on a year-over-year basis. As a group, research analysts forecast that Deere & Company will post 25.07 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Monday, September 30th will be paid a $1.47 dividend. This represents a $5.88 annualized dividend and a dividend yield of 1.44%. The ex-dividend date is Monday, September 30th. Deere & Company’s dividend payout ratio (DPR) is presently 17.70%.

Deere & Company 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.