Kovack Advisors Inc. Has $415,000 Stake in Deere & Company (NYSE:DE)

Kovack Advisors Inc. raised its position in Deere & Company (NYSE:DE) by 46.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,010 shares of the industrial products company’s stock after acquiring an additional 318 shares during the quarter. Kovack Advisors Inc.’s holdings in Deere & Company were worth $415,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Royal London Asset Management Ltd. raised its stake in Deere & Company by 7.3% in the third quarter. Royal London Asset Management Ltd. now owns 133,226 shares of the industrial products company’s stock valued at $50,299,000 after buying an additional 9,030 shares during the period. Crestwood Advisors Group LLC bought a new stake in Deere & Company in the 3rd quarter valued at $961,000. The Manufacturers Life Insurance Company raised its stake in Deere & Company by 6.4% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 391,928 shares of the industrial products company’s stock valued at $147,906,000 after acquiring an additional 23,587 shares during the period. iA Global Asset Management Inc. lifted its holdings in Deere & Company by 109.7% during the 3rd quarter. iA Global Asset Management Inc. now owns 2,655 shares of the industrial products company’s stock valued at $1,002,000 after purchasing an additional 1,389 shares during the last quarter. Finally, Townsquare Capital LLC boosted its position in Deere & Company by 15.2% during the third quarter. Townsquare Capital LLC now owns 4,608 shares of the industrial products company’s stock worth $1,739,000 after purchasing an additional 607 shares during the period. Institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Down 0.6 %

Shares of DE opened at $362.79 on Friday. The firm has a 50 day simple moving average of $383.26 and a two-hundred day simple moving average of $386.78. The company has a market cap of $99.97 billion, a P/E ratio of 10.92, a P/E/G ratio of 1.46 and a beta of 0.93. Deere & Company has a one year low of $353.15 and a one year high of $450.00. 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 results on Thursday, May 16th. The industrial products company reported $8.53 EPS for the quarter, topping analysts’ consensus estimates of $7.86 by $0.67. The company had revenue of $13.61 billion during the quarter, compared to analysts’ expectations of $13.29 billion. Deere & Company had a return on equity of 42.26% and a net margin of 16.15%. Deere & Company’s revenue was down 15.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $9.65 EPS. Research analysts forecast that Deere & Company will post 25.59 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 8th. Stockholders of record on Friday, June 28th will be issued a $1.47 dividend. The ex-dividend date is Friday, June 28th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.62%. Deere & Company’s dividend payout ratio (DPR) is currently 17.70%.

Insider Activity

In related news, insider Cory J. Reed sold 13,370 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $377.63, for a total transaction of $5,048,913.10. Following the completion of the transaction, the insider now directly owns 41,642 shares in the company, valued at approximately $15,725,268.46. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.26% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Raymond James started coverage on shares of Deere & Company in a research note on Friday, June 28th. They set an “outperform” rating and a $420.00 target price for the company. Daiwa Capital Markets raised their price objective on shares of Deere & Company from $400.00 to $420.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 15th. Truist Financial decreased their target price on Deere & Company from $460.00 to $439.00 and set a “buy” rating on the stock in a research report on Tuesday. Oppenheimer reissued an “outperform” rating and set a $456.00 price target on shares of Deere & Company in a report on Thursday, May 16th. Finally, TD Cowen upped their price objective on Deere & Company from $383.00 to $390.00 and gave the company a “hold” rating in a report on Friday, May 17th. Eleven analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $427.66.

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.