Brookstone Capital Management increased its holdings in shares of Deere & Company (NYSE:DE – Get Rating) by 8.7% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 8,162 shares of the industrial products company’s stock after acquiring an additional 654 shares during the period. Brookstone Capital Management’s holdings in Deere & Company were worth $3,416,000 as of its most recent SEC filing.
Several other large investors have also bought and sold shares of DE. Bell Investment Advisors Inc grew its position in shares of Deere & Company by 120.0% during the 4th quarter. Bell Investment Advisors Inc now owns 88 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 48 shares during the period. First National Bank of South Miami acquired a new stake in Deere & Company in the 4th quarter worth about $34,000. Amplius Wealth Advisors LLC acquired a new stake in Deere & Company in the 4th quarter worth about $34,000. Crewe Advisors LLC boosted its holdings in Deere & Company by 3,233.3% in the 4th quarter. Crewe Advisors LLC now owns 100 shares of the industrial products company’s stock worth $34,000 after buying an additional 97 shares during the last quarter. Finally, Sierra Capital LLC boosted its holdings in Deere & Company by 183.3% in the 4th quarter. Sierra Capital LLC now owns 102 shares of the industrial products company’s stock worth $35,000 after buying an additional 66 shares during the last quarter. Hedge funds and other institutional investors own 67.35% of the company’s stock.
Several research firms recently issued reports on DE. Wells Fargo & Company lowered their price objective on Deere & Company from $455.00 to $410.00 and set an “overweight” rating on the stock in a report on Monday, May 23rd. Barclays lowered their price objective on Deere & Company from $415.00 to $400.00 and set an “overweight” rating on the stock in a report on Monday, May 23rd. StockNews.com began coverage on Deere & Company in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Bank of America cut Deere & Company from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $475.00 to $450.00 in a report on Monday, April 25th. Finally, Morgan Stanley lowered their target price on Deere & Company from $485.00 to $452.00 and set an “overweight” rating on the stock in a report on Monday, May 23rd. Seven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $429.06.
Deere & Company (NYSE:DE – Get Rating) last released its quarterly earnings results on Friday, May 20th. The industrial products company reported $6.81 EPS for the quarter, beating the consensus estimate of $6.71 by $0.10. The firm had revenue of $12.03 billion for the quarter, compared to analyst estimates of $13.16 billion. Deere & Company had a net margin of 12.99% and a return on equity of 33.58%. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $5.68 EPS. Equities research analysts predict that Deere & Company will post 23.27 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, August 8th. Stockholders of record on Thursday, June 30th will be given a dividend of $1.13 per share. This represents a $4.52 annualized dividend and a dividend yield of 1.42%. The ex-dividend date is Wednesday, June 29th. This is a positive change from Deere & Company’s previous quarterly dividend of $1.05. Deere & Company’s payout ratio is presently 21.91%.
In other Deere & Company news, insider John H. Stone sold 17,145 shares of the business’s stock in a transaction that occurred on Thursday, May 26th. The stock was sold at an average price of $4,321.07, for a total value of $74,084,745.15. Following the sale, the insider now owns 21,087 shares of the company’s stock, valued at $91,118,403.09. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.24% of the stock is owned by insiders.
Deere & Company Profile (Get Rating)
Deere & Company manufactures and distributes 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 mid-size tractors, combines, cotton pickers and strippers, sugarcane harvesters, harvesting front-end equipment, sugarcane loaders, 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.
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