Chicago Partners Investment Group LLC cut its holdings in Deere & Company (NYSE:DE – Get Rating) by 4.4% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 849 shares of the industrial products company’s stock after selling 39 shares during the quarter. Chicago Partners Investment Group LLC’s holdings in Deere & Company were worth $313,000 at the end of the most recent reporting period.
Several other institutional investors have also recently bought and sold shares of DE. Nauset Wealth Management. LLC bought a new stake in Deere & Company during the 1st quarter worth $29,000. Bank of New Hampshire acquired a new position in shares of Deere & Company in the first quarter valued at approximately $30,000. Worth Asset Management LLC bought a new position in Deere & Company in the 1st quarter valued at approximately $28,000. Bell Investment Advisors Inc boosted its position in Deere & Company by 120.0% during the 4th quarter. Bell Investment Advisors Inc now owns 88 shares of the industrial products company’s stock worth $30,000 after buying an additional 48 shares during the period. Finally, Mine & Arao Wealth Creation & Management LLC. increased its position in Deere & Company by 614.3% in the 1st quarter. Mine & Arao Wealth Creation & Management LLC. now owns 100 shares of the industrial products company’s stock valued at $42,000 after acquiring an additional 86 shares during the period. Institutional investors and hedge funds own 75.34% of the company’s stock.
Analyst Upgrades and Downgrades
DE has been the subject of a number of recent research reports. Wells Fargo & Company increased their price objective on Deere & Company from $410.00 to $423.00 and gave the company an “overweight” rating in a report on Monday, August 22nd. Cowen dropped their target price on shares of Deere & Company from $396.00 to $342.00 in a report on Thursday, July 7th. Morgan Stanley raised their target price on Deere & Company from $416.00 to $424.00 and gave the stock an “overweight” rating in a research note on Sunday, August 21st. Barclays dropped their price target on Deere & Company from $415.00 to $400.00 and set an “overweight” rating on the stock in a research note on Monday, May 23rd. Finally, Evercore ISI lifted their price objective on shares of Deere & Company from $416.00 to $439.00 in a research note on Monday, August 22nd. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $407.68.
Deere & Company Price Performance
Deere & Company (NYSE:DE – Get Rating) last issued its quarterly earnings results on Friday, August 19th. The industrial products company reported $6.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.61 by ($0.45). Deere & Company had a return on equity of 33.26% and a net margin of 12.75%. The company had revenue of $13 billion for the quarter, compared to analysts’ expectations of $12.84 billion. During the same quarter in the previous year, the business earned $5.32 EPS. The company’s revenue for the quarter was up 24.8% on a year-over-year basis. On average, research analysts expect that Deere & Company will post 22.94 EPS for the current year.
Deere & Company Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 8th. Investors of record on Friday, September 30th will be issued a $1.13 dividend. This represents a $4.52 annualized dividend and a yield of 1.26%. The ex-dividend date is Thursday, September 29th. Deere & Company’s dividend payout ratio (DPR) is currently 22.59%.
Insider Activity at Deere & Company
In other news, CAO Marc A. Howze sold 4,019 shares of the business’s stock in a transaction that occurred on Friday, September 9th. The shares were sold at an average price of $373.22, for a total value of $1,499,971.18. Following the sale, the chief accounting officer now owns 17,321 shares of the company’s stock, valued at $6,464,543.62. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.24% of the stock is currently owned by company insiders.
Deere & Company Company Profile
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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