106 Shares in Deere & Company (NYSE:DE) Bought by Horizons Wealth Management

Horizons Wealth Management acquired a new position in shares of Deere & Company (NYSE:DE) during the second quarter, HoldingsChannel reports. The firm acquired 106 shares of the industrial products company’s stock, valued at approximately $43,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Providence Capital Advisors LLC lifted its stake in Deere & Company by 41,880.9% in the 1st quarter. Providence Capital Advisors LLC now owns 5,703,524 shares of the industrial products company’s stock valued at $13,814,000 after purchasing an additional 5,689,938 shares during the last quarter. Moneta Group Investment Advisors LLC boosted its position in Deere & Company by 104,373.8% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 3,219,883 shares of the industrial products company’s stock worth $1,380,557,000 after purchasing an additional 3,216,801 shares during the period. Norges Bank bought a new position in Deere & Company during the fourth quarter worth $1,326,177,000. Morgan Stanley boosted its position in Deere & Company by 13.8% during the fourth quarter. Morgan Stanley now owns 4,576,183 shares of the industrial products company’s stock worth $1,962,085,000 after purchasing an additional 554,133 shares during the period. Finally, Envestnet Asset Management Inc. boosted its position in Deere & Company by 295.2% during the first quarter. Envestnet Asset Management Inc. now owns 695,791 shares of the industrial products company’s stock worth $78,113,000 after purchasing an additional 519,711 shares during the period. Institutional investors own 66.27% of the company’s stock.

Insider Activity at Deere & Company

In other Deere & Company news, CEO John C. May II sold 52,967 shares of the company’s stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $416.02, for a total value of $22,035,331.34. Following the completion of the transaction, the chief executive officer now directly owns 109,126 shares in the company, valued at approximately $45,398,598.52. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider Cory J. Reed sold 4,680 shares of the company’s stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $449.75, for a total value of $2,104,830.00. Following the sale, the insider now directly owns 36,563 shares of the company’s stock, valued at approximately $16,444,209.25. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO John C. May II sold 52,967 shares of the company’s stock in a transaction on Thursday, June 22nd. The shares were sold at an average price of $416.02, for a total transaction of $22,035,331.34. Following the completion of the sale, the chief executive officer now directly owns 109,126 shares in the company, valued at $45,398,598.52. The disclosure for this sale can be found here. 0.26% of the stock is owned by company insiders.

Analyst Ratings Changes

DE has been the topic of several research reports. Stifel Nicolaus decreased their target price on Deere & Company from $493.00 to $460.00 and set a “buy” rating on the stock in a research report on Monday, August 21st. Credit Suisse Group decreased their target price on Deere & Company from $560.00 to $551.00 and set an “outperform” rating on the stock in a research report on Monday, August 21st. Canaccord Genuity Group assumed coverage on shares of Deere & Company in a research report on Wednesday, June 28th. They set a “buy” rating and a $530.00 price target on the stock. Robert W. Baird lowered their price target on shares of Deere & Company from $512.00 to $445.00 in a research report on Monday, May 22nd. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Deere & Company from $398.00 to $407.00 and gave the stock a “hold” rating in a research report on Monday, August 21st. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $458.53.

Deere & Company Stock Performance

NYSE:DE opened at $409.70 on Thursday. The stock’s 50-day simple moving average is $417.51 and its 200 day simple moving average is $399.11. The firm has a market capitalization of $117.99 billion, a PE ratio of 11.89, a price-to-earnings-growth ratio of 0.93 and a beta of 1.07. The company has a quick ratio of 1.74, a current ratio of 1.98 and a debt-to-equity ratio of 1.65. Deere & Company has a twelve month low of $328.62 and a twelve month high of $450.00.

Deere & Company (NYSE:DE) last posted its earnings results on Friday, August 18th. The industrial products company reported $10.20 earnings per share for the quarter, topping analysts’ consensus estimates of $8.22 by $1.98. The firm had revenue of $14.28 billion for the quarter, compared to analysts’ expectations of $14.14 billion. Deere & Company had a net margin of 16.36% and a return on equity of 46.15%. The company’s revenue was up 9.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $6.16 earnings per share. On average, analysts anticipate that Deere & Company will post 33.9 EPS for the current fiscal year.

Deere & Company Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 8th. Stockholders of record on Friday, September 29th will be paid a $1.35 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $5.40 annualized dividend and a dividend yield of 1.32%. This is an increase from Deere & Company’s previous quarterly dividend of $1.25. Deere & Company’s dividend payout ratio is currently 15.96%.

About Deere & Company

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.