Beese Fulmer Investment Management Inc. Sells 177 Shares of Deere & Company (NYSE:DE)

Beese Fulmer Investment Management Inc. lessened its stake in shares of Deere & Company (NYSE:DE) by 1.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,417 shares of the industrial products company’s stock after selling 177 shares during the quarter. Beese Fulmer Investment Management Inc.’s holdings in Deere & Company were worth $3,816,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. University of Texas Texas AM Investment Managment Co. raised its holdings in shares of Deere & Company by 1,475.0% in the 1st quarter. University of Texas Texas AM Investment Managment Co. now owns 63 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 59 shares during the last quarter. Worth Asset Management LLC acquired a new stake in shares of Deere & Company in the 1st quarter worth about $28,000. Lansing Street Advisors raised its holdings in shares of Deere & Company by 1,725.0% in the 1st quarter. Lansing Street Advisors now owns 73 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 69 shares during the last quarter. Barrett & Company Inc. acquired a new stake in shares of Deere & Company in the 1st quarter worth about $31,000. Finally, 25 LLC acquired a new stake in shares of Deere & Company in the 1st quarter worth about $34,000. Institutional investors own 66.27% of the company’s stock.

Deere & Company Stock Performance

DE traded up $0.43 on Friday, hitting $412.11. The company’s stock had a trading volume of 1,986,245 shares, compared to its average volume of 1,604,095. The company’s 50 day simple moving average is $417.81 and its 200-day simple moving average is $399.02. The firm has a market cap of $118.69 billion, a P/E ratio of 12.18, a price-to-earnings-growth ratio of 0.91 and a beta of 1.07. Deere & Company has a 12 month low of $328.62 and a 12 month high of $450.00. 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 (NYSE:DE) last released its quarterly earnings data on Friday, August 18th. The industrial products company reported $10.20 EPS for the quarter, topping the consensus estimate of $8.22 by $1.98. The company had revenue of $14.28 billion during the quarter, compared to the consensus estimate of $14.14 billion. Deere & Company had a net margin of 16.36% and a return on equity of 46.15%. Deere & Company’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same period last year, the firm earned $6.16 EPS. Analysts forecast that Deere & Company will post 33.9 EPS for the current year.

Deere & Company Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 8th. Shareholders of record on Friday, September 29th will be issued a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 1.31%. This is an increase from Deere & Company’s previous quarterly dividend of $1.25. The ex-dividend date is Thursday, September 28th. Deere & Company’s dividend payout ratio (DPR) is presently 15.96%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on DE shares. Credit Suisse Group lowered their target price on shares of Deere & Company from $560.00 to $551.00 and set an “outperform” rating on the stock in a report on Monday, August 21st. DA Davidson increased their price objective on shares of Deere & Company from $492.00 to $510.00 and gave the company a “buy” rating in a research note on Tuesday, July 25th. HSBC began coverage on shares of Deere & Company in a research note on Friday. They issued a “buy” rating and a $486.00 price objective for the company. UBS Group increased their price objective on shares of Deere & Company from $383.00 to $408.00 and gave the company a “neutral” rating in a research note on Monday, August 21st. Finally, Citigroup increased their price objective on shares of Deere & Company from $460.00 to $475.00 and gave the company a “buy” rating in a research note on Tuesday, July 18th. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $459.90.

Insider Buying and Selling at Deere & Company

In other Deere & Company news, CEO John C. May II sold 52,967 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at approximately $45,398,598.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Deere & Company news, CEO John C. May II sold 52,967 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at approximately $45,398,598.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Cory J. Reed sold 4,680 shares of the firm’s stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $449.75, for a total transaction of $2,104,830.00. Following the completion of the transaction, the insider now directly owns 36,563 shares of the company’s stock, valued at $16,444,209.25. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.

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.