Legacy Bridge LLC Purchases 50 Shares of Deere & Company (NYSE:DE)

Legacy Bridge LLC boosted its position in Deere & Company (NYSE:DE) by 1.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,258 shares of the industrial products company’s stock after purchasing an additional 50 shares during the quarter. Deere & Company makes up 1.2% of Legacy Bridge LLC’s portfolio, making the stock its 15th biggest position. Legacy Bridge LLC’s holdings in Deere & Company were worth $1,725,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Atlantic Union Bankshares Corp increased its stake in shares of Deere & Company by 153.4% during the second quarter. Atlantic Union Bankshares Corp now owns 4,055 shares of the industrial products company’s stock valued at $1,643,000 after purchasing an additional 2,455 shares in the last quarter. Selective Wealth Management Inc. purchased a new position in Deere & Company in the second quarter worth about $220,000. Bard Financial Services Inc. lifted its stake in shares of Deere & Company by 10.3% in the second quarter. Bard Financial Services Inc. now owns 800 shares of the industrial products company’s stock worth $324,000 after buying an additional 75 shares in the last quarter. Mechanics Bank Trust Department grew its holdings in shares of Deere & Company by 62.1% during the second quarter. Mechanics Bank Trust Department now owns 1,005 shares of the industrial products company’s stock valued at $407,000 after buying an additional 385 shares during the last quarter. Finally, Sarasin & Partners LLP increased its position in shares of Deere & Company by 11.6% during the second quarter. Sarasin & Partners LLP now owns 655,421 shares of the industrial products company’s stock valued at $265,570,000 after acquiring an additional 68,083 shares in the last quarter. Hedge funds and other institutional investors own 66.27% of the company’s stock.

Insider Buying and Selling at Deere & Company

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

Analysts Set New Price Targets

A number of analysts have commented on the company. Oppenheimer reduced their target price on Deere & Company from $467.00 to $458.00 and set an “outperform” rating for the company in a report on Monday, August 21st. StockNews.com initiated coverage on shares of Deere & Company in a report on Thursday, August 17th. They set a “hold” rating on the stock. UBS Group boosted their price objective on shares of Deere & Company from $383.00 to $408.00 and gave the company a “neutral” rating in a report on Monday, August 21st. DA Davidson lifted their target price on shares of Deere & Company from $492.00 to $510.00 and gave the stock a “buy” rating in a research report on Tuesday, July 25th. Finally, Robert W. Baird lowered their price target on Deere & Company from $512.00 to $445.00 in a report on Monday, May 22nd. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $459.90.

Deere & Company Stock Up 0.1 %

Shares of DE stock opened at $412.11 on Monday. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.98 and a quick ratio of 1.74. Deere & Company has a one year low of $328.62 and a one year high of $450.00. The company’s fifty day moving average price is $417.81 and its 200-day moving average price is $398.87. The company has a market capitalization of $118.69 billion, a price-to-earnings ratio of 12.18, a PEG ratio of 0.91 and a beta of 1.07.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Friday, August 18th. The industrial products company reported $10.20 EPS for the quarter, beating the consensus estimate of $8.22 by $1.98. Deere & Company had a return on equity of 46.15% and a net margin of 16.36%. The business had revenue of $14.28 billion for the quarter, compared to the consensus estimate of $14.14 billion. During the same period in the previous year, the business earned $6.16 earnings per share. The business’s revenue was up 9.9% on a year-over-year basis. Sell-side analysts expect that Deere & Company will post 33.9 EPS for the current fiscal year.

Deere & Company Increases Dividend

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

Deere & 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.