Monumental Financial Group Inc. Invests $1.04 Million in Deere & Company (NYSE:DE)

Monumental Financial Group Inc. bought a new position in Deere & Company (NYSE:DE) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 2,569 shares of the industrial products company’s stock, valued at approximately $1,041,000.

Several other hedge funds also recently made changes to their positions in the company. Providence Capital Advisors LLC increased its holdings in shares of 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 in the last quarter. Geode Capital Management LLC increased its holdings in shares of Deere & Company by 0.3% in the 1st quarter. Geode Capital Management LLC now owns 4,807,126 shares of the industrial products company’s stock valued at $1,979,416,000 after purchasing an additional 14,732 shares in the last quarter. Morgan Stanley increased its holdings in shares of Deere & Company by 13.8% in the 4th quarter. Morgan Stanley now owns 4,576,183 shares of the industrial products company’s stock valued at $1,962,085,000 after purchasing an additional 554,133 shares in the last quarter. FMR LLC increased its holdings in shares of Deere & Company by 9.5% in the 1st quarter. FMR LLC now owns 4,393,214 shares of the industrial products company’s stock valued at $1,813,871,000 after purchasing an additional 381,506 shares in the last quarter. Finally, Moneta Group Investment Advisors LLC increased its holdings in shares of Deere & Company by 104,373.8% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 3,219,883 shares of the industrial products company’s stock valued at $1,380,557,000 after purchasing an additional 3,216,801 shares in the last quarter. Institutional investors and hedge funds own 66.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on DE. JPMorgan Chase & Co. dropped their target price on shares of Deere & Company from $390.00 to $380.00 and set a “neutral” rating for the company in a report on Monday, August 21st. HSBC began coverage on shares of Deere & Company in a report on Friday. They set a “buy” rating and a $486.00 target price for the company. BMO Capital Markets dropped their target price on shares of Deere & Company from $450.00 to $425.00 in a report on Monday, June 5th. Canaccord Genuity Group started coverage on shares of Deere & Company in a report on Wednesday, June 28th. They set a “buy” rating and a $530.00 price target for the company. Finally, StockNews.com started coverage on shares of Deere & Company in a report on Thursday, August 17th. They set a “hold” rating for the company. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, Deere & Company has a consensus rating of “Moderate Buy” and an average target price of $459.90.

Deere & Company Stock Down 0.1 %

Shares of NYSE:DE opened at $411.80 on Monday. The stock has a market capitalization of $118.60 billion, a price-to-earnings ratio of 12.18, a price-to-earnings-growth ratio of 0.91 and a beta of 1.07. Deere & Company has a 1-year low of $328.62 and a 1-year high of $450.00. The company’s fifty day moving average is $417.81 and its two-hundred day moving average is $398.87. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.74 and a current ratio of 1.98.

Deere & Company (NYSE:DE) last released its quarterly earnings data 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. Deere & Company had a net margin of 16.36% and a return on equity of 46.15%. The business had revenue of $14.28 billion for the quarter, compared to analysts’ expectations of $14.14 billion. During the same quarter last year, the company earned $6.16 EPS. The company’s revenue for the quarter was up 9.9% compared to the same quarter last year. Equities analysts anticipate that Deere & Company will post 33.9 EPS for the current year.

Deere & Company Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 8th. Investors of record on Friday, September 29th will be given a $1.35 dividend. 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. This is a positive change from Deere & Company’s previous quarterly dividend of $1.25. Deere & Company’s dividend payout ratio is currently 15.96%.

Insider Activity

In other news, insider Cory J. Reed sold 4,680 shares of the firm’s stock in a transaction dated 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 owns 36,563 shares in the company, valued at approximately $16,444,209.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Deere & Company news, insider Cory J. Reed sold 4,680 shares of the company’s stock in a transaction dated 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 sale, the insider now directly 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. Also, CEO John C. May II sold 52,967 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 109,126 shares of the company’s stock, valued at $45,398,598.52. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.

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.