Burns J W & Co. Inc. NY Acquires 1,140 Shares of Deere & Company (NYSE:DE)

Burns J W & Co. Inc. NY boosted its position in Deere & Company (NYSE:DE) by 6.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,869 shares of the industrial products company’s stock after purchasing an additional 1,140 shares during the period. Deere & Company makes up approximately 1.2% of Burns J W & Co. Inc. NY’s investment portfolio, making the stock its 21st biggest holding. Burns J W & Co. Inc. NY’s holdings in Deere & Company were worth $7,646,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. University of Texas Texas AM Investment Managment Co. raised its stake in shares of Deere & Company by 1,475.0% during the first quarter. University of Texas Texas AM Investment Managment Co. now owns 63 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 59 shares in the last quarter. Lansing Street Advisors boosted its holdings in shares of Deere & Company by 1,725.0% in the first quarter. Lansing Street Advisors now owns 73 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 69 shares during the period. Barrett & Company Inc. purchased a new stake in shares of Deere & Company in the first quarter valued at approximately $31,000. Worth Asset Management LLC purchased a new stake in shares of Deere & Company in the first quarter valued at approximately $28,000. Finally, 25 LLC purchased a new stake in shares of Deere & Company in the first quarter valued at approximately $34,000. Institutional investors own 66.27% of the company’s stock.

Insider Transactions at Deere & Company

In other news, insider Cory J. Reed sold 4,680 shares of the 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 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 filing with the SEC, which is available at this hyperlink. In other news, insider Cory J. Reed sold 4,680 shares of the 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 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 filing with the SEC, which is available at this hyperlink. Also, CEO John C. May II sold 52,967 shares of the company’s stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $416.02, for a total transaction of $22,035,331.34. Following the transaction, the chief executive officer now owns 109,126 shares of the company’s stock, valued at approximately $45,398,598.52. The disclosure for this sale can be found here. Corporate insiders own 0.26% of the company’s stock.

Deere & Company Price Performance

NYSE:DE opened at $410.77 on Tuesday. Deere & Company has a one year low of $328.62 and a one year high of $450.00. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.74 and a current ratio of 1.98. The firm has a market cap of $118.30 billion, a price-to-earnings ratio of 12.14, a PEG ratio of 0.93 and a beta of 1.07. The firm’s fifty day moving average is $417.81 and its two-hundred day moving average is $398.87.

Deere & Company (NYSE:DE) last posted its quarterly earnings results 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 net margin of 16.36% and a return on equity of 46.15%. The company had revenue of $14.28 billion for the quarter, compared to analyst estimates of $14.14 billion. During the same period in the prior year, the company earned $6.16 earnings per share. The firm’s revenue was up 9.9% on a year-over-year basis. Research analysts expect that Deere & Company will post 33.9 EPS for the current year.

Deere & Company Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 8th. Stockholders of record on Friday, September 29th will be paid 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 annualized dividend and a dividend yield of 1.31%. The ex-dividend date of this dividend is Thursday, September 28th. Deere & Company’s dividend payout ratio is presently 14.78%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on DE. JPMorgan Chase & Co. lowered their price target on Deere & Company from $390.00 to $380.00 and set a “neutral” rating for the company in a report on Monday, August 21st. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Deere & Company from $398.00 to $407.00 and gave the stock a “hold” rating in a research note on Monday, August 21st. Wells Fargo & Company reduced their price objective on shares of Deere & Company from $510.00 to $490.00 in a research note on Monday, May 22nd. Stifel Nicolaus reduced their price objective on shares of Deere & Company from $493.00 to $460.00 and set a “buy” rating for the company in a research note on Monday, August 21st. Finally, Citigroup boosted their price objective on shares of Deere & Company from $460.00 to $475.00 and gave the stock a “buy” rating in a research note on Tuesday, July 18th. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $459.90.

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.