Romano Brothers AND Company Trims Stock Holdings in Deere & Company (NYSE:DE)

Romano Brothers AND Company trimmed its position in Deere & Company (NYSE:DE) by 1.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,469 shares of the industrial products company’s stock after selling 98 shares during the period. Romano Brothers AND Company’s holdings in Deere & Company were worth $3,837,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in DE. ETF Managers Group LLC increased its holdings in shares of Deere & Company by 1.5% in the first quarter. ETF Managers Group LLC now owns 1,746 shares of the industrial products company’s stock valued at $721,000 after purchasing an additional 26 shares during the period. St. Johns Investment Management Company LLC increased its holdings in shares of Deere & Company by 1.0% in the fourth quarter. St. Johns Investment Management Company LLC now owns 2,655 shares of the industrial products company’s stock valued at $1,138,000 after purchasing an additional 27 shares during the period. Liberty One Investment Management LLC increased its holdings in shares of Deere & Company by 0.5% in the fourth quarter. Liberty One Investment Management LLC now owns 6,016 shares of the industrial products company’s stock valued at $2,579,000 after purchasing an additional 27 shares during the period. Wedge Capital Management L L P NC increased its holdings in shares of Deere & Company by 5.3% in the first quarter. Wedge Capital Management L L P NC now owns 537 shares of the industrial products company’s stock valued at $222,000 after purchasing an additional 27 shares during the period. Finally, All Season Financial Advisors Inc. increased its holdings in shares of Deere & Company by 3.4% in the first quarter. All Season Financial Advisors Inc. now owns 860 shares of the industrial products company’s stock valued at $355,000 after purchasing an additional 28 shares during the period. 66.27% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Deere & Company

In other Deere & Company news, insider Cory J. Reed sold 4,680 shares of Deere & Company stock in a transaction 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 owns 36,563 shares in the company, valued at $16,444,209.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO John C. May II sold 52,967 shares of Deere & Company stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 109,126 shares of the company’s stock, valued at $45,398,598.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Cory J. Reed sold 4,680 shares of Deere & Company 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 completion of the sale, 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. Company insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Deutsche Bank Aktiengesellschaft raised their target price on Deere & Company from $398.00 to $407.00 and gave the stock a “hold” rating in a report on Monday, August 21st. Oppenheimer dropped their target price on Deere & Company from $467.00 to $458.00 and set an “outperform” rating on the stock in a report on Monday, August 21st. StockNews.com assumed coverage on Deere & Company in a report on Thursday, August 17th. They set a “hold” rating on the stock. BMO Capital Markets dropped their target price on Deere & Company from $450.00 to $425.00 in a report on Monday, June 5th. Finally, Stifel Nicolaus dropped their target price on Deere & Company from $493.00 to $460.00 and set a “buy” rating on the stock in a report on Monday, August 21st. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Deere & Company presently has a consensus rating of “Moderate Buy” and a consensus price target of $459.90.

Deere & Company Trading Down 2.6 %

Deere & Company stock traded down $10.70 during trading on Tuesday, reaching $400.14. 925,453 shares of the company were exchanged, compared to its average volume of 1,596,646. Deere & Company has a 52-week low of $328.62 and a 52-week high of $450.00. The company has a market capitalization of $115.24 billion, a P/E ratio of 12.14, a PEG ratio of 0.93 and a beta of 1.07. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.98 and a quick ratio of 1.74. The stock’s 50 day simple moving average is $417.81 and its two-hundred day simple moving average is $398.87.

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, topping analysts’ consensus estimates of $8.22 by $1.98. Deere & Company had a return on equity of 46.15% and a net margin of 16.36%. The firm had revenue of $14.28 billion for the quarter, compared to the consensus estimate of $14.14 billion. During the same quarter last year, the business posted $6.16 earnings per share. The firm’s revenue was up 9.9% compared to the same quarter last year. On average, equities research analysts expect that Deere & Company will post 33.9 earnings per share for the current fiscal year.

Deere & Company Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 8th. Shareholders of record on Friday, September 29th will be given a $1.35 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $5.40 dividend on an annualized basis and a yield of 1.35%. This is an increase from Deere & Company’s previous quarterly dividend of $1.25. Deere & Company’s payout ratio is currently 14.78%.

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.