Beck Bode LLC boosted its holdings in shares of Deere & Company (NYSE:DE – Free Report) by 23.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,492 shares of the industrial products company’s stock after acquiring an additional 281 shares during the quarter. Beck Bode LLC’s holdings in Deere & Company were worth $605,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of DE. RB Capital Management LLC lifted its holdings in shares of Deere & Company by 5.2% during the 1st quarter. RB Capital Management LLC now owns 1,637 shares of the industrial products company’s stock valued at $680,000 after buying an additional 81 shares during the last quarter. Bornite Capital Management LP acquired a new stake in shares of Deere & Company during the 1st quarter valued at about $14,541,000. Retirement Income Solutions Inc acquired a new stake in shares of Deere & Company during the 1st quarter valued at about $229,000. Sequoia Financial Advisors LLC lifted its holdings in shares of Deere & Company by 27.1% during the 1st quarter. Sequoia Financial Advisors LLC now owns 2,442 shares of the industrial products company’s stock valued at $1,014,000 after buying an additional 521 shares during the last quarter. Finally, Baird Financial Group Inc. lifted its holdings in shares of Deere & Company by 32.4% during the 1st quarter. Baird Financial Group Inc. now owns 114,322 shares of the industrial products company’s stock valued at $47,496,000 after buying an additional 27,985 shares during the last quarter. 66.27% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions at Deere & Company
In other news, insider Ryan D. Campbell sold 6,073 shares of the company’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $379.19, for a total transaction of $2,302,820.87. Following the completion of the transaction, the insider now directly owns 18,519 shares of the company’s stock, valued at $7,022,219.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.26% of the stock is owned by insiders.
Deere & Company Trading Down 0.3 %
Deere & Company (NYSE:DE – Get Free Report) last announced its quarterly earnings results on Friday, August 18th. The industrial products company reported $10.20 earnings per share (EPS) for the quarter, topping 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 company had revenue of $14.28 billion during the quarter, compared to the consensus estimate of $14.14 billion. During the same period in the prior year, the company earned $6.16 earnings per share. The company’s revenue for the quarter was up 9.9% compared to the same quarter last year. Equities analysts predict that Deere & Company will post 33.96 earnings per share for the current year.
Deere & Company Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 8th. Stockholders of record on Friday, September 29th were given a dividend of $1.35 per share. This is a boost from Deere & Company’s previous quarterly dividend of $1.25. This represents a $5.40 annualized dividend and a dividend yield of 1.42%. The ex-dividend date was Thursday, September 28th. Deere & Company’s dividend payout ratio is currently 15.96%.
Analyst Upgrades and Downgrades
A number of research analysts recently weighed in on DE shares. UBS Group raised their price objective on Deere & Company from $383.00 to $408.00 and gave the company a “neutral” rating in a research note on Monday, August 21st. Credit Suisse Group cut their price objective on Deere & Company from $560.00 to $551.00 and set an “outperform” rating on the stock in a research note on Monday, August 21st. Stifel Nicolaus dropped their price target on Deere & Company from $493.00 to $460.00 and set a “buy” rating on the stock in a research report on Monday, August 21st. Bank of America dropped their price target on Deere & Company from $455.00 to $422.50 in a research report on Wednesday, October 11th. Finally, HSBC initiated coverage on Deere & Company in a research report on Friday, September 15th. They set a “buy” rating and a $486.00 price objective on the stock. Eight equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $447.93.
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.
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