Charles Schwab Investment Management Inc. Raises Position in Deere & Company (NYSE:DE)

Charles Schwab Investment Management Inc. increased its holdings in Deere & Company (NYSE:DE) by 0.6% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,505,753 shares of the industrial products company’s stock after purchasing an additional 9,576 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.51% of Deere & Company worth $610,116,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Telos Capital Management Inc. boosted its stake in shares of Deere & Company by 1.7% during the 2nd quarter. Telos Capital Management Inc. now owns 2,670 shares of the industrial products company’s stock valued at $1,082,000 after purchasing an additional 44 shares in the last quarter. Hodges Capital Management Inc. boosted its stake in shares of Deere & Company by 4.0% during the 2nd quarter. Hodges Capital Management Inc. now owns 8,895 shares of the industrial products company’s stock valued at $5,225,000 after purchasing an additional 341 shares in the last quarter. Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD bought a new stake in shares of Deere & Company during the 2nd quarter valued at about $3,277,000. Gratus Capital LLC boosted its stake in shares of Deere & Company by 4.1% during the 2nd quarter. Gratus Capital LLC now owns 2,982 shares of the industrial products company’s stock valued at $1,208,000 after purchasing an additional 117 shares in the last quarter. Finally, Picton Mahoney Asset Management boosted its stake in shares of Deere & Company by 3.2% during the 2nd quarter. Picton Mahoney Asset Management now owns 43,656 shares of the industrial products company’s stock valued at $17,690,000 after purchasing an additional 1,355 shares in the last quarter. Hedge funds and other institutional investors own 66.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Oppenheimer cut their target price on shares of Deere & Company from $467.00 to $458.00 and set an “outperform” rating on the stock in a research note on Monday, August 21st. StockNews.com began coverage on shares of Deere & Company in a report on Thursday, October 5th. They issued a “hold” rating on the stock. Canaccord Genuity Group cut shares of Deere & Company from a “buy” rating to a “hold” rating and cut their price objective for the stock from $530.00 to $400.00 in a report on Friday, September 22nd. UBS Group upped their price objective on shares of Deere & Company from $383.00 to $408.00 and gave the stock a “neutral” rating in a report on Monday, August 21st. Finally, JPMorgan Chase & Co. cut their price objective on shares of Deere & Company from $390.00 to $380.00 and set a “neutral” rating on the stock in a report on Monday, August 21st. Eight equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, Deere & Company presently has a consensus rating of “Moderate Buy” and a consensus price target of $447.93.

Insider Transactions at Deere & Company

In other news, insider Ryan D. Campbell sold 6,073 shares of the stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $379.19, for a total value of $2,302,820.87. Following the completion of the sale, the insider now directly owns 18,519 shares of the company’s stock, valued at $7,022,219.61. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.26% of the company’s stock.

Deere & Company Stock Up 1.6 %

DE opened at $380.87 on Thursday. The company has a current ratio of 1.98, a quick ratio of 1.74 and a debt-to-equity ratio of 1.65. Deere & Company has a 1-year low of $345.55 and a 1-year high of $450.00. The company has a market capitalization of $109.69 billion, a PE ratio of 11.26, a PEG ratio of 0.93 and a beta of 1.07. The firm’s 50 day simple moving average is $383.00 and its two-hundred day simple moving average is $394.25.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Friday, August 18th. The industrial products company reported $10.20 earnings per share for the quarter, topping 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 business had revenue of $14.28 billion for the quarter, compared to the consensus estimate of $14.14 billion. During the same period last year, the firm earned $6.16 earnings per share. The company’s quarterly revenue was up 9.9% on a year-over-year basis. As a group, equities analysts forecast that Deere & Company will post 33.96 EPS 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 paid a $1.35 dividend. The ex-dividend date was Thursday, September 28th. This is a boost from Deere & Company’s previous quarterly dividend of $1.25. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.42%. Deere & Company’s dividend payout ratio is 15.96%.

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.