Deere & Company (NYSE:DE) Stock Position Increased by US Bancorp DE

US Bancorp DE boosted its position in Deere & Company (NYSE:DE) by 3.0% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 270,593 shares of the industrial products company’s stock after purchasing an additional 7,785 shares during the quarter. US Bancorp DE owned about 0.09% of Deere & Company worth $109,642,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of DE. University of Texas Texas AM Investment Managment Co. lifted its position in Deere & Company by 1,475.0% in the 1st 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 purchasing an additional 59 shares during the last quarter. Fiduciary Alliance LLC bought a new stake in Deere & Company in the 2nd quarter valued at about $27,000. Worth Asset Management LLC bought a new stake in Deere & Company in the 1st quarter valued at about $28,000. Barrett & Company Inc. bought a new stake in Deere & Company in the 1st quarter valued at about $31,000. Finally, 25 LLC bought a new stake in Deere & Company in the 1st quarter valued at about $34,000. 66.27% of the stock is currently owned by institutional investors.

Deere & Company Trading Down 0.3 %

Shares of DE stock traded down $1.00 during trading hours on Thursday, reaching $379.87. 318,457 shares of the stock traded hands, compared to its average volume of 1,547,001. The company has a quick ratio of 1.74, a current ratio of 1.98 and a debt-to-equity ratio of 1.65. The firm has a market capitalization of $109.40 billion, a PE ratio of 11.26, a PEG ratio of 0.93 and a beta of 1.07. Deere & Company has a 1-year low of $345.55 and a 1-year high of $450.00. The business has a fifty day moving average price of $383.00 and a 200 day moving average price of $394.25.

Deere & Company (NYSE:DE) last posted its earnings results on Friday, August 18th. The industrial products company reported $10.20 EPS for the quarter, topping the consensus estimate of $8.22 by $1.98. The company had revenue of $14.28 billion during the quarter, compared to the consensus estimate of $14.14 billion. Deere & Company had a net margin of 16.36% and a return on equity of 46.15%. The company’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $6.16 earnings per share. On average, equities research analysts forecast that Deere & Company will post 33.96 EPS for the current year.

Deere & Company Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 8th. Stockholders of record on Friday, September 29th were issued a $1.35 dividend. This is a positive change from Deere & Company’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $5.40 annualized dividend and a dividend yield of 1.42%. Deere & Company’s dividend payout ratio is presently 15.96%.

Insider Transactions at Deere & Company

In other news, insider Ryan D. Campbell sold 6,073 shares of the firm’s stock in a transaction dated 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 transaction, the insider now owns 18,519 shares of the company’s stock, valued at approximately $7,022,219.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.26% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages recently weighed in on DE. UBS Group lifted their price objective on shares of Deere & Company from $383.00 to $408.00 and gave the company a “neutral” rating in a research report on Monday, August 21st. Deutsche Bank Aktiengesellschaft raised their target price on shares of Deere & Company from $398.00 to $407.00 and gave the company a “hold” rating in a research note on Monday, August 21st. Oppenheimer lowered 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. Bank of America lowered their target price on shares of Deere & Company from $455.00 to $422.50 in a research note on Wednesday, October 11th. Finally, StockNews.com began coverage on shares of Deere & Company in a research note on Thursday, October 5th. They set a “hold” rating on the stock. Eight research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average 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.