Moran Wealth Management LLC cut its holdings in shares of Deere & Company (NYSE:DE – Free Report) by 1.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 56,175 shares of the industrial products company’s stock after selling 989 shares during the period. Deere & Company accounts for approximately 0.9% of Moran Wealth Management LLC’s holdings, making the stock its 26th biggest holding. Moran Wealth Management LLC’s holdings in Deere & Company were worth $22,762,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in the business. Bank Julius Baer & Co. Ltd Zurich lifted its position in Deere & Company by 98,818.3% during the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 15,922,881 shares of the industrial products company’s stock valued at $6,451,792,000 after purchasing an additional 15,906,784 shares during the period. Providence Capital Advisors LLC raised its position in shares of Deere & Company by 41,880.9% in the 1st quarter. Providence Capital Advisors LLC now owns 5,703,524 shares of the industrial products company’s stock valued at $13,814,000 after acquiring an additional 5,689,938 shares during the period. Geode Capital Management LLC raised its position in shares of Deere & Company by 0.3% in the 1st quarter. Geode Capital Management LLC now owns 4,807,126 shares of the industrial products company’s stock valued at $1,979,416,000 after acquiring an additional 14,732 shares during the period. Morgan Stanley grew its stake in shares of Deere & Company by 13.8% during the 4th quarter. Morgan Stanley now owns 4,576,183 shares of the industrial products company’s stock worth $1,962,085,000 after acquiring an additional 554,133 shares in the last quarter. Finally, FMR LLC grew its stake in shares of Deere & Company by 9.5% during the 1st quarter. FMR LLC now owns 4,393,214 shares of the industrial products company’s stock worth $1,813,871,000 after acquiring an additional 381,506 shares in the last quarter. 66.27% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
In related news, insider Ryan D. Campbell sold 6,073 shares of the firm’s stock in a transaction on Monday, October 2nd. The stock was 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 in the company, valued at $7,022,219.61. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.26% of the stock is owned by company insiders.
Deere & Company Price Performance
Deere & Company (NYSE:DE – Get Free Report) last issued its quarterly earnings results 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 company had revenue of $14.28 billion for the quarter, compared to analysts’ expectations of $14.14 billion. During the same quarter last year, the business earned $6.16 earnings per share. Deere & Company’s revenue was up 9.9% on a year-over-year basis. On average, research analysts predict that Deere & Company will post 33.89 earnings per share for the current fiscal year.
Deere & Company Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, November 8th. Investors of record on Friday, September 29th were given a $1.35 dividend. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.41%. This is a boost from Deere & Company’s previous quarterly dividend of $1.25. Deere & Company’s dividend payout ratio (DPR) is presently 15.96%.
Wall Street Analysts Forecast Growth
Several research firms recently weighed in on DE. Canaccord Genuity Group reissued a “hold” rating and issued a $400.00 target price (down from $530.00) on shares of Deere & Company in a research note on Friday, September 22nd. Stifel Nicolaus decreased their target price 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. StockNews.com began coverage on Deere & Company in a report on Thursday, October 5th. They set a “hold” rating for the company. Deutsche Bank Aktiengesellschaft raised their price target on Deere & Company from $398.00 to $407.00 and gave the company a “hold” rating in a report on Monday, August 21st. Finally, Credit Suisse Group cut their price target on Deere & Company from $560.00 to $551.00 and set an “outperform” rating for the company in a report on Monday, August 21st. Eight equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $447.93.
Deere & 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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