Covestor Ltd Acquires 106 Shares of Deere & Company (NYSE:DE)

Covestor Ltd increased its holdings in Deere & Company (NYSE:DE) by 12.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 987 shares of the industrial products company’s stock after purchasing an additional 106 shares during the quarter. Deere & Company makes up 0.3% of Covestor Ltd’s investment portfolio, making the stock its 25th biggest holding. Covestor Ltd’s holdings in Deere & Company were worth $400,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Northwest Bancshares Inc. lifted its stake in shares of Deere & Company by 2.2% during the 2nd quarter. Northwest Bancshares Inc. now owns 1,082 shares of the industrial products company’s stock worth $438,000 after purchasing an additional 23 shares during the last quarter. Byrne Asset Management LLC boosted its holdings in shares of Deere & Company by 0.9% in the 2nd quarter. Byrne Asset Management LLC now owns 2,719 shares of the industrial products company’s stock valued at $1,102,000 after buying an additional 24 shares in the last quarter. REDW Wealth LLC lifted its position in Deere & Company by 2.3% during the second quarter. REDW Wealth LLC now owns 1,052 shares of the industrial products company’s stock valued at $426,000 after acquiring an additional 24 shares during the last quarter. Grandfield & Dodd LLC boosted its stake in Deere & Company by 1.7% in the second quarter. Grandfield & Dodd LLC now owns 1,453 shares of the industrial products company’s stock valued at $589,000 after acquiring an additional 24 shares in the last quarter. Finally, Summit X LLC grew its holdings in Deere & Company by 1.3% in the second quarter. Summit X LLC now owns 1,802 shares of the industrial products company’s stock worth $731,000 after purchasing an additional 24 shares during the last quarter. Institutional investors own 66.27% of the company’s stock.

Insider Activity at Deere & Company

In other Deere & Company news, insider Ryan D. Campbell sold 6,073 shares of Deere & Company stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $379.19, for a total transaction of $2,302,820.87. Following the completion of the sale, the insider now directly owns 18,519 shares in the company, valued at $7,022,219.61. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.26% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. UBS Group raised their price objective on Deere & Company from $383.00 to $408.00 and gave the stock a “neutral” rating in a research report on Monday, August 21st. Canaccord Genuity Group restated a “hold” rating and set a $400.00 price objective (down previously from $530.00) on shares of Deere & Company in a report on Friday, September 22nd. HSBC began coverage on shares of Deere & Company in a research note on Friday, September 15th. They issued a “buy” rating and a $486.00 target price for the company. Stifel Nicolaus decreased their price target on shares of Deere & Company from $493.00 to $460.00 and set a “buy” rating for the company in a report on Monday, August 21st. Finally, DA Davidson boosted their price objective on shares of Deere & Company from $492.00 to $510.00 and gave the company a “buy” rating in a report on Tuesday, July 25th. Eight investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, Deere & Company has an average rating of “Moderate Buy” and an average price target of $447.93.

Deere & Company Price Performance

DE traded down $0.17 during trading on Tuesday, hitting $380.16. The company’s stock had a trading volume of 793,735 shares, compared to its average volume of 1,552,166. The company has a current ratio of 1.98, a quick ratio of 1.74 and a debt-to-equity ratio of 1.65. The firm has a market capitalization of $109.49 billion, a price-to-earnings ratio of 11.24, a P/E/G ratio of 0.96 and a beta of 1.07. The business’s fifty day simple moving average is $381.63 and its 200 day simple moving average is $394.36. Deere & Company has a twelve month low of $345.55 and a twelve month high of $450.00.

Deere & Company (NYSE:DE) last issued its quarterly 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 firm had revenue of $14.28 billion during the quarter, compared to analysts’ expectations of $14.14 billion. Deere & Company had a return on equity of 46.15% and a net margin of 16.36%. The firm’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same period in the previous year, the business earned $6.16 earnings per share. On average, equities research analysts forecast that Deere & Company will post 33.89 EPS for the current fiscal year.

Deere & Company Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 8th. Investors 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. This represents a $5.40 annualized dividend and a yield of 1.42%. The ex-dividend date was Thursday, September 28th. Deere & Company’s payout ratio is 15.96%.

About Deere & Company

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.