Edgestream Partners L.P. raised its position in Deere & Company (NYSE:DE – Free Report) by 28.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,410 shares of the industrial products company’s stock after purchasing an additional 758 shares during the quarter. Edgestream Partners L.P.’s holdings in Deere & Company were worth $1,382,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in the stock. Oxford Financial Group Ltd. boosted its stake in shares of Deere & Company by 13.7% during the 2nd quarter. Oxford Financial Group Ltd. now owns 2,139 shares of the industrial products company’s stock worth $867,000 after acquiring an additional 258 shares in the last quarter. Personal CFO Solutions LLC lifted its position in shares of Deere & Company by 3.7% during the 2nd quarter. Personal CFO Solutions LLC now owns 1,008 shares of the industrial products company’s stock worth $408,000 after purchasing an additional 36 shares during the last quarter. Commonwealth Equity Services LLC lifted its position in shares of Deere & Company by 6.3% during the 2nd quarter. Commonwealth Equity Services LLC now owns 167,778 shares of the industrial products company’s stock worth $67,982,000 after purchasing an additional 9,870 shares during the last quarter. Legacy Capital Group California Inc. lifted its position in shares of Deere & Company by 2.9% during the 2nd quarter. Legacy Capital Group California Inc. now owns 2,474 shares of the industrial products company’s stock worth $1,002,000 after purchasing an additional 69 shares during the last quarter. Finally, AXS Investments LLC lifted its position in shares of Deere & Company by 13.3% during the 2nd quarter. AXS Investments LLC now owns 4,774 shares of the industrial products company’s stock worth $1,934,000 after purchasing an additional 562 shares during the last quarter. Institutional investors own 66.27% of the company’s stock.
Analyst Ratings Changes
Several equities analysts recently weighed in on the company. Credit Suisse Group cut their price objective on Deere & Company from $560.00 to $551.00 and set an “outperform” rating for the company in a research report on Monday, August 21st. HSBC started coverage on Deere & Company in a research report on Friday, September 15th. They set a “buy” rating and a $486.00 price objective for the company. Stifel Nicolaus cut their price target on Deere & Company from $493.00 to $460.00 and set a “buy” rating for the company in a report on Monday, August 21st. UBS Group upped their price target on Deere & Company from $383.00 to $408.00 and gave the company a “neutral” rating in a report on Monday, August 21st. Finally, StockNews.com assumed coverage on Deere & Company in a report on Thursday, October 5th. They issued a “hold” rating for the company. Eight research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $447.93.
Insider Transactions at Deere & Company
In other 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 directly owns 18,519 shares in the company, valued at approximately $7,022,219.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.26% of the stock is owned by corporate insiders.
Deere & Company Stock Down 1.0 %
Shares of DE opened at $380.33 on Tuesday. Deere & Company has a 52 week low of $345.55 and a 52 week high of $450.00. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.74 and a current ratio of 1.98. The firm has a market capitalization of $109.54 billion, a price-to-earnings ratio of 11.24, a PEG ratio of 0.96 and a beta of 1.07. The business’s fifty day moving average price is $381.63 and its two-hundred day moving average price is $394.36.
Deere & Company (NYSE:DE – Get Free Report) last posted 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 business had revenue of $14.28 billion for the quarter, compared to analyst estimates of $14.14 billion. During the same period last year, the company earned $6.16 EPS. The firm’s revenue was up 9.9% on a year-over-year basis. On average, analysts predict that Deere & Company will post 33.89 earnings per share for the current year.
Deere & Company Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, November 8th. Stockholders of record on Friday, September 29th were given 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 dividend yield of 1.42%. The ex-dividend date was Thursday, September 28th. Deere & Company’s dividend payout ratio (DPR) is currently 15.96%.
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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