US Bancorp DE lifted its holdings in Deere & Company (NYSE:DE) by 3.0% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 330,958 shares of the industrial products company’s stock after buying an additional 9,625 shares during the period. US Bancorp DE’s holdings in Deere & Company were worth $54,843,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. SRS Capital Advisors Inc. bought a new position in shares of Deere & Company in the 2nd quarter worth about $28,000. Arcus Capital Partners LLC bought a new position in shares of Deere & Company in the 2nd quarter worth about $33,000. Orrstown Financial Services Inc. raised its position in shares of Deere & Company by 116.0% in the 2nd quarter. Orrstown Financial Services Inc. now owns 216 shares of the industrial products company’s stock worth $36,000 after acquiring an additional 116 shares in the last quarter. Nelson Roberts Investment Advisors LLC raised its position in shares of Deere & Company by 34.8% in the 2nd quarter. Nelson Roberts Investment Advisors LLC now owns 271 shares of the industrial products company’s stock worth $45,000 after acquiring an additional 70 shares in the last quarter. Finally, Heritage Wealth Advisors bought a new position in shares of Deere & Company in the 2nd quarter worth about $47,000. 67.67% of the stock is owned by hedge funds and other institutional investors.
Several research firms have recently weighed in on DE. Credit Suisse Group reissued an “outperform” rating and issued a $197.00 price objective (up from $176.00) on shares of Deere & Company in a research report on Monday, August 19th. Barclays reaffirmed a “buy” rating and issued a $167.00 target price on shares of Deere & Company in a research report on Monday, July 15th. Vertical Research lowered Deere & Company from a “buy” rating to a “hold” rating in a research report on Monday, May 20th. Wells Fargo & Co lowered Deere & Company from an “outperform” rating to a “market perform” rating and set a $170.00 target price for the company. in a research report on Thursday. Finally, Robert W. Baird decreased their target price on Deere & Company from $170.00 to $150.00 and set a “positive” rating for the company in a research report on Tuesday, August 13th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have issued a buy rating to the company’s stock. Deere & Company has a consensus rating of “Hold” and an average target price of $166.89.
DE stock traded up $2.16 during mid-day trading on Friday, reaching $165.42. 1,668,742 shares of the company traded hands, compared to its average volume of 1,846,019. The stock has a market cap of $52.00 billion, a price-to-earnings ratio of 17.62, a P/E/G ratio of 2.36 and a beta of 1.15. The company has a quick ratio of 1.73, a current ratio of 1.99 and a debt-to-equity ratio of 2.38. Deere & Company has a fifty-two week low of $128.32 and a fifty-two week high of $171.22. The firm’s 50 day moving average price is $155.84 and its 200 day moving average price is $157.52.
Deere & Company (NYSE:DE) last released its quarterly earnings results on Friday, August 16th. The industrial products company reported $2.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.80 by ($0.09). The company had revenue of $8.97 billion for the quarter, compared to analyst estimates of $9.38 billion. Deere & Company had a net margin of 8.55% and a return on equity of 27.75%. Deere & Company’s revenue for the quarter was down 3.4% on a year-over-year basis. During the same quarter last year, the firm posted $2.59 EPS. On average, analysts anticipate that Deere & Company will post 9.98 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Monday, September 30th will be paid a dividend of $0.76 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $3.04 dividend on an annualized basis and a yield of 1.84%. Deere & Company’s dividend payout ratio (DPR) is currently 32.37%.
In other Deere & Company news, COO John C. May II sold 16,468 shares of Deere & Company stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $163.21, for a total transaction of $2,687,742.28. Following the completion of the transaction, the chief operating officer now owns 60,550 shares in the company, valued at approximately $9,882,365.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO John C. May II sold 5,228 shares of Deere & Company stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $170.00, for a total value of $888,760.00. Following the transaction, the chief operating officer now owns 49,310 shares of the company’s stock, valued at approximately $8,382,700. The disclosure for this sale can be found here. 0.71% of the stock is currently owned by insiders.
Deere & Company Company Profile
Deere & Company manufactures and distributes various equipment worldwide. The company operates through three segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment offers agriculture and turf equipment, and related parts, including large, medium, and utility tractors; tractor loaders; combines, cotton pickers, cotton strippers, and sugarcane harvesters; harvesting front-end equipment; sugarcane loaders and pull-behind scrapers; and tillage, seeding, and application equipment.
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