Herold Advisors Inc. boosted its stake in shares of Deere & Company (NYSE:DE – Get Rating) by 5.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,319 shares of the industrial products company’s stock after acquiring an additional 294 shares during the quarter. Herold Advisors Inc.’s holdings in Deere & Company were worth $1,592,000 as of its most recent SEC filing.
Several other large investors have also modified their holdings of the business. Sound Income Strategies LLC acquired a new position in shares of Deere & Company in the 2nd quarter valued at $27,000. Worth Asset Management LLC acquired a new stake in Deere & Company in the 1st quarter valued at about $28,000. Nauset Wealth Management. LLC acquired a new stake in Deere & Company in the 1st quarter valued at about $29,000. Bank of New Hampshire acquired a new stake in shares of Deere & Company during the 1st quarter worth approximately $30,000. Finally, Mine & Arao Wealth Creation & Management LLC. increased its holdings in Deere & Company by 614.3% in the 1st quarter. Mine & Arao Wealth Creation & Management LLC. now owns 100 shares of the industrial products company’s stock valued at $42,000 after purchasing an additional 86 shares during the last quarter. Hedge funds and other institutional investors own 75.34% of the company’s stock.
Analysts Set New Price Targets
Several research firms have recently issued reports on DE. Cowen decreased their price objective on shares of Deere & Company from $396.00 to $342.00 in a research report on Thursday, July 7th. Evercore ISI upped their price target on shares of Deere & Company from $416.00 to $439.00 in a research report on Monday, August 22nd. JPMorgan Chase & Co. dropped their price objective on shares of Deere & Company from $370.00 to $325.00 and set a “neutral” rating for the company in a research report on Tuesday, July 12th. Credit Suisse Group increased their price objective on shares of Deere & Company from $393.00 to $447.00 and gave the company an “outperform” rating in a research note on Monday, August 22nd. Finally, Morgan Stanley raised their price target on shares of Deere & Company from $416.00 to $424.00 and gave the stock an “overweight” rating in a research report on Sunday, August 21st. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, Deere & Company currently has an average rating of “Moderate Buy” and a consensus target price of $407.68.
Deere & Company Price Performance
Deere & Company (NYSE:DE – Get Rating) last announced its quarterly earnings data on Friday, August 19th. The industrial products company reported $6.16 EPS for the quarter, missing analysts’ consensus estimates of $6.61 by ($0.45). Deere & Company had a return on equity of 33.26% and a net margin of 12.75%. The company had revenue of $13 billion for the quarter, compared to analyst estimates of $12.84 billion. During the same period in the prior year, the firm posted $5.32 earnings per share. The business’s quarterly revenue was up 24.8% compared to the same quarter last year. Equities analysts predict that Deere & Company will post 22.94 EPS for the current fiscal year.
Deere & Company Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 8th. Shareholders of record on Friday, September 30th will be issued a $1.13 dividend. This represents a $4.52 annualized dividend and a yield of 1.35%. The ex-dividend date of this dividend is Thursday, September 29th. Deere & Company’s dividend payout ratio (DPR) is 22.59%.
Insider Buying and Selling at Deere & Company
In other Deere & Company news, CAO Marc A. Howze sold 4,019 shares of the company’s stock in a transaction on Friday, September 9th. The stock was sold at an average price of $373.22, for a total value of $1,499,971.18. Following the sale, the chief accounting officer now owns 17,321 shares of the company’s stock, valued at $6,464,543.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.24% of the stock is owned by corporate insiders.
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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