PFG Advisors boosted its stake in Deere & Company (NYSE:DE – Get Rating) by 7.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,128 shares of the industrial products company’s stock after purchasing an additional 79 shares during the quarter. PFG Advisors’ holdings in Deere & Company were worth $338,000 as of its most recent filing with the SEC.
Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in Deere & Company by 0.9% during the first quarter. Vanguard Group Inc. now owns 21,678,757 shares of the industrial products company’s stock worth $9,006,656,000 after buying an additional 194,170 shares during the period. BlackRock Inc. grew its stake in Deere & Company by 4.0% during the first quarter. BlackRock Inc. now owns 18,243,075 shares of the industrial products company’s stock worth $7,579,271,000 after buying an additional 706,609 shares during the period. State Street Corp grew its stake in Deere & Company by 0.9% during the fourth quarter. State Street Corp now owns 11,613,684 shares of the industrial products company’s stock worth $3,994,236,000 after buying an additional 102,269 shares during the period. Wellington Management Group LLP grew its stake in Deere & Company by 3.9% during the first quarter. Wellington Management Group LLP now owns 6,344,147 shares of the industrial products company’s stock worth $2,635,740,000 after buying an additional 235,686 shares during the period. Finally, Parnassus Investments LLC grew its stake in Deere & Company by 1.2% during the first quarter. Parnassus Investments LLC now owns 3,606,635 shares of the industrial products company’s stock worth $1,498,413,000 after buying an additional 43,557 shares during the period. 75.34% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several equities research analysts have issued reports on DE shares. Cowen decreased their price objective on shares of Deere & Company from $396.00 to $342.00 in a research note on Thursday, July 7th. Wells Fargo & Company boosted their target price on shares of Deere & Company from $410.00 to $423.00 and gave the stock an “overweight” rating in a research report on Monday, August 22nd. Citigroup boosted their target price on shares of Deere & Company from $340.00 to $425.00 and gave the stock a “buy” rating in a research report on Tuesday, August 23rd. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Deere & Company from $388.00 to $386.00 in a research report on Monday, August 22nd. Finally, Bank of America boosted their target price on shares of Deere & Company from $335.00 to $381.00 in a research report on Sunday, August 21st. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $407.68.
Deere & Company Stock Down 1.1 %
Deere & Company (NYSE:DE – Get Rating) last released its quarterly earnings results on Friday, August 19th. The industrial products company reported $6.16 EPS for the quarter, missing the consensus estimate of $6.61 by ($0.45). The firm had revenue of $13 billion for the quarter, compared to the consensus estimate of $12.84 billion. Deere & Company had a return on equity of 33.26% and a net margin of 12.75%. The firm’s revenue was up 24.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $5.32 EPS. Equities analysts anticipate that Deere & Company will post 22.94 EPS for the current year.
Deere & Company Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 8th. Investors of record on Friday, September 30th will be given a $1.13 dividend. The ex-dividend date is Thursday, September 29th. This represents a $4.52 dividend on an annualized basis and a yield of 1.31%. Deere & Company’s dividend payout ratio is presently 22.59%.
Insider Activity at Deere & Company
In related news, CAO Marc A. Howze sold 4,019 shares of the stock in a transaction dated Friday, September 9th. The shares were sold at an average price of $373.22, for a total value of $1,499,971.18. Following the completion of the transaction, the chief accounting officer now owns 17,321 shares in the company, valued at approximately $6,464,543.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.24% of the stock is currently owned by 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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