SlateStone Wealth LLC Raises Stock Holdings in Deere & Company (NYSE:DE)

SlateStone Wealth LLC increased its stake in Deere & Company (NYSE:DE) by 50.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,836 shares of the industrial products company’s stock after acquiring an additional 948 shares during the period. SlateStone Wealth LLC’s holdings in Deere & Company were worth $1,060,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. International Assets Investment Management LLC increased its position in shares of Deere & Company by 15.9% during the fourth quarter. International Assets Investment Management LLC now owns 2,102 shares of the industrial products company’s stock worth $841,000 after acquiring an additional 288 shares during the period. Callan Capital LLC bought a new position in Deere & Company during the 4th quarter worth about $211,000. K.J. Harrison & Partners Inc bought a new position in shares of Deere & Company during the fourth quarter valued at approximately $408,000. Gilliland Jeter Wealth Management LLC purchased a new position in shares of Deere & Company in the 4th quarter valued at $518,000. Finally, Cedar Point Capital Partners LLC bought a new position in shares of Deere & Company in the 4th quarter worth $666,000. 68.58% of the stock is owned by institutional investors.

Deere & Company Stock Up 0.5 %

Shares of DE opened at $383.09 on Tuesday. The stock has a 50 day moving average price of $367.96 and a 200 day moving average price of $379.87. Deere & Company has a one year low of $340.20 and a one year high of $423.35. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.80 and a current ratio of 2.01. The stock has a market capitalization of $105.57 billion, a price-to-earnings ratio of 11.53, a PEG ratio of 1.59 and a beta of 0.93.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share for the quarter, topping the consensus estimate of $5.63 by $0.66. The firm had revenue of $11.39 billion for the quarter, compared to the consensus estimate of $10.94 billion. Deere & Company had a net margin of 16.15% and a return on equity of 42.26%. The company’s revenue for the quarter was down 20.3% on a year-over-year basis. During the same period last year, the firm posted $10.20 earnings per share. Equities research analysts forecast that Deere & Company will post 25.41 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 8th. Investors of record on Friday, June 28th were issued a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date of this dividend was Friday, June 28th. Deere & Company’s dividend payout ratio is currently 17.70%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on DE shares. Hsbc Global Res cut shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, August 19th. Bank of America raised their target price on Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a research note on Friday, August 16th. Oppenheimer dropped their price target on Deere & Company from $465.00 to $448.00 and set an “outperform” rating on the stock in a research note on Monday, July 22nd. HSBC cut Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday, August 19th. Finally, TD Cowen upped their target price on Deere & Company from $383.00 to $390.00 and gave the company a “hold” rating in a research report on Friday, May 17th. Fourteen analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $414.11.

Insider Buying and Selling

In other Deere & Company news, insider Cory J. Reed sold 13,370 shares of the business’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $377.63, for a total value of $5,048,913.10. Following the transaction, the insider now directly owns 41,642 shares in the company, valued at approximately $15,725,268.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.26% of the stock is owned by company insiders.

About Deere & Company

Deere & Company engages in the manufacture and distribution of 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 large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, 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.