Baird Financial Group Inc. Has $66.09 Million Stock Holdings in Deere & Company $DE

Baird Financial Group Inc. increased its holdings in shares of Deere & Company (NYSE:DE) by 5.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 129,969 shares of the industrial products company’s stock after buying an additional 6,349 shares during the period. Baird Financial Group Inc.’s holdings in Deere & Company were worth $66,088,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Mid American Wealth Advisory Group Inc. acquired a new stake in shares of Deere & Company during the second quarter worth $25,000. Activest Wealth Management boosted its position in shares of Deere & Company by 2,750.0% during the first quarter. Activest Wealth Management now owns 57 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 55 shares in the last quarter. Marshall & Sullivan Inc. WA acquired a new position in shares of Deere & Company in the 2nd quarter valued at $38,000. Center for Financial Planning Inc. raised its holdings in Deere & Company by 406.7% during the 2nd quarter. Center for Financial Planning Inc. now owns 76 shares of the industrial products company’s stock worth $39,000 after buying an additional 61 shares during the period. Finally, Livelsberger Financial Advisory bought a new position in Deere & Company during the 2nd quarter worth about $39,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Price Performance

Deere & Company stock opened at $482.60 on Friday. The company has a debt-to-equity ratio of 1.68, a quick ratio of 2.01 and a current ratio of 2.22. Deere & Company has a 52 week low of $403.01 and a 52 week high of $533.78. The stock has a market capitalization of $130.46 billion, a P/E ratio of 26.07, a price-to-earnings-growth ratio of 1.77 and a beta of 1.00. The stock has a fifty day moving average of $467.58 and a 200-day moving average of $489.59.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Wednesday, November 26th. The industrial products company reported $3.93 earnings per share for the quarter, missing the consensus estimate of $3.96 by ($0.03). The business had revenue of $12.39 billion during the quarter, compared to analyst estimates of $9.77 billion. Deere & Company had a net margin of 11.00% and a return on equity of 20.54%. The business’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same period last year, the business earned $4.55 earnings per share. On average, sell-side analysts expect that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 9th. Stockholders of record on Wednesday, December 31st will be paid a $1.62 dividend. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $6.48 annualized dividend and a dividend yield of 1.3%. Deere & Company’s dividend payout ratio is currently 35.01%.

Insider Transactions at Deere & Company

In related news, CEO John C. May II sold 11,106 shares of Deere & Company stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $500.08, for a total transaction of $5,553,888.48. Following the sale, the chief executive officer directly owned 112,453 shares in the company, valued at $56,235,496.24. This trade represents a 8.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.29% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Evercore ISI reaffirmed a “positive” rating on shares of Deere & Company in a research report on Friday, November 28th. Citigroup cut their price target on shares of Deere & Company from $525.00 to $515.00 and set a “neutral” rating for the company in a research note on Tuesday, October 7th. Royal Bank Of Canada reduced their price objective on shares of Deere & Company from $542.00 to $541.00 and set an “outperform” rating for the company in a research report on Friday, November 28th. Daiwa Capital Markets decreased their target price on Deere & Company from $530.00 to $520.00 and set an “outperform” rating on the stock in a research report on Tuesday. Finally, Oppenheimer lifted their price objective on shares of Deere & Company from $512.00 to $531.00 and gave the stock an “outperform” rating in a research note on Friday, November 28th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $518.95.

Deere & Company Company Profile

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.