Advisory Services Network LLC Raises Position in Deere & Company $DE

Advisory Services Network LLC lifted its stake in shares of Deere & Company (NYSE:DE) by 30.6% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 23,795 shares of the industrial products company’s stock after buying an additional 5,580 shares during the quarter. Advisory Services Network LLC’s holdings in Deere & Company were worth $12,478,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of DE. State of Wyoming acquired a new position in shares of Deere & Company during the second quarter worth $190,000. Asset Dedication LLC increased its stake in Deere & Company by 4.1% during the 2nd quarter. Asset Dedication LLC now owns 2,166 shares of the industrial products company’s stock worth $1,101,000 after buying an additional 85 shares during the period. Tactive Advisors LLC acquired a new stake in shares of Deere & Company during the second quarter valued at about $286,000. N.E.W. Advisory Services LLC increased its position in shares of Deere & Company by 18.6% during the second quarter. N.E.W. Advisory Services LLC now owns 753 shares of the industrial products company’s stock worth $383,000 after acquiring an additional 118 shares during the last quarter. Finally, Geneos Wealth Management Inc. boosted its holdings in Deere & Company by 17.1% in the second quarter. Geneos Wealth Management Inc. now owns 4,570 shares of the industrial products company’s stock valued at $2,324,000 after purchasing an additional 667 shares during the last quarter. 68.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on DE. Jefferies Financial Group upped their target price on Deere & Company from $440.00 to $475.00 and gave the company a “hold” rating in a research report on Tuesday. Robert W. Baird decreased their price objective on shares of Deere & Company from $488.00 to $467.00 and set a “neutral” rating for the company in a report on Monday, October 13th. BMO Capital Markets reaffirmed a “market perform” rating and set a $460.00 price target on shares of Deere & Company in a research report on Tuesday. Daiwa Capital Markets lowered their price objective on Deere & Company from $530.00 to $520.00 and set an “outperform” rating for the company in a report on Tuesday, December 2nd. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $560.00 target price on shares of Deere & Company in a report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $523.70.

Deere & Company Trading Up 2.0%

Shares of NYSE:DE opened at $485.35 on Friday. The company’s 50-day moving average price is $469.02 and its two-hundred day moving average price is $487.55. The company has a debt-to-equity ratio of 1.68, a current ratio of 2.22 and a quick ratio of 2.01. Deere & Company has a one year low of $403.01 and a one year high of $533.78. The stock has a market capitalization of $131.20 billion, a PE ratio of 26.22, a price-to-earnings-growth ratio of 1.83 and a beta of 1.00.

Deere & Company (NYSE:DE) last announced 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). Deere & Company had a net margin of 11.00% and a return on equity of 20.54%. The company had revenue of $12.39 billion during the quarter, compared to the consensus estimate of $9.77 billion. During the same quarter in the previous year, the business earned $4.55 EPS. Deere & Company’s revenue was up 14.1% on a year-over-year basis. On average, equities analysts forecast that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Announces Dividend

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

Insider Buying and Selling at Deere & Company

In related news, CEO John C. May II sold 11,106 shares of the business’s stock in a transaction 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 transaction, the chief executive officer directly owned 112,453 shares in the company, valued at approximately $56,235,496.24. The trade was a 8.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.29% of the company’s stock.

About Deere & Company

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.