Executive Wealth Management LLC grew its stake in Deere & Company (NYSE:DE) by 78.7% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 597 shares of the industrial products company’s stock after buying an additional 263 shares during the quarter. Executive Wealth Management LLC’s holdings in Deere & Company were worth $99,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Private Ocean LLC raised its holdings in Deere & Company by 560.0% in the 1st quarter. Private Ocean LLC now owns 198 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 168 shares during the period. Ellis Investment Partners LLC purchased a new stake in Deere & Company during the 1st quarter worth approximately $33,000. Arcus Capital Partners LLC purchased a new stake in Deere & Company during the 2nd quarter worth approximately $33,000. Orrstown Financial Services Inc. increased its stake in Deere & Company by 116.0% during the 2nd quarter. Orrstown Financial Services Inc. now owns 216 shares of the industrial products company’s stock worth $36,000 after buying an additional 116 shares in the last quarter. Finally, Field & Main Bank purchased a new stake in Deere & Company during the 1st quarter worth approximately $40,000. 67.85% of the stock is owned by institutional investors and hedge funds.
Shares of DE stock traded down $0.03 during trading hours on Thursday, reaching $143.14. The company had a trading volume of 71,831 shares, compared to its average volume of 1,907,151. The company has a debt-to-equity ratio of 2.37, a current ratio of 1.94 and a quick ratio of 1.66. The stock has a fifty day simple moving average of $162.18. The firm has a market cap of $46.61 billion, a P/E ratio of 15.21, a price-to-earnings-growth ratio of 1.81 and a beta of 1.10. Deere & Company has a 12-month low of $128.32 and a 12-month high of $171.22.
Deere & Company (NYSE:DE) last posted its quarterly earnings results on Friday, May 17th. The industrial products company reported $3.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.57 by ($0.05). The company had revenue of $10.27 billion during the quarter, compared to analysts’ expectations of $10.19 billion. Deere & Company had a net margin of 8.52% and a return on equity of 28.76%. Deere & Company’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter last year, the company earned $3.14 earnings per share. As a group, analysts anticipate that Deere & Company will post 10.22 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Friday, June 28th were given a $0.76 dividend. The ex-dividend date of this dividend was Thursday, June 27th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 2.12%. Deere & Company’s dividend payout ratio (DPR) is presently 32.37%.
DE has been the subject of several research reports. Stephens initiated coverage on Deere & Company in a research note on Wednesday. They set an “equal weight” rating and a $160.00 price objective for the company. Robert W. Baird cut their price objective on Deere & Company from $170.00 to $150.00 and set a “positive” rating for the company in a research note on Tuesday. JPMorgan Chase & Co. lowered Deere & Company from a “neutral” rating to an “underweight” rating and cut their price objective for the stock from $154.00 to $132.00 in a research note on Tuesday, May 14th. Royal Bank of Canada cut their price objective on Deere & Company from $190.00 to $175.00 and set an “outperform” rating for the company in a research note on Monday, May 20th. Finally, Deutsche Bank cut their price objective on Deere & Company from $163.00 to $155.00 and set a “hold” rating for the company in a research note on Wednesday. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and thirteen have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $167.21.
In other news, COO John C. May II sold 16,468 shares of the company’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $163.21, for a total value of $2,687,742.28. Following the completion of the sale, the chief operating officer now directly owns 60,550 shares in the company, valued at $9,882,365.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO John C. May II sold 5,228 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $170.00, for a total value of $888,760.00. Following the completion of the sale, the chief operating officer now owns 49,310 shares of the company’s stock, valued at $8,382,700. The disclosure for this sale can be found here. 0.71% of the stock is owned by corporate insiders.
Deere & Company Profile
Deere & Company manufactures and distributes various equipment worldwide. The company operates through three segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment offers agriculture and turf equipment, and related parts, including large, medium, and utility tractors; tractor loaders; combines, cotton pickers, cotton strippers, and sugarcane harvesters; harvesting front-end equipment; sugarcane loaders and pull-behind scrapers; and tillage, seeding, and application equipment.
Further Reading: Price to Earnings Ratio (PE)
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