Deere & Company (NYSE:DE) Stock Holdings Lifted by Legacy Advisors LLC

Legacy Advisors LLC increased its holdings in shares of Deere & Company (NYSE:DE) by 2.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,916 shares of the industrial products company’s stock after acquiring an additional 43 shares during the quarter. Legacy Advisors LLC’s holdings in Deere & Company were worth $716,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of DE. Rothschild Investment LLC acquired a new position in Deere & Company during the 2nd quarter valued at about $2,884,000. United Capital Management of KS Inc. grew its position in Deere & Company by 2.5% in the second quarter. United Capital Management of KS Inc. now owns 16,028 shares of the industrial products company’s stock worth $5,989,000 after buying an additional 398 shares during the last quarter. Intact Investment Management Inc. raised its position in shares of Deere & Company by 9.2% during the second quarter. Intact Investment Management Inc. now owns 1,310 shares of the industrial products company’s stock worth $489,000 after purchasing an additional 110 shares during the period. Americana Partners LLC lifted its stake in Deere & Company by 5.4% during the second quarter. Americana Partners LLC now owns 1,932 shares of the industrial products company’s stock valued at $722,000 after buying an additional 99 shares in the last quarter. Finally, Benedict Financial Advisors Inc. lifted its position in shares of Deere & Company by 2.7% in the 2nd quarter. Benedict Financial Advisors Inc. now owns 1,241 shares of the industrial products company’s stock valued at $464,000 after acquiring an additional 33 shares in the last quarter. Institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Up 1.0 %

Shares of NYSE:DE traded up $3.92 during midday trading on Friday, reaching $385.74. The company had a trading volume of 1,413,160 shares, compared to its average volume of 1,528,736. Deere & Company has a 1-year low of $340.20 and a 1-year high of $423.35. The stock has a market cap of $106.30 billion, a PE ratio of 11.61, a P/E/G ratio of 1.59 and a beta of 0.93. The company has a quick ratio of 1.80, a current ratio of 2.01 and a debt-to-equity ratio of 1.81. The business’s 50 day moving average price is $367.94 and its 200 day moving average price is $379.81.

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 analyst estimates of $10.94 billion. Deere & Company had a return on equity of 42.26% and a net margin of 16.15%. The business’s quarterly revenue was down 20.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $10.20 EPS. Research analysts forecast that Deere & Company will post 25.41 EPS for the current fiscal year.

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Monday, September 30th will be issued a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date is Monday, September 30th. Deere & Company’s dividend payout ratio is currently 17.70%.

Insider Activity at Deere & Company

In related news, insider Cory J. Reed sold 13,370 shares of the firm’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $377.63, for a total value of $5,048,913.10. Following the transaction, the insider now owns 41,642 shares in the company, valued at $15,725,268.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.26% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have recently weighed in on DE. Raymond James began coverage on Deere & Company in a report on Friday, June 28th. They issued an “outperform” rating and a $420.00 target price on the stock. DA Davidson dropped their target price on Deere & Company from $483.00 to $465.00 and set a “buy” rating for the company in a report on Monday, May 20th. Morgan Stanley lowered their price objective on shares of Deere & Company from $450.00 to $425.00 and set an “overweight” rating for the company in a research report on Monday, August 26th. Bank of America boosted their price objective on Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a report on Friday, August 16th. Finally, Daiwa Capital Markets upped their price objective on Deere & Company from $400.00 to $420.00 and gave the company an “overweight” rating in a report on Wednesday, May 15th. Fourteen research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Deere & Company currently has a consensus rating of “Hold” and an average target price of $414.11.

Deere & Company Profile

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.