Transcend Capital Advisors LLC Increases Position in Deere & Company (NYSE:DE)

Transcend Capital Advisors LLC grew its position in shares of Deere & Company (NYSE:DE) by 10.8% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 793 shares of the industrial products company’s stock after purchasing an additional 77 shares during the period. Transcend Capital Advisors LLC’s holdings in Deere & Company were worth $296,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Tritonpoint Wealth LLC acquired a new stake in Deere & Company in the 4th quarter valued at about $275,000. Smith Salley & Associates grew its holdings in Deere & Company by 36.9% during the 4th quarter. Smith Salley & Associates now owns 735 shares of the industrial products company’s stock worth $294,000 after acquiring an additional 198 shares in the last quarter. Arlington Trust Co LLC purchased a new stake in shares of Deere & Company in the 4th quarter valued at approximately $103,000. Woodard & Co. Asset Management Group Inc. ADV raised its holdings in shares of Deere & Company by 330.2% in the 4th quarter. Woodard & Co. Asset Management Group Inc. ADV now owns 3,386 shares of the industrial products company’s stock valued at $1,354,000 after purchasing an additional 2,599 shares in the last quarter. Finally, Ceredex Value Advisors LLC purchased a new stake in shares of Deere & Company during the 4th quarter worth $43,384,000. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Price Performance

DE stock traded down $8.64 during midday trading on Monday, hitting $345.11. 1,604,960 shares of the stock were exchanged, compared to its average volume of 1,526,850. The stock’s 50-day moving average price is $370.86 and its 200-day moving average price is $382.96. 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 cap of $95.10 billion, a price-to-earnings ratio of 10.35, a PEG ratio of 1.59 and a beta of 0.93. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $441.46.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, May 16th. The industrial products company reported $8.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.86 by $0.67. Deere & Company had a return on equity of 42.26% and a net margin of 16.15%. The business had revenue of $13.61 billion during the quarter, compared to the consensus estimate of $13.29 billion. During the same quarter in the previous year, the company posted $9.65 EPS. The business’s revenue was down 15.4% on a year-over-year basis. Research analysts predict that Deere & Company will post 25.41 earnings per share for the current year.

Deere & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 8th. Investors of record on Friday, June 28th will be paid a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date of this dividend is Friday, June 28th. Deere & Company’s payout ratio is currently 17.70%.

Insider Buying and Selling at Deere & Company

In related 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 completion of the transaction, the insider now owns 41,642 shares of the company’s stock, valued at approximately $15,725,268.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.26% of the stock is owned by insiders.

Analysts Set New Price Targets

DE has been the topic of a number of analyst reports. JPMorgan Chase & Co. decreased their price target on Deere & Company from $385.00 to $375.00 and set a “neutral” rating for the company in a report on Thursday, July 11th. Stifel Nicolaus upped their price target on Deere & Company from $425.00 to $450.00 and gave the company a “buy” rating in a report on Friday, May 17th. Morgan Stanley boosted their price objective on shares of Deere & Company from $430.00 to $450.00 in a research report on Wednesday, May 15th. DA Davidson lowered their target price on shares of Deere & Company from $483.00 to $465.00 and set a “buy” rating for the company in a report on Monday, May 20th. Finally, Citigroup began coverage on Deere & Company in a research report on Wednesday, June 26th. They set a “neutral” rating and a $395.00 target price on the stock. Eleven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $426.71.

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.