PFG Advisors Lowers Position in Deere & Company (NYSE:DE)

PFG Advisors decreased its holdings in shares of Deere & Company (NYSE:DE) by 0.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,386 shares of the industrial products company’s stock after selling 29 shares during the quarter. PFG Advisors’ holdings in Deere & Company were worth $2,386,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Harbor Investment Advisory LLC grew its holdings in shares of Deere & Company by 27.4% during the 1st quarter. Harbor Investment Advisory LLC now owns 1,730 shares of the industrial products company’s stock valued at $710,000 after purchasing an additional 372 shares during the last quarter. Brevan Howard Capital Management LP grew its position in Deere & Company by 857.9% during the 4th quarter. Brevan Howard Capital Management LP now owns 7,654 shares of the industrial products company’s stock worth $3,061,000 after acquiring an additional 6,855 shares during the last quarter. Aviance Capital Partners LLC purchased a new position in Deere & Company in the 1st quarter worth approximately $2,783,000. Oxford Financial Group LTD. LLC lifted its position in Deere & Company by 2.9% in the fourth quarter. Oxford Financial Group LTD. LLC now owns 1,827 shares of the industrial products company’s stock valued at $731,000 after purchasing an additional 51 shares during the last quarter. Finally, First Trust Advisors LP lifted its position in Deere & Company by 22.3% in the fourth quarter. First Trust Advisors LP now owns 75,832 shares of the industrial products company’s stock valued at $30,323,000 after purchasing an additional 13,833 shares during the last quarter. 68.58% of the stock is currently owned by institutional investors.

Deere & Company Trading Down 0.4 %

Shares of DE stock opened at $387.15 on Friday. Deere & Company has a 52-week low of $340.20 and a 52-week high of $417.46. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.87 and a current ratio of 2.07. The firm has a market capitalization of $106.69 billion, a PE ratio of 11.65, a PEG ratio of 1.27 and a beta of 0.92. The stock has a fifty day simple moving average of $371.02 and a two-hundred day simple moving average of $381.15.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.63 by $0.66. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The company had revenue of $11.39 billion for the quarter, compared to the consensus estimate of $10.94 billion. During the same quarter last year, the company earned $10.20 EPS. The firm’s quarterly revenue was down 20.3% on a year-over-year basis. On average, analysts predict that Deere & Company will post 25.07 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The business 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 $1.47 dividend. This represents a $5.88 annualized dividend and a dividend yield of 1.52%. The ex-dividend date is Monday, September 30th. Deere & Company’s dividend payout ratio (DPR) is presently 17.70%.

Analysts Set New Price Targets

A number of brokerages have issued reports on DE. BMO Capital Markets initiated coverage on shares of Deere & Company in a report on Friday, August 9th. They issued a “market perform” rating and a $400.00 price target on the stock. Deutsche Bank Aktiengesellschaft cut their target price on Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a research note on Thursday, August 8th. Morgan Stanley reduced their target price on Deere & Company from $450.00 to $425.00 and set an “overweight” rating on the stock in a research note on Monday, August 26th. Oppenheimer decreased their price target on shares of Deere & Company from $465.00 to $448.00 and set an “outperform” rating for the company in a research note on Monday, July 22nd. Finally, TD Cowen raised their price objective on Deere & Company from $383.00 to $390.00 and gave the company a “hold” rating in a research report on Friday, May 17th. Fourteen analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Deere & Company presently has a consensus rating of “Hold” and an average target price of $414.11.

Insider Buying and Selling

In other Deere & Company news, insider Cory J. Reed sold 13,370 shares of Deere & Company stock in a transaction on 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 sale, the insider now directly owns 41,642 shares in the company, valued at approximately $15,725,268.46. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.26% of the stock is owned by company insiders.

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.