Deere & Company (NYSE:DE) Shares Acquired by Mission Wealth Management LP

Mission Wealth Management LP boosted its position in Deere & Company (NYSE:DE) by 14.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,605 shares of the industrial products company’s stock after acquiring an additional 447 shares during the quarter. Mission Wealth Management LP’s holdings in Deere & Company were worth $1,481,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in DE. Scotia Capital Inc. lifted its stake in shares of Deere & Company by 9.8% during the third quarter. Scotia Capital Inc. now owns 59,456 shares of the industrial products company’s stock worth $22,438,000 after purchasing an additional 5,298 shares in the last quarter. Royal London Asset Management Ltd. lifted its stake in shares of Deere & Company by 7.3% during the third quarter. Royal London Asset Management Ltd. now owns 133,226 shares of the industrial products company’s stock worth $50,299,000 after purchasing an additional 9,030 shares in the last quarter. Baker Avenue Asset Management LP lifted its stake in shares of Deere & Company by 7.2% during the third quarter. Baker Avenue Asset Management LP now owns 26,851 shares of the industrial products company’s stock worth $10,133,000 after purchasing an additional 1,794 shares in the last quarter. Adalta Capital Management LLC acquired a new position in shares of Deere & Company in the third quarter worth about $329,000. Finally, Crestwood Advisors Group LLC acquired a new position in shares of Deere & Company in the third quarter worth about $961,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Insider Activity

In other news, insider Cory J. Reed sold 13,370 shares of the stock in a transaction on Monday, June 24th. The stock was sold at an average price of $377.63, for a total transaction of $5,048,913.10. Following the completion of the sale, the insider now owns 41,642 shares in the company, valued at approximately $15,725,268.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.26% of the company’s stock.

Deere & Company Price Performance

DE traded down $2.76 during trading on Friday, reaching $360.03. The stock had a trading volume of 1,273,682 shares, compared to its average volume of 1,533,038. The firm has a market capitalization of $99.21 billion, a price-to-earnings ratio of 10.84, a price-to-earnings-growth ratio of 1.46 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. Deere & Company has a 1-year low of $353.15 and a 1-year high of $450.00. The stock has a 50 day moving average of $381.97 and a two-hundred day moving average of $386.45.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, May 16th. The industrial products company reported $8.53 earnings per share for the quarter, topping analysts’ consensus estimates of $7.86 by $0.67. Deere & Company had a return on equity of 42.26% and a net margin of 16.15%. The firm had revenue of $13.61 billion during the quarter, compared to the consensus estimate of $13.29 billion. During the same period in the prior year, the firm posted $9.65 earnings per share. The firm’s revenue for the quarter was down 15.4% compared to the same quarter last year. As a group, equities analysts anticipate that Deere & Company will post 25.59 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 8th. Stockholders of record on Friday, June 28th will be given a dividend of $1.47 per share. The ex-dividend date is Friday, June 28th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.63%. Deere & Company’s dividend payout ratio (DPR) is presently 17.70%.

Analyst Ratings Changes

Several research analysts recently commented on DE shares. Stifel Nicolaus boosted their price target on Deere & Company from $425.00 to $450.00 and gave the stock a “buy” rating in a research note on Friday, May 17th. DA Davidson cut their price target on Deere & Company from $483.00 to $465.00 and set a “buy” rating on the stock in a research note on Monday, May 20th. Raymond James initiated coverage on Deere & Company in a research note on Friday, June 28th. They issued an “outperform” rating and a $420.00 price target on the stock. JPMorgan Chase & Co. lowered their price objective on Deere & Company from $425.00 to $385.00 and set a “neutral” rating for the company in a report on Friday, May 17th. Finally, Daiwa Capital Markets boosted 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. Eleven analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $427.66.

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.