Silvercrest Asset Management Group LLC Buys 1,059 Shares of Deere & Company (NYSE:DE)

Silvercrest Asset Management Group LLC increased its stake in shares of Deere & Company (NYSE:DE) by 4.6% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 24,060 shares of the industrial products company’s stock after acquiring an additional 1,059 shares during the period. Silvercrest Asset Management Group LLC’s holdings in Deere & Company were worth $9,882,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Captrust Financial Advisors increased its stake in shares of Deere & Company by 283.3% during the 1st quarter. Captrust Financial Advisors now owns 134,025 shares of the industrial products company’s stock worth $55,049,000 after purchasing an additional 99,060 shares during the last quarter. Robotti Robert acquired a new position in Deere & Company during the first quarter worth approximately $246,000. Bornite Capital Management LP bought a new stake in Deere & Company in the first quarter valued at approximately $8,215,000. Ascent Group LLC lifted its position in shares of Deere & Company by 14.2% in the first quarter. Ascent Group LLC now owns 1,452 shares of the industrial products company’s stock valued at $596,000 after buying an additional 181 shares during the last quarter. Finally, Transcendent Capital Group LLC boosted its stake in shares of Deere & Company by 673.1% during the 1st quarter. Transcendent Capital Group LLC now owns 201 shares of the industrial products company’s stock worth $83,000 after acquiring an additional 175 shares during the period. 68.58% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on DE shares. Morgan Stanley increased their price target on Deere & Company from $430.00 to $450.00 in a research note on Wednesday, May 15th. Oppenheimer lowered their price target on shares of Deere & Company from $465.00 to $448.00 and set an “outperform” rating on the stock in a report on Monday, July 22nd. TD Cowen boosted their price objective on Deere & Company from $383.00 to $390.00 and gave the stock a “hold” rating in a report on Friday, May 17th. Raymond James began coverage on Deere & Company in a research note on Friday, June 28th. They set an “outperform” rating and a $420.00 target price on the stock. Finally, JPMorgan Chase & Co. dropped 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. Eleven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, Deere & Company presently has an average rating of “Hold” and an average price target of $426.71.

Insiders Place Their Bets

In other news, insider Cory J. Reed sold 13,370 shares of Deere & Company 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 approximately $15,725,268.46. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.26% of the company’s stock.

Deere & Company Stock Down 1.3 %

Shares of NYSE DE opened at $371.77 on Wednesday. The stock has a market capitalization of $102.45 billion, a P/E ratio of 11.19, a PEG ratio of 1.53 and a beta of 0.93. The stock’s fifty day moving average is $371.99 and its 200 day moving average is $383.43. Deere & Company has a 52 week low of $345.93 and a 52 week high of $441.46. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.80 and a current ratio of 2.01.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, May 16th. The industrial products company reported $8.53 EPS for the quarter, beating the consensus estimate of $7.86 by $0.67. Deere & Company had a net margin of 16.15% and a return on equity of 42.26%. The firm had revenue of $13.61 billion for the quarter, compared to analyst estimates of $13.29 billion. During the same period last year, the firm earned $9.65 EPS. The business’s quarterly revenue was down 15.4% compared to the same quarter last year. Sell-side analysts forecast that Deere & Company will post 25.41 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 8th. Shareholders of record on Friday, June 28th will be given a dividend of $1.47 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $5.88 annualized dividend and a yield of 1.58%. Deere & Company’s dividend payout ratio is currently 17.70%.

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.