Deere & Company (NYSE:DE) Shares Sold by MBL Wealth LLC

MBL Wealth LLC trimmed its holdings in Deere & Company (NYSE:DE) by 7.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,246 shares of the industrial products company’s stock after selling 99 shares during the quarter. MBL Wealth LLC’s holdings in Deere & Company were worth $466,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in Deere & Company by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 21,988,363 shares of the industrial products company’s stock valued at $9,031,500,000 after purchasing an additional 263,709 shares in the last quarter. Janus Henderson Group PLC boosted its stake in Deere & Company by 0.5% during the first quarter. Janus Henderson Group PLC now owns 3,859,021 shares of the industrial products company’s stock valued at $1,585,028,000 after buying an additional 19,200 shares in the last quarter. Parnassus Investments LLC grew its holdings in Deere & Company by 22.4% during the fourth quarter. Parnassus Investments LLC now owns 3,856,171 shares of the industrial products company’s stock worth $1,541,967,000 after acquiring an additional 705,771 shares during the period. Norges Bank bought a new stake in Deere & Company in the fourth quarter worth about $1,248,036,000. Finally, Dimensional Fund Advisors LP lifted its holdings in Deere & Company by 11.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,595,945 shares of the industrial products company’s stock valued at $638,167,000 after acquiring an additional 160,369 shares during the last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Stock Up 1.2 %

NYSE DE traded up $4.66 during trading on Friday, reaching $377.92. The company’s stock had a trading volume of 2,103,088 shares, compared to its average volume of 1,549,985. The company has a current ratio of 2.01, a quick ratio of 1.80 and a debt-to-equity ratio of 1.81. The stock has a market capitalization of $104.14 billion, a PE ratio of 11.38, a PEG ratio of 1.59 and a beta of 0.93. Deere & Company has a 1-year low of $340.20 and a 1-year high of $425.42. The business has a 50-day moving average price of $367.47 and a 200-day moving average price of $380.45.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share for the quarter, beating analysts’ consensus estimates of $5.63 by $0.66. The business had revenue of $11.39 billion for the quarter, compared to the consensus estimate of $10.94 billion. Deere & Company had a net margin of 16.15% and a return on equity of 42.26%. Deere & Company’s revenue for the quarter was down 20.3% on a year-over-year basis. During the same quarter last year, the firm earned $10.20 EPS. On average, research analysts forecast that Deere & Company will post 25.41 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 8th. Stockholders of record on Friday, June 28th were paid a dividend of $1.47 per share. The ex-dividend date of this dividend was Friday, June 28th. This represents a $5.88 annualized dividend and a dividend yield of 1.56%. Deere & Company’s dividend payout ratio (DPR) is presently 17.70%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. TD Cowen increased their target price on shares of Deere & Company from $383.00 to $390.00 and gave the company a “hold” rating in a research note on Friday, May 17th. Citigroup reduced their price objective on Deere & Company from $395.00 to $370.00 and set a “neutral” rating for the company in a research note on Tuesday, August 13th. Morgan Stanley boosted their target price on Deere & Company from $430.00 to $450.00 in a research report on Wednesday, May 15th. Daiwa Capital Markets increased their price target on Deere & Company from $400.00 to $420.00 and gave the company an “overweight” rating in a research report on Wednesday, May 15th. Finally, BMO Capital Markets assumed coverage on Deere & Company in a report on Friday, August 9th. They set a “market perform” rating and a $400.00 price objective on the stock. Thirteen research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $422.35.

Insider Transactions at Deere & Company

In other news, insider Cory J. Reed sold 13,370 shares of Deere & Company stock in a transaction that occurred 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 transaction, the insider now owns 41,642 shares of the company’s stock, valued at $15,725,268.46. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.26% of the stock is currently owned by corporate insiders.

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.