Means Investment CO. Inc. Has $1.16 Million Holdings in Deere & Company (NYSE:DE)

Means Investment CO. Inc. boosted its holdings in Deere & Company (NYSE:DE) by 1.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,108 shares of the industrial products company’s stock after purchasing an additional 34 shares during the quarter. Means Investment CO. Inc.’s holdings in Deere & Company were worth $1,161,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. True Wealth Design LLC boosted its stake in shares of Deere & Company by 1,180.0% in the 4th quarter. True Wealth Design LLC now owns 64 shares of the industrial products company’s stock worth $26,000 after buying an additional 59 shares during the last quarter. Pineridge Advisors LLC increased its holdings in Deere & Company by 725.0% during the first quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock worth $27,000 after buying an additional 58 shares during the last quarter. Rakuten Securities Inc. bought a new stake in Deere & Company in the fourth quarter worth about $28,000. Naples Money Management LLC purchased a new position in Deere & Company in the fourth quarter valued at about $29,000. Finally, Private Wealth Management Group LLC bought a new position in shares of Deere & Company during the 4th quarter valued at approximately $29,000. Institutional investors own 68.58% of the company’s stock.

Deere & Company Trading Down 1.3 %

Deere & Company stock traded down $5.01 during trading hours on Monday, reaching $372.91. The company had a trading volume of 1,675,761 shares, compared to its average volume of 1,550,788. The company has a debt-to-equity ratio of 1.81, a current ratio of 2.01 and a quick ratio of 1.80. Deere & Company has a 12-month low of $340.20 and a 12-month high of $423.35. The company has a 50-day moving average price of $367.47 and a 200 day moving average price of $380.36. The firm has a market cap of $102.76 billion, a price-to-earnings ratio of 11.29, a P/E/G ratio of 1.59 and a beta of 0.93.

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

Deere & Company Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 8th. Stockholders of record on Friday, June 28th were paid a $1.47 dividend. The ex-dividend date was Friday, June 28th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.58%. Deere & Company’s dividend payout ratio (DPR) is currently 17.70%.

Insider Buying and Selling at Deere & Company

In other news, insider Cory J. Reed sold 13,370 shares of the business’s stock in a transaction dated 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 directly owns 41,642 shares in the company, valued at $15,725,268.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on DE. JPMorgan Chase & Co. dropped their price target on shares of Deere & Company from $375.00 to $360.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 13th. Oppenheimer cut their price target on Deere & Company from $465.00 to $448.00 and set an “outperform” rating for the company in a report on Monday, July 22nd. BMO Capital Markets initiated coverage on Deere & Company in a research report on Friday, August 9th. They issued a “market perform” rating and a $400.00 price target for the company. Evercore ISI boosted their price objective on Deere & Company from $371.00 to $378.00 and gave the company an “in-line” rating in a research note on Monday. Finally, TD Cowen raised their target price on Deere & Company from $383.00 to $390.00 and gave the stock a “hold” rating in a research note on Friday, May 17th. Fourteen equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Deere & Company presently has a consensus rating of “Hold” and a consensus price target of $421.90.

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.