Sage Mountain Advisors LLC Boosts Stock Position in Deere & Company (NYSE:DE)

Sage Mountain Advisors LLC grew its position in Deere & Company (NYSE:DE) by 3.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,341 shares of the industrial products company’s stock after buying an additional 40 shares during the quarter. Sage Mountain Advisors LLC’s holdings in Deere & Company were worth $501,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Harbor Investment Advisory LLC raised its stake in Deere & Company by 27.4% in the first quarter. Harbor Investment Advisory LLC now owns 1,730 shares of the industrial products company’s stock valued at $710,000 after buying an additional 372 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Deere & Company by 2.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,570,773 shares of the industrial products company’s stock valued at $628,105,000 after purchasing an additional 31,074 shares during the period. Brevan Howard Capital Management LP boosted its stake in shares of Deere & Company by 857.9% in the fourth 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 acquired a new stake in shares of Deere & Company in the first quarter worth approximately $2,783,000. Finally, Oxford Financial Group LTD. LLC boosted its stake in shares of 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 worth $731,000 after acquiring an additional 51 shares during the last quarter. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on DE shares. Citigroup lowered their price objective on Deere & Company from $395.00 to $370.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 13th. Raymond James initiated coverage on Deere & Company in a report on Friday, June 28th. They set an “outperform” rating and a $420.00 price target for the company. JPMorgan Chase & Co. dropped their price target on Deere & Company from $375.00 to $360.00 and set a “neutral” rating for the company in a research report on Tuesday, August 13th. DA Davidson dropped their price objective on Deere & Company from $483.00 to $465.00 and set a “buy” rating for the company in a research report on Monday, May 20th. Finally, Evercore ISI lifted their price objective on Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a research report on Monday, August 19th. Fourteen equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Deere & Company currently has a consensus rating of “Hold” and a consensus target price of $414.11.

Insider Buying and Selling

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

Deere & Company Trading Up 1.0 %

Shares of DE stock traded up $3.92 on Friday, reaching $385.74. 1,413,160 shares of the stock were exchanged, compared to its average volume of 1,528,736. 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 one year low of $340.20 and a one year high of $423.35. The stock has a 50 day moving average price of $367.94 and a 200 day moving average price of $379.81. The stock has a market cap of $106.30 billion, a PE ratio of 11.61, a P/E/G ratio of 1.59 and a beta of 0.93.

Deere & Company (NYSE:DE) last posted its 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 return on equity of 42.26% and a net margin of 16.15%. The firm had revenue of $11.39 billion during the quarter, compared to analysts’ expectations of $10.94 billion. During the same period in the previous year, the firm earned $10.20 earnings per share. The company’s revenue was down 20.3% on a year-over-year basis. Equities research analysts forecast that Deere & Company will post 25.41 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. Investors of record on Monday, September 30th will be issued a dividend of $1.47 per share. The ex-dividend date is Monday, September 30th. This represents a $5.88 annualized dividend and a yield of 1.52%. Deere & Company’s payout ratio is presently 17.70%.

Deere & Company 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.