Weatherly Asset Management L. P. Grows Holdings in Deere & Company (NYSE:DE)

Weatherly Asset Management L. P. increased its stake in Deere & Company (NYSE:DE) by 11.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,146 shares of the industrial products company’s stock after buying an additional 1,225 shares during the period. Weatherly Asset Management L. P.’s holdings in Deere & Company were worth $4,555,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. True Wealth Design LLC increased its position 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 purchasing an additional 59 shares during the last quarter. Pineridge Advisors LLC raised its stake in Deere & Company by 725.0% during the first quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock valued at $27,000 after buying an additional 58 shares in the last quarter. Private Wealth Management Group LLC acquired a new stake in Deere & Company during the fourth quarter valued at approximately $29,000. Livelsberger Financial Advisory bought a new position in Deere & Company during the 4th quarter worth approximately $30,000. Finally, Spartan Planning & Wealth Management acquired a new position in shares of Deere & Company in the 4th quarter worth approximately $33,000. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Price Performance

DE traded up $3.92 during trading on Friday, reaching $385.74. The stock had a trading volume of 1,413,160 shares, compared to its average volume of 1,615,005. The stock has a 50 day moving average of $367.94 and a two-hundred day moving average of $379.81. The company has a quick ratio of 1.87, a current ratio of 2.07 and a debt-to-equity ratio of 1.85. The firm has a market capitalization of $106.30 billion, a price-to-earnings ratio of 11.61, a price-to-earnings-growth ratio of 1.28 and a beta of 0.93. Deere & Company has a 1-year low of $340.20 and a 1-year high of $423.35.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 earnings per share for the quarter, beating the consensus estimate of $5.63 by $0.66. The business had revenue of $11.39 billion during the quarter, compared to analyst estimates of $10.94 billion. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The company’s revenue was down 20.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $10.20 earnings per share. As a group, equities analysts anticipate that Deere & Company will post 25.09 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Monday, September 30th will be paid a $1.47 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $5.88 annualized dividend and a dividend yield of 1.52%. Deere & Company’s dividend payout ratio is currently 17.70%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on DE shares. Bank of America lifted their price objective on shares of Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a report on Friday, August 16th. Hsbc Global Res lowered shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 19th. Daiwa Capital Markets lifted their target price on Deere & Company from $400.00 to $420.00 and gave the company an “overweight” rating in a research note on Wednesday, May 15th. JPMorgan Chase & Co. lowered their target price on Deere & Company from $375.00 to $360.00 and set a “neutral” rating for the company in a report on Tuesday, August 13th. Finally, 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 report on Monday, May 20th. Fourteen research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target 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 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 of the company’s stock, valued at $15,725,268.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.26% of the company’s stock.

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.