Deere & Company $DE Shares Bought by Newbridge Financial Services Group Inc.

Newbridge Financial Services Group Inc. lifted its holdings in shares of Deere & Company (NYSE:DE) by 3,077.8% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,430 shares of the industrial products company’s stock after buying an additional 1,385 shares during the period. Newbridge Financial Services Group Inc.’s holdings in Deere & Company were worth $727,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Mid American Wealth Advisory Group Inc. acquired a new stake in Deere & Company during the 2nd quarter worth approximately $25,000. Activest Wealth Management raised its stake in shares of Deere & Company by 2,750.0% during the first quarter. Activest Wealth Management now owns 57 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 55 shares during the last quarter. Howard Hughes Medical Institute purchased a new stake in shares of Deere & Company during the second quarter worth approximately $27,000. Marshall & Sullivan Inc. WA acquired a new stake in shares of Deere & Company during the second quarter worth $38,000. Finally, Livelsberger Financial Advisory purchased a new position in Deere & Company in the 2nd quarter valued at $39,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Trading Up 2.0%

Shares of DE opened at $485.35 on Monday. Deere & Company has a twelve month low of $403.01 and a twelve month high of $533.78. The company has a current ratio of 2.22, a quick ratio of 2.01 and a debt-to-equity ratio of 1.68. The firm has a market capitalization of $131.20 billion, a P/E ratio of 26.22, a PEG ratio of 1.83 and a beta of 1.00. The firm’s 50-day moving average is $469.02 and its two-hundred day moving average is $487.41.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Wednesday, November 26th. The industrial products company reported $3.93 EPS for the quarter, missing the consensus estimate of $3.96 by ($0.03). The firm had revenue of $12.39 billion for the quarter, compared to analysts’ expectations of $9.77 billion. Deere & Company had a return on equity of 20.54% and a net margin of 11.00%.Deere & Company’s revenue was up 14.1% compared to the same quarter last year. During the same period last year, the firm earned $4.55 EPS. On average, research analysts predict that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, February 9th. Shareholders of record on Wednesday, December 31st will be given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Wednesday, December 31st. Deere & Company’s payout ratio is presently 35.01%.

Insiders Place Their Bets

In other news, CEO John C. May II sold 11,106 shares of the firm’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $500.08, for a total value of $5,553,888.48. Following the completion of the transaction, the chief executive officer owned 112,453 shares in the company, valued at $56,235,496.24. This trade represents a 8.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.29% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Oppenheimer upped their price objective on shares of Deere & Company from $512.00 to $531.00 and gave the stock an “outperform” rating in a research report on Friday, November 28th. Robert W. Baird cut their price target on shares of Deere & Company from $488.00 to $467.00 and set a “neutral” rating for the company in a report on Monday, October 13th. Jefferies Financial Group lifted their price objective on Deere & Company from $440.00 to $475.00 and gave the company a “hold” rating in a report on Tuesday, December 9th. DA Davidson reiterated a “buy” rating and set a $580.00 target price on shares of Deere & Company in a research report on Monday, December 1st. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Deere & Company in a report on Monday, December 8th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $523.70.

About Deere & Company

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.