Advisory Services Network LLC Has $7.92 Million Position in Deere & Company (NYSE:DE)

Advisory Services Network LLC raised its position in Deere & Company (NYSE:DE) by 3.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 19,273 shares of the industrial products company’s stock after acquiring an additional 608 shares during the period. Advisory Services Network LLC’s holdings in Deere & Company were worth $7,916,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. Parnassus Investments LLC lifted its position in Deere & Company by 22.4% in 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 purchasing an additional 705,771 shares during the period. Norges Bank bought a new position in Deere & Company in the fourth quarter worth $1,248,036,000. Dimensional Fund Advisors LP lifted its position in Deere & Company by 11.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,595,945 shares of the industrial products company’s stock worth $638,167,000 after purchasing an additional 160,369 shares during the period. Charles Schwab Investment Management Inc. lifted its position 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 worth $628,105,000 after purchasing an additional 31,074 shares during the period. Finally, Fisher Asset Management LLC lifted its position in Deere & Company by 11.3% in the fourth quarter. Fisher Asset Management LLC now owns 1,481,458 shares of the industrial products company’s stock worth $592,391,000 after purchasing an additional 150,713 shares during the period. Institutional investors own 68.58% of the company’s stock.

Insider Transactions at Deere & Company

In other 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 transaction of $5,048,913.10. Following the sale, the insider now owns 41,642 shares in the company, valued at approximately $15,725,268.46. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.26% of the company’s stock.

Deere & Company Stock Up 1.4 %

Shares of DE traded up $4.98 on Friday, hitting $366.58. The company’s stock had a trading volume of 256,377 shares, compared to its average volume of 1,505,978. Deere & Company has a fifty-two week low of $345.93 and a fifty-two week high of $450.00. The company has a quick ratio of 1.80, a current ratio of 2.01 and a debt-to-equity ratio of 1.81. The firm’s fifty day moving average price is $378.79 and its 200-day moving average price is $385.38. The firm has a market capitalization of $101.02 billion, a price-to-earnings ratio of 10.89, a P/E/G ratio of 1.42 and a beta of 0.93.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, May 16th. The industrial products company reported $8.53 earnings per share for the quarter, topping analysts’ consensus estimates of $7.86 by $0.67. Deere & Company had a return on equity of 42.26% and a net margin of 16.15%. The firm had revenue of $13.61 billion during the quarter, compared to the consensus estimate of $13.29 billion. During the same quarter in the prior year, the firm posted $9.65 EPS. The business’s revenue was down 15.4% on a year-over-year basis. On average, equities research analysts expect that Deere & Company will post 25.56 EPS for the current year.

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 8th. Stockholders of record on Friday, June 28th will be paid a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date is Friday, June 28th. Deere & Company’s dividend payout ratio is currently 17.70%.

Analyst Ratings Changes

DE has been the topic of several recent analyst reports. Stifel Nicolaus boosted their target price on shares of Deere & Company from $425.00 to $450.00 and gave the company a “buy” rating in a research note on Friday, May 17th. Citigroup initiated coverage on shares of Deere & Company in a research note on Wednesday, June 26th. They issued a “neutral” rating and a $395.00 target price on the stock. Raymond James initiated coverage on shares of Deere & Company in a research note on Friday, June 28th. They issued an “outperform” rating and a $420.00 target price on the stock. JPMorgan Chase & Co. reduced their target price on shares of Deere & Company from $385.00 to $375.00 and set a “neutral” rating on the stock in a research note on Thursday. Finally, TD Cowen lifted their price target on Deere & Company from $383.00 to $390.00 and gave the company a “hold” rating in a report on Friday, May 17th. Eleven research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, Deere & Company has an average rating of “Hold” and an average target price of $427.13.

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.