Viewpoint Capital Management LLC Acquires 200 Shares of Deere & Company (NYSE:DE)

Viewpoint Capital Management LLC grew its holdings in Deere & Company (NYSE:DE) by 28.3% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 906 shares of the industrial products company’s stock after acquiring an additional 200 shares during the period. Viewpoint Capital Management LLC’s holdings in Deere & Company were worth $339,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of DE. Hixon Zuercher LLC boosted its holdings in Deere & Company by 8.6% in the second quarter. Hixon Zuercher LLC now owns 4,815 shares of the industrial products company’s stock worth $1,799,000 after purchasing an additional 381 shares in the last quarter. Legacy Advisors LLC lifted its position in shares of Deere & Company by 2.3% in the second quarter. Legacy Advisors LLC now owns 1,916 shares of the industrial products company’s stock worth $716,000 after buying an additional 43 shares during the last quarter. Rothschild Investment LLC acquired a new position in shares of Deere & Company during the 2nd quarter valued at about $2,884,000. United Capital Management of KS Inc. increased its holdings in shares of Deere & Company by 2.5% during the 2nd quarter. United Capital Management of KS Inc. now owns 16,028 shares of the industrial products company’s stock valued at $5,989,000 after acquiring an additional 398 shares during the last quarter. Finally, Intact Investment Management Inc. lifted its holdings in Deere & Company by 9.2% in the 2nd quarter. Intact Investment Management Inc. now owns 1,310 shares of the industrial products company’s stock worth $489,000 after purchasing an additional 110 shares during the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Insider Activity at Deere & Company

In other news, insider Cory J. Reed sold 13,370 shares of the company’s stock in a transaction dated Monday, June 24th. The shares were 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 of the company’s stock, valued at approximately $15,725,268.46. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.26% of the stock is owned by insiders.

Deere & Company Stock Up 1.0 %

DE opened at $385.74 on Friday. The company has a market capitalization of $106.30 billion, a P/E ratio of 11.61, a P/E/G ratio of 1.28 and a beta of 0.93. The company has a debt-to-equity ratio of 1.85, a current ratio of 2.07 and a quick ratio of 1.87. The firm’s fifty day moving average price is $367.94 and its two-hundred day moving average price is $379.81. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $423.35.

Deere & Company (NYSE:DE) last issued its earnings results 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 for the quarter, compared to analyst estimates of $10.94 billion. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The firm’s revenue was down 20.3% on a year-over-year basis. During the same period in the previous year, the business earned $10.20 EPS. On average, analysts anticipate that Deere & Company will post 25.09 EPS for the current 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 given a dividend of $1.47 per share. 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 (DPR) is presently 17.70%.

Analysts Set New Price Targets

DE has been the topic of several analyst reports. Hsbc Global Res downgraded Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, August 19th. Bank of America raised their target price on shares of Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a research note on Friday, August 16th. HSBC lowered shares of Deere & Company from a “buy” rating to a “hold” rating in a research report on Monday, August 19th. Morgan Stanley lowered their price target on Deere & Company from $450.00 to $425.00 and set an “overweight” rating on the stock in a research report on Monday, August 26th. Finally, DA Davidson dropped their price objective on Deere & Company from $483.00 to $465.00 and set a “buy” rating on the stock in a research note on Monday, May 20th. Fourteen equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, Deere & Company presently has an average rating of “Hold” and an average target price of $414.11.

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.