Obermeyer Wood Investment Counsel Lllp Has $11.78 Million Stake in Deere & Company (NYSE:DE)

Obermeyer Wood Investment Counsel Lllp increased its position in shares of Deere & Company (NYSE:DE) by 1,697.0% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,537 shares of the industrial products company’s stock after purchasing an additional 29,782 shares during the quarter. Obermeyer Wood Investment Counsel Lllp’s holdings in Deere & Company were worth $11,783,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Deere & Company by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 21,988,363 shares of the industrial products company’s stock valued at $9,031,500,000 after acquiring an additional 263,709 shares in the last quarter. Janus Henderson Group PLC raised its position in Deere & Company by 0.5% in the 1st quarter. Janus Henderson Group PLC now owns 3,859,021 shares of the industrial products company’s stock worth $1,585,028,000 after purchasing an additional 19,200 shares during the last quarter. Parnassus Investments LLC raised its position in shares of Deere & Company by 22.4% during the 4th quarter. Parnassus Investments LLC now owns 3,856,171 shares of the industrial products company’s stock valued at $1,541,967,000 after acquiring an additional 705,771 shares during the last quarter. Norges Bank acquired a new position in shares of Deere & Company in the 4th quarter valued at $1,248,036,000. Finally, Dimensional Fund Advisors LP boosted its position in shares of Deere & Company by 11.2% in the 4th 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 last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Price Performance

Shares of DE stock traded up $3.92 on Friday, hitting $385.74. 1,413,160 shares of the company’s stock were exchanged, compared to its average volume of 1,615,005. 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 stock has a market cap of $106.30 billion, a P/E ratio of 11.61, a price-to-earnings-growth ratio of 1.28 and a beta of 0.93. Deere & Company has a 12 month low of $340.20 and a 12 month high of $423.35. The company has a 50 day moving average of $367.94 and a 200 day moving average of $379.81.

Deere & Company (NYSE:DE) last released 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 company had revenue of $11.39 billion for the quarter, compared to the consensus estimate of $10.94 billion. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. Deere & Company’s revenue for the quarter was down 20.3% on a year-over-year basis. During the same quarter last year, the business posted $10.20 EPS. On average, equities research analysts predict that Deere & Company will post 25.09 EPS for the current year.

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Monday, September 30th will be paid a $1.47 dividend. The ex-dividend date is Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a yield of 1.52%. Deere & Company’s dividend payout ratio (DPR) is presently 17.70%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on DE. Raymond James started coverage on Deere & Company in a research note on Friday, June 28th. They issued an “outperform” rating and a $420.00 target price on the stock. HSBC cut shares of Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, August 19th. JPMorgan Chase & Co. reduced their price target on shares of Deere & Company from $375.00 to $360.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 13th. TD Cowen upped their price objective on shares of Deere & Company from $383.00 to $390.00 and gave the company a “hold” rating in a research report on Friday, May 17th. Finally, Evercore ISI boosted their target price on Deere & Company from $371.00 to $378.00 and gave the company an “in-line” rating in a research note on Monday, August 19th. Fourteen equities research analysts have rated the stock with a hold rating and eight have assigned 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 Activity

In related news, insider Cory J. Reed sold 13,370 shares of Deere & Company stock in a transaction on 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 completion of 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 is accessible through the SEC website. Corporate insiders own 0.26% of the company’s stock.

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.