Foresight Group Ltd Liability Partnership Purchases 1,283 Shares of Deere & Company (NYSE:DE)

Foresight Group Ltd Liability Partnership grew its stake in shares of Deere & Company (NYSE:DE) by 113.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,418 shares of the industrial products company’s stock after buying an additional 1,283 shares during the period. Deere & Company accounts for approximately 0.4% of Foresight Group Ltd Liability Partnership’s portfolio, making the stock its 25th largest holding. Foresight Group Ltd Liability Partnership’s holdings in Deere & Company were worth $903,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Tompkins Financial Corp increased its position in shares of Deere & Company by 2.6% during the first quarter. Tompkins Financial Corp now owns 981 shares of the industrial products company’s stock valued at $403,000 after buying an additional 25 shares during the period. Field & Main Bank increased its position in shares of Deere & Company by 0.7% during the first quarter. Field & Main Bank now owns 4,050 shares of the industrial products company’s stock valued at $1,663,000 after buying an additional 27 shares during the period. Range Financial Group LLC grew its holdings in shares of Deere & Company by 5.2% during the first quarter. Range Financial Group LLC now owns 548 shares of the industrial products company’s stock worth $225,000 after purchasing an additional 27 shares in the last quarter. Cooper Financial Group grew its holdings in shares of Deere & Company by 2.4% during the first quarter. Cooper Financial Group now owns 1,146 shares of the industrial products company’s stock worth $471,000 after purchasing an additional 27 shares in the last quarter. Finally, First Foundation Advisors grew its holdings in shares of Deere & Company by 2.3% during the first quarter. First Foundation Advisors now owns 1,249 shares of the industrial products company’s stock worth $513,000 after purchasing an additional 28 shares in the last quarter. 68.58% of the stock is currently owned by institutional investors.

Deere & Company Stock Performance

NYSE:DE opened at $401.11 on Thursday. The firm has a market cap of $110.53 billion, a PE ratio of 12.07, a price-to-earnings-growth ratio of 1.29 and a beta of 0.92. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $417.46. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.87 and a current ratio of 2.07. The business has a 50 day moving average price of $374.47 and a 200-day moving average price of $382.18.

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 analysts’ consensus estimates of $5.63 by $0.66. The firm 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 business’s quarterly revenue was down 20.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $10.20 earnings per share. Equities research analysts predict that Deere & Company will post 25.07 earnings per share for the current year.

Deere & Company Announces Dividend

The business 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 dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date of this dividend is Monday, September 30th. Deere & Company’s dividend payout ratio (DPR) is presently 17.70%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on DE shares. HSBC lowered Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, August 19th. Hsbc Global Res lowered Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, August 19th. Citigroup cut their price objective on Deere & Company from $395.00 to $370.00 and set a “neutral” rating for the company in a report on Tuesday, August 13th. Oppenheimer cut their price objective on Deere & Company from $465.00 to $448.00 and set an “outperform” rating for the company in a report on Monday, July 22nd. Finally, Morgan Stanley cut their price objective on Deere & Company from $450.00 to $425.00 and set an “overweight” rating for the company in a report on Monday, August 26th. Fourteen analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Deere & Company has an average rating of “Hold” and a consensus price target of $409.88.

Insider Activity

In other news, insider Cory J. Reed sold 13,370 shares of the 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 completion of the sale, the insider now owns 41,642 shares of the company’s stock, valued at $15,725,268.46. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 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.