Zhang Financial LLC Has $732,000 Stock Position in Deere & Company (NYSE:DE)

Zhang Financial LLC increased its position in Deere & Company (NYSE:DE) by 16.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,960 shares of the industrial products company’s stock after acquiring an additional 279 shares during the quarter. Zhang Financial LLC’s holdings in Deere & Company were worth $732,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. International Assets Investment Management LLC lifted its stake in shares of Deere & Company by 15.9% in the fourth quarter. International Assets Investment Management LLC now owns 2,102 shares of the industrial products company’s stock valued at $841,000 after buying an additional 288 shares during the period. Tennessee Valley Asset Management Partners acquired a new stake in Deere & Company during the fourth quarter worth $200,000. Western Wealth Management LLC raised its stake in shares of Deere & Company by 7.9% in the 4th quarter. Western Wealth Management LLC now owns 870 shares of the industrial products company’s stock valued at $348,000 after buying an additional 64 shares in the last quarter. HTLF Bank bought a new position in shares of Deere & Company during the 4th quarter worth about $617,000. Finally, Naples Money Management LLC bought a new position in Deere & Company during the fourth quarter worth about $29,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Trading Down 1.3 %

NYSE:DE opened at $372.91 on Tuesday. The company has a current ratio of 2.01, a quick ratio of 1.80 and a debt-to-equity ratio of 1.81. Deere & Company has a 1-year low of $340.20 and a 1-year high of $423.35. The firm has a market capitalization of $102.76 billion, a price-to-earnings ratio of 11.23, a PEG ratio of 1.59 and a beta of 0.93. The business’s 50-day moving average price is $367.56 and its two-hundred day moving average price is $380.21.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, beating analysts’ consensus estimates of $5.63 by $0.66. The business had revenue of $11.39 billion during the quarter, compared to analysts’ expectations of $10.94 billion. Deere & Company had a net margin of 16.15% and a return on equity of 42.26%. The firm’s quarterly revenue was down 20.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $10.20 EPS. On average, equities analysts expect that Deere & Company will post 25.41 earnings per share for the current year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 8th. Shareholders of record on Friday, June 28th were paid a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date of this dividend was Friday, June 28th. Deere & Company’s payout ratio is currently 17.70%.

Insider Transactions at Deere & Company

In other Deere & Company news, insider Cory J. Reed sold 13,370 shares of the stock in a transaction dated 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 transaction, the insider now owns 41,642 shares in the company, valued at approximately $15,725,268.46. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.26% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Bank of America raised their target price on Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a research report on Friday. Morgan Stanley boosted their target price on Deere & Company from $430.00 to $450.00 in a report on Wednesday, May 15th. TD Cowen lifted their price objective on Deere & Company from $383.00 to $390.00 and gave the company a “hold” rating in a research report on Friday, May 17th. Raymond James initiated coverage on Deere & Company in a research note on Friday, June 28th. They issued an “outperform” rating and a $420.00 target price for the company. Finally, Daiwa Capital Markets increased their price objective on shares of Deere & Company from $400.00 to $420.00 and gave the stock an “overweight” rating in a report on Wednesday, May 15th. Fourteen research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $421.90.

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.