Americana Partners LLC Grows Position in Deere & Company (NYSE:DE)

Americana Partners LLC increased its holdings in Deere & Company (NYSE:DE) by 5.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,932 shares of the industrial products company’s stock after acquiring an additional 99 shares during the quarter. Americana Partners LLC’s holdings in Deere & Company were worth $722,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. True Wealth Design LLC raised its holdings in Deere & Company by 1,180.0% in the fourth quarter. True Wealth Design LLC now owns 64 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 59 shares in the last quarter. Pineridge Advisors LLC raised its holdings in Deere & Company by 725.0% in the first quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 58 shares in the last quarter. Private Wealth Management Group LLC bought a new position in Deere & Company in the fourth quarter worth about $29,000. Livelsberger Financial Advisory bought a new position in Deere & Company in the fourth quarter worth about $30,000. Finally, Spartan Planning & Wealth Management bought a new position in Deere & Company in the fourth quarter worth about $33,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Price Performance

Shares of NYSE DE opened at $385.74 on Friday. The business’s 50 day moving average price is $367.94 and its 200 day moving average price is $379.81. The firm has a market cap of $106.30 billion, a P/E ratio of 11.61, a P/E/G ratio of 1.59 and a beta of 0.93. Deere & Company has a 52 week low of $340.20 and a 52 week high of $423.35. The company has a quick ratio of 1.80, a current ratio of 2.01 and a debt-to-equity ratio of 1.81.

Deere & Company (NYSE:DE) last issued its earnings results 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. Deere & Company had a return on equity of 42.26% and a net margin of 16.15%. The firm had revenue of $11.39 billion for the quarter, compared to analyst estimates of $10.94 billion. During the same quarter in the prior year, the firm earned $10.20 earnings per share. Deere & Company’s revenue for the quarter was down 20.3% on a year-over-year basis. On average, sell-side analysts expect that Deere & Company will post 25.41 earnings per share for the current year.

Deere & Company Dividend Announcement

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

Insiders Place Their Bets

In other Deere & Company 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 value 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 transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on DE shares. TD Cowen boosted their target price on shares of Deere & Company from $383.00 to $390.00 and gave the stock a “hold” rating in a report on Friday, May 17th. DA Davidson cut their price objective on shares of Deere & Company from $483.00 to $465.00 and set a “buy” rating on the stock in a report on Monday, May 20th. Morgan Stanley cut their price objective on shares of Deere & Company from $450.00 to $425.00 and set an “overweight” rating on the stock in a report on Monday, August 26th. HSBC downgraded shares of Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, August 19th. Finally, Evercore ISI upped their price objective on shares of Deere & Company from $371.00 to $378.00 and gave the company an “in-line” rating in a report on Monday, August 19th. Fourteen investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $414.11.

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.