LGT Group Foundation Buys 647 Shares of Deere & Company (NYSE:DE)

LGT Group Foundation raised its stake in Deere & Company (NYSE:DE) by 230.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 928 shares of the industrial products company’s stock after purchasing an additional 647 shares during the period. LGT Group Foundation’s holdings in Deere & Company were worth $347,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. True Wealth Design LLC increased its stake 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 valued at $26,000 after purchasing an additional 59 shares in the last quarter. Pineridge Advisors LLC increased its position in shares of Deere & Company by 725.0% during the first quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 58 shares in the last quarter. Private Wealth Management Group LLC bought a new stake in shares of Deere & Company during the fourth quarter worth about $29,000. Livelsberger Financial Advisory bought a new stake in shares of Deere & Company during the fourth quarter worth about $30,000. Finally, Spartan Planning & Wealth Management bought a new stake in shares of Deere & Company during the fourth quarter worth about $33,000. 68.58% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Oppenheimer decreased their target price on shares of Deere & Company from $465.00 to $448.00 and set an “outperform” rating for the company in a research report on Monday, July 22nd. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a research report on Thursday, August 8th. HSBC downgraded shares of Deere & Company from a “buy” rating to a “hold” rating in a research report on Monday, August 19th. Stifel Nicolaus boosted their target price on shares of Deere & Company from $425.00 to $450.00 and gave the stock a “buy” rating in a research report on Friday, May 17th. Finally, JPMorgan Chase & Co. cut their price target on shares of Deere & Company from $375.00 to $360.00 and set a “neutral” rating on the stock in a report on Tuesday, August 13th. Fourteen equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Deere & Company presently has an average rating of “Hold” and an average price target of $414.11.

Deere & Company Stock Up 0.0 %

DE opened at $387.30 on Wednesday. The company has a quick ratio of 1.87, a current ratio of 2.07 and a debt-to-equity ratio of 1.85. The stock has a market cap of $105.97 billion, a price-to-earnings ratio of 11.66, a PEG ratio of 1.27 and a beta of 0.92. Deere & Company has a twelve month low of $340.20 and a twelve month high of $417.46. The company’s 50-day moving average price is $370.01 and its two-hundred day moving average price is $381.05.

Deere & Company (NYSE:DE) last released its earnings results 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 for the quarter, compared to analysts’ expectations of $10.94 billion. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The company’s quarterly revenue was down 20.3% on a year-over-year basis. During the same period in the previous year, the company earned $10.20 earnings per share. As a group, equities analysts expect that Deere & Company will post 25.07 earnings per share for the current year.

Deere & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Investors 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 1.52%. The ex-dividend date of this dividend is Monday, September 30th. Deere & Company’s payout ratio is currently 17.70%.

Insider Activity at Deere & Company

In related news, insider Cory J. Reed sold 13,370 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $377.63, for a total transaction of $5,048,913.10. Following the sale, the insider now directly owns 41,642 shares in the company, valued at approximately $15,725,268.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.26% of the stock is currently owned by corporate insiders.

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.