1,562 Shares in Deere & Company (NYSE:DE) Bought by LGT Fund Management Co Ltd.

LGT Fund Management Co Ltd. purchased a new position in Deere & Company (NYSE:DE) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,562 shares of the industrial products company’s stock, valued at approximately $584,000.

Other large investors have also bought and sold shares of the company. True Wealth Design LLC grew 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 during the period. Pineridge Advisors LLC grew 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 during the period. Private Wealth Management Group LLC acquired a new stake in Deere & Company in the fourth quarter worth $29,000. Livelsberger Financial Advisory acquired a new stake in Deere & Company in the fourth quarter worth $30,000. Finally, Spartan Planning & Wealth Management acquired a new stake in Deere & Company in the fourth quarter worth $33,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Cory J. Reed sold 13,370 shares of the business’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 value of $5,048,913.10. Following 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 Stock Performance

Shares of DE stock opened at $387.30 on Wednesday. The firm has a market cap of $105.97 billion, a price-to-earnings ratio of 11.66, a P/E/G ratio of 1.27 and a beta of 0.92. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.87 and a current ratio of 2.07. Deere & Company has a 52 week low of $340.20 and a 52 week high of $417.46. The firm’s 50-day simple moving average is $370.01 and its two-hundred day simple moving average is $381.05.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, topping the consensus estimate of $5.63 by $0.66. The business had revenue of $11.39 billion for the quarter, compared to analyst estimates of $10.94 billion. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The company’s revenue for the quarter was down 20.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $10.20 earnings per share. As a group, equities analysts forecast 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. Shareholders of record on Monday, September 30th will be given a $1.47 dividend. This represents a $5.88 annualized dividend and a yield of 1.52%. The ex-dividend date of this dividend is Monday, September 30th. Deere & Company’s dividend payout ratio is 17.70%.

Analyst Upgrades and Downgrades

DE has been the subject of a number of research reports. Evercore ISI raised their price target on shares of Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a report on Monday, August 19th. HSBC cut shares of Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, August 19th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a report on Thursday, August 8th. TD Cowen lifted their price objective on shares of Deere & Company from $383.00 to $390.00 and gave the company a “hold” rating in a report on Friday, May 17th. Finally, Stifel Nicolaus lifted their price objective on shares of Deere & Company from $425.00 to $450.00 and gave the company a “buy” rating in a report on Friday, May 17th. Fourteen investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $414.11.

About Deere & Company

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.