MidWestOne Financial Group Inc. Sells 78 Shares of Deere & Company (NYSE:DE)

MidWestOne Financial Group Inc. trimmed its position in Deere & Company (NYSE:DE) by 0.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,612 shares of the industrial products company’s stock after selling 78 shares during the quarter. Deere & Company comprises approximately 0.7% of MidWestOne Financial Group Inc.’s holdings, making the stock its 25th biggest position. MidWestOne Financial Group Inc.’s holdings in Deere & Company were worth $3,965,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in DE. Oppenheimer Asset Management Inc. boosted its stake in shares of Deere & Company by 20.5% in the second quarter. Oppenheimer Asset Management Inc. now owns 15,808 shares of the industrial products company’s stock worth $5,906,000 after acquiring an additional 2,692 shares during the period. Harbor Investment Advisory LLC grew its holdings in Deere & Company by 27.4% during the 1st quarter. Harbor Investment Advisory LLC now owns 1,730 shares of the industrial products company’s stock valued at $710,000 after buying an additional 372 shares in the last quarter. Brevan Howard Capital Management LP lifted its holdings in shares of Deere & Company by 857.9% in the fourth quarter. Brevan Howard Capital Management LP now owns 7,654 shares of the industrial products company’s stock worth $3,061,000 after buying an additional 6,855 shares in the last quarter. Aviance Capital Partners LLC bought a new position in shares of Deere & Company during the first quarter worth $2,783,000. Finally, Oxford Financial Group LTD. LLC grew its stake in Deere & Company by 2.9% during the fourth quarter. Oxford Financial Group LTD. LLC now owns 1,827 shares of the industrial products company’s stock valued at $731,000 after acquiring an additional 51 shares in the last quarter. Institutional investors own 68.58% of the company’s stock.

Deere & Company Trading Up 1.6 %

Shares of NYSE DE opened at $418.06 on Friday. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $419.63. 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 company has a market cap of $115.20 billion, a price-to-earnings ratio of 12.58, a PEG ratio of 1.36 and a beta of 0.92. The business’s 50 day moving average price is $379.51 and its 200-day moving average price is $384.04.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) 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 net margin of 14.69% and a return on equity of 36.71%. The business’s revenue was down 20.3% on a year-over-year basis. During the same period in the previous year, the firm earned $10.20 earnings per share. On average, sell-side analysts expect that Deere & Company will post 25.03 earnings per share for the current year.

Deere & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Monday, September 30th will be issued a dividend of $1.47 per share. The ex-dividend date is Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a yield of 1.41%. Deere & Company’s dividend payout ratio is currently 17.70%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Oppenheimer decreased their price target on shares of Deere & Company from $465.00 to $448.00 and set an “outperform” rating on the stock in a research note on Monday, July 22nd. Raymond James initiated coverage on Deere & Company in a research note on Friday, June 28th. They set an “outperform” rating and a $420.00 price target for the company. Evercore ISI lifted their price objective on Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a research note on Monday, August 19th. HSBC cut Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, August 19th. Finally, BMO Capital Markets started coverage on shares of Deere & Company in a report on Friday, August 9th. They issued a “market perform” rating and a $400.00 target price for the company. Thirteen analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, Deere & Company presently has an average rating of “Hold” and a consensus target price of $410.50.

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.