Deere & Company (NYSE:DE) Shares Purchased by Powers Advisory Group LLC

Powers Advisory Group LLC boosted its stake in Deere & Company (NYSE:DE) by 2.3% in the 2nd quarter, Holdings Channel reports. The firm owned 2,306 shares of the industrial products company’s stock after purchasing an additional 51 shares during the period. Powers Advisory Group LLC’s holdings in Deere & Company were worth $862,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in DE. Norges Bank acquired a new stake in Deere & Company in the 4th quarter valued at approximately $1,248,036,000. Parnassus Investments LLC increased its holdings in Deere & Company by 22.4% in the 4th quarter. Parnassus Investments LLC now owns 3,856,171 shares of the industrial products company’s stock valued at $1,541,967,000 after purchasing an additional 705,771 shares during the last quarter. Swedbank AB acquired a new stake in Deere & Company in the 1st quarter valued at approximately $191,628,000. Vanguard Group Inc. increased its holdings in Deere & Company by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 21,988,363 shares of the industrial products company’s stock valued at $9,031,500,000 after purchasing an additional 263,709 shares during the last quarter. Finally, SG Americas Securities LLC increased its holdings in Deere & Company by 3,064.1% in the 1st quarter. SG Americas Securities LLC now owns 175,386 shares of the industrial products company’s stock valued at $72,038,000 after purchasing an additional 169,843 shares during the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Price Performance

Shares of DE stock traded up $4.59 during trading hours on Friday, hitting $381.18. The company’s stock had a trading volume of 1,189,659 shares, compared to its average volume of 1,540,044. The business has a fifty day moving average of $367.82 and a 200-day moving average of $380.02. The stock has a market cap of $105.04 billion, a price-to-earnings ratio of 11.41, a P/E/G ratio of 1.59 and a beta of 0.93. Deere & Company has a twelve month low of $340.20 and a twelve month high of $423.35. 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 (NYSE:DE) last released its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, beating 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 16.15% and a return on equity of 42.26%. The company’s quarterly revenue was down 20.3% on a year-over-year basis. During the same period in the prior year, the business earned $10.20 earnings per share. As a group, equities research analysts anticipate that Deere & Company will post 25.41 EPS for the current year.

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 8th. Investors of record on Friday, June 28th were paid a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a dividend yield of 1.54%. The ex-dividend date of this dividend was Friday, June 28th. Deere & Company’s payout ratio is 17.70%.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Oppenheimer dropped their price target on shares of Deere & Company from $465.00 to $448.00 and set an “outperform” rating for the company in a research note on Monday, July 22nd. TD Cowen boosted their price target on shares of Deere & Company from $383.00 to $390.00 and gave the stock a “hold” rating in a research note on Friday, May 17th. Evercore ISI boosted their price target on shares of Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a research note on Monday. HSBC cut shares of Deere & Company from a “buy” rating to a “hold” rating in a research report on Monday. Finally, Morgan Stanley lifted their price objective on shares of Deere & Company from $430.00 to $450.00 in a research report on Wednesday, May 15th. Fourteen equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $415.50.

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 transaction, the insider now owns 41,642 shares of the company’s stock, valued at $15,725,268.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.26% of the company’s stock.

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.