Vance Wealth Inc. Has $367,000 Stake in Deere & Company (NYSE:DE)

Vance Wealth Inc. lowered its position in Deere & Company (NYSE:DE) by 4.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 982 shares of the industrial products company’s stock after selling 46 shares during the period. Vance Wealth Inc.’s holdings in Deere & Company were worth $367,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of DE. Tompkins Financial Corp grew its holdings in Deere & Company by 2.6% during the 1st quarter. Tompkins Financial Corp now owns 981 shares of the industrial products company’s stock worth $403,000 after acquiring an additional 25 shares during the last quarter. Global Retirement Partners LLC increased its holdings in shares of Deere & Company by 0.7% in the first quarter. Global Retirement Partners LLC now owns 3,768 shares of the industrial products company’s stock valued at $1,548,000 after purchasing an additional 26 shares in the last quarter. Field & Main Bank increased its holdings in shares of Deere & Company by 0.7% in the first quarter. Field & Main Bank now owns 4,050 shares of the industrial products company’s stock valued at $1,663,000 after purchasing an additional 27 shares in the last quarter. Range Financial Group LLC raised its position in Deere & Company by 5.2% in the 1st quarter. Range Financial Group LLC now owns 548 shares of the industrial products company’s stock worth $225,000 after purchasing an additional 27 shares during the last quarter. Finally, Cooper Financial Group lifted its holdings in Deere & Company by 2.4% during the 1st quarter. Cooper Financial Group now owns 1,146 shares of the industrial products company’s stock worth $471,000 after buying an additional 27 shares in the last quarter. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Price Performance

NYSE:DE opened at $391.95 on Thursday. Deere & Company has a 52-week low of $340.20 and a 52-week high of $423.35. The company has a market cap of $108.01 billion, a P/E ratio of 11.80, a P/E/G ratio of 1.28 and a beta of 0.93. 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 stock’s 50-day simple moving average is $368.73 and its 200 day simple moving average is $380.18.

Deere & Company (NYSE:DE) last posted its quarterly 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 business had revenue of $11.39 billion for the quarter, compared to analysts’ expectations of $10.94 billion. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The firm’s revenue for the quarter was down 20.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $10.20 EPS. As a group, sell-side analysts forecast that Deere & Company will post 25.09 EPS for the current fiscal year.

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Monday, September 30th will be issued a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date is Monday, September 30th. Deere & Company’s dividend payout ratio is 17.70%.

Insiders Place Their Bets

In related news, insider Cory J. Reed sold 13,370 shares of the firm’s stock in a transaction dated 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 directly 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 available through this hyperlink. Company insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on DE shares. Bank of America upped their target price on shares of Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a research report on Friday, August 16th. HSBC lowered shares of Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, August 19th. Raymond James assumed coverage on shares of Deere & Company in a report on Friday, June 28th. They set an “outperform” rating and a $420.00 target price for the company. Citigroup cut their price target on Deere & Company from $395.00 to $370.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 13th. Finally, 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. Fourteen investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Deere & Company currently has a consensus rating of “Hold” and an average target price of $414.11.

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.