TrinityPoint Wealth LLC bought a new stake in Deere & Company (NYSE:DE) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 586 shares of the industrial products company’s stock, valued at approximately $207,000.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BKD Wealth Advisors LLC boosted its stake in Deere & Company by 3.7% during the 2nd quarter. BKD Wealth Advisors LLC now owns 781 shares of the industrial products company’s stock valued at $275,000 after purchasing an additional 28 shares during the last quarter. Creative Financial Designs Inc. ADV increased its stake in Deere & Company by 17.7% in the 2nd quarter. Creative Financial Designs Inc. ADV now owns 186 shares of the industrial products company’s stock worth $66,000 after buying an additional 28 shares in the last quarter. Personal CFO Solutions LLC grew its position in shares of Deere & Company by 5.0% during the second quarter. Personal CFO Solutions LLC now owns 614 shares of the industrial products company’s stock valued at $217,000 after purchasing an additional 29 shares in the last quarter. Glassman Wealth Services grew its position in shares of Deere & Company by 16.4% during the second quarter. Glassman Wealth Services now owns 206 shares of the industrial products company’s stock valued at $73,000 after purchasing an additional 29 shares in the last quarter. Finally, Laurel Wealth Advisors Inc. grew its position in Deere & Company by 1.7% in the first quarter. Laurel Wealth Advisors Inc. now owns 1,928 shares of the industrial products company’s stock worth $722,000 after acquiring an additional 32 shares in the last quarter. 67.02% of the stock is owned by institutional investors.
A number of equities analysts recently commented on DE shares. JPMorgan Chase & Co. reduced their price objective on shares of Deere & Company from $346.00 to $297.00 and set an “underweight” rating for the company in a research note on Monday, October 4th. Credit Suisse Group upped their price target on shares of Deere & Company from $439.00 to $440.00 and gave the stock an “outperform” rating in a research report on Monday, August 23rd. Morgan Stanley dropped their price objective on shares of Deere & Company from $450.00 to $442.00 and set an “overweight” rating for the company in a research note on Tuesday, July 13th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of Deere & Company from $404.00 to $383.00 and set a “hold” rating for the company in a research note on Monday, August 23rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, Deere & Company has a consensus rating of “Buy” and an average target price of $383.63.
Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, August 19th. The industrial products company reported $5.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.58 by $0.74. The business had revenue of $10.41 billion for the quarter, compared to the consensus estimate of $10.33 billion. Deere & Company had a net margin of 12.82% and a return on equity of 37.60%. Deere & Company’s quarterly revenue was up 32.5% on a year-over-year basis. During the same quarter last year, the company posted $2.57 earnings per share. As a group, sell-side analysts forecast that Deere & Company will post 18.9 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 8th. Shareholders of record on Thursday, September 30th will be issued a dividend of $1.05 per share. The ex-dividend date is Wednesday, September 29th. This is a boost from Deere & Company’s previous quarterly dividend of $0.90. This represents a $4.20 dividend on an annualized basis and a dividend yield of 1.28%. Deere & Company’s dividend payout ratio (DPR) is presently 48.33%.
In related news, insider Cory J. Reed sold 6,188 shares of Deere & Company stock in a transaction dated Wednesday, August 11th. The stock was sold at an average price of $385.00, for a total value of $2,382,380.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.31% of the company’s stock.
About Deere & Company
Deere & Co engages in the manufacturing and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf; Construction and Forestry; and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacturing of full line of agriculture and turf equipment and related service parts.
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