Klingman & Associates LLC Raises Position in Deere & Company $DE

Klingman & Associates LLC boosted its holdings in Deere & Company (NYSE:DE) by 164.8% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,219 shares of the industrial products company’s stock after acquiring an additional 3,248 shares during the quarter. Klingman & Associates LLC’s holdings in Deere & Company were worth $2,386,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Southland Equity Partners LLC grew its holdings in shares of Deere & Company by 3.9% during the second quarter. Southland Equity Partners LLC now owns 534 shares of the industrial products company’s stock worth $271,000 after purchasing an additional 20 shares in the last quarter. Vivid Wealth Management LLC lifted its position in Deere & Company by 1.9% during the second quarter. Vivid Wealth Management LLC now owns 1,088 shares of the industrial products company’s stock valued at $553,000 after purchasing an additional 20 shares during the last quarter. Werba Rubin Papier Wealth Management grew its stake in Deere & Company by 3.0% in the 2nd quarter. Werba Rubin Papier Wealth Management now owns 676 shares of the industrial products company’s stock worth $344,000 after buying an additional 20 shares in the last quarter. Prairie Wealth Advisors Inc. increased its holdings in shares of Deere & Company by 2.1% in the 2nd quarter. Prairie Wealth Advisors Inc. now owns 964 shares of the industrial products company’s stock worth $492,000 after buying an additional 20 shares during the last quarter. Finally, Trilogy Capital Inc. raised its position in shares of Deere & Company by 1.3% during the 2nd quarter. Trilogy Capital Inc. now owns 1,692 shares of the industrial products company’s stock valued at $860,000 after buying an additional 21 shares in the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Analysts Set New Price Targets

DE has been the subject of several research reports. Robert W. Baird cut their target price on shares of Deere & Company from $488.00 to $467.00 and set a “neutral” rating for the company in a research report on Monday, October 13th. BMO Capital Markets reiterated a “market perform” rating and issued a $460.00 price objective on shares of Deere & Company in a report on Tuesday, December 9th. Oppenheimer increased their price objective on Deere & Company from $512.00 to $531.00 and gave the company an “outperform” rating in a research report on Friday, November 28th. Royal Bank Of Canada decreased their price objective on Deere & Company from $542.00 to $541.00 and set an “outperform” rating on the stock in a report on Friday, November 28th. Finally, Zacks Research raised Deere & Company from a “strong sell” rating to a “hold” rating in a research note on Wednesday, December 3rd. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $524.20.

Deere & Company Stock Up 1.6%

Shares of NYSE:DE opened at $498.82 on Wednesday. Deere & Company has a 12-month low of $404.42 and a 12-month high of $533.78. The company has a current ratio of 2.22, a quick ratio of 2.01 and a debt-to-equity ratio of 1.68. The stock’s 50-day moving average price is $475.91 and its 200-day moving average price is $481.45. The stock has a market capitalization of $134.90 billion, a P/E ratio of 26.95, a price-to-earnings-growth ratio of 1.88 and a beta of 1.00.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Wednesday, November 26th. The industrial products company reported $3.93 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.96 by ($0.03). The company had revenue of $12.39 billion for the quarter, compared to the consensus estimate of $9.77 billion. Deere & Company had a return on equity of 20.54% and a net margin of 11.00%.Deere & Company’s revenue was up 14.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.55 earnings per share. On average, equities analysts anticipate that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 9th. Stockholders of record on Wednesday, December 31st will be issued a $1.62 dividend. The ex-dividend date is Wednesday, December 31st. This represents a $6.48 annualized dividend and a dividend yield of 1.3%. Deere & Company’s dividend payout ratio (DPR) is currently 35.01%.

Insider Activity at Deere & Company

In related news, CEO John C. May II sold 41,472 shares of the company’s stock in a transaction on Thursday, January 8th. The shares were sold at an average price of $501.49, for a total transaction of $20,797,793.28. Following the completion of the sale, the chief executive officer directly owned 117,970 shares in the company, valued at $59,160,775.30. This represents a 26.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.29% of the stock is currently owned by insiders.

About Deere & Company

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.