Mainsail Financial Group LLC Boosts Stock Holdings in Deere & Company (NYSE:DE)

Mainsail Financial Group LLC boosted its stake in shares of Deere & Company (NYSE:DE) by 2.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,881 shares of the industrial products company’s stock after purchasing an additional 80 shares during the quarter. Mainsail Financial Group LLC’s holdings in Deere & Company were worth $1,184,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in DE. Pinnacle Associates Ltd. boosted its position in shares of Deere & Company by 21.3% during the 4th quarter. Pinnacle Associates Ltd. now owns 5,355 shares of the industrial products company’s stock worth $2,141,000 after acquiring an additional 939 shares in the last quarter. Harbor Investment Advisory LLC lifted its position in shares of 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 worth $710,000 after buying an additional 372 shares during the last quarter. Penserra Capital Management LLC boosted its holdings in shares of Deere & Company by 2.4% in the 3rd quarter. Penserra Capital Management LLC now owns 236,696 shares of the industrial products company’s stock valued at $89,322,000 after buying an additional 5,485 shares in the last quarter. Summit Asset Management LLC grew its position in shares of Deere & Company by 24.1% in the 4th quarter. Summit Asset Management LLC now owns 1,030 shares of the industrial products company’s stock valued at $412,000 after buying an additional 200 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Deere & Company by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,570,773 shares of the industrial products company’s stock worth $628,105,000 after acquiring an additional 31,074 shares in the last quarter. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Stock Performance

NYSE DE opened at $362.79 on Thursday. The company has a quick ratio of 1.80, a current ratio of 2.01 and a debt-to-equity ratio of 1.81. Deere & Company has a fifty-two week low of $353.15 and a fifty-two week high of $450.00. The business has a fifty day moving average of $383.89 and a 200-day moving average of $386.94. The stock has a market cap of $99.97 billion, a price-to-earnings ratio of 10.92, a price-to-earnings-growth ratio of 1.47 and a beta of 0.93.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, May 16th. The industrial products company reported $8.53 earnings per share for the quarter, beating the consensus estimate of $7.86 by $0.67. The firm had revenue of $13.61 billion during the quarter, compared to the consensus estimate of $13.29 billion. Deere & Company had a net margin of 16.15% and a return on equity of 42.26%. The firm’s revenue for the quarter was down 15.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $9.65 EPS. As a group, analysts predict that Deere & Company will post 25.59 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 8th. Investors of record on Friday, June 28th will be paid a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a dividend yield of 1.62%. The ex-dividend date is Friday, June 28th. Deere & Company’s payout ratio is 17.70%.

Insider Buying and Selling

In other Deere & Company news, insider Cory J. Reed sold 13,370 shares of the business’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $377.63, for a total value of $5,048,913.10. Following the completion of the transaction, the insider now directly owns 41,642 shares in the company, valued at approximately $15,725,268.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.26% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on DE. Morgan Stanley raised their price objective on Deere & Company from $430.00 to $450.00 in a report on Wednesday, May 15th. Daiwa Capital Markets lifted their price target on Deere & Company from $400.00 to $420.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 15th. JPMorgan Chase & Co. lowered their target price on shares of Deere & Company from $425.00 to $385.00 and set a “neutral” rating on the stock in a research report on Friday, May 17th. Raymond James initiated coverage on shares of Deere & Company in a research report on Friday, June 28th. They issued an “outperform” rating and a $420.00 price target for the company. Finally, Stifel Nicolaus raised their price objective on shares of Deere & Company from $425.00 to $450.00 and gave the stock a “buy” rating in a research report on Friday, May 17th. Eleven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, Deere & Company currently has an average rating of “Hold” and a consensus price target of $427.66.

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.