Deere & Company (NYSE:DE) Position Boosted by O Shaughnessy Asset Management LLC

O Shaughnessy Asset Management LLC lifted its stake in shares of Deere & Company (NYSE:DE) by 16.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 20,235 shares of the industrial products company’s stock after purchasing an additional 2,868 shares during the period. O Shaughnessy Asset Management LLC’s holdings in Deere & Company were worth $8,311,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. True Wealth Design LLC raised its stake in Deere & Company by 1,180.0% during the fourth quarter. True Wealth Design LLC now owns 64 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 59 shares during the period. Rakuten Securities Inc. acquired a new stake in shares of Deere & Company in the fourth quarter valued at approximately $28,000. Naples Money Management LLC acquired a new stake in shares of Deere & Company in the fourth quarter valued at approximately $29,000. Private Wealth Management Group LLC acquired a new stake in shares of Deere & Company in the fourth quarter valued at approximately $29,000. Finally, Bfsg LLC acquired a new stake in shares of Deere & Company in the fourth quarter valued at approximately $30,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Analyst Ratings Changes

DE has been the topic of several analyst reports. Morgan Stanley raised their price target on shares of Deere & Company from $430.00 to $450.00 in a research note on Wednesday, May 15th. Stifel Nicolaus raised their price objective on shares of Deere & Company from $425.00 to $450.00 and gave the company a “buy” rating in a research note on Friday, May 17th. JPMorgan Chase & Co. lowered their price objective on shares of Deere & Company from $385.00 to $375.00 and set a “neutral” rating on the stock in a research note on Thursday, July 11th. Oppenheimer lowered their price objective on shares of Deere & Company from $465.00 to $448.00 and set an “outperform” rating on the stock in a research note on Monday. Finally, DA Davidson reduced their target price on shares of Deere & Company from $483.00 to $465.00 and set a “buy” rating for the company in a report on Monday, May 20th. Eleven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $426.71.

Insiders Place Their Bets

In other news, insider Cory J. Reed sold 13,370 shares of the business’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 owns 41,642 shares in the company, valued at approximately $15,725,268.46. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.26% of the company’s stock.

Deere & Company Stock Down 0.6 %

Shares of Deere & Company stock traded down $2.07 during midday trading on Wednesday, reaching $369.45. 821,045 shares of the company’s stock traded hands, compared to its average volume of 1,501,059. The company has a market cap of $101.81 billion, a price-to-earnings ratio of 11.18, a price-to-earnings-growth ratio of 1.54 and a beta of 0.93. The company’s 50 day simple moving average is $373.95 and its 200 day simple moving average is $383.96. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.80 and a current ratio of 2.01. Deere & Company has a 52 week low of $345.93 and a 52 week high of $450.00.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, May 16th. The industrial products company reported $8.53 earnings per share for the quarter, beating analysts’ consensus estimates of $7.86 by $0.67. The business had revenue of $13.61 billion for 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%. Deere & Company’s revenue for the quarter was down 15.4% on a year-over-year basis. During the same quarter last year, the firm earned $9.65 EPS. Equities analysts expect that Deere & Company will post 25.41 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 8th. Shareholders of record on Friday, June 28th will be given a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date is Friday, June 28th. Deere & Company’s dividend payout ratio is 17.70%.

About Deere & Company

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.