Deere & Company (NYSE:DE) Shares Purchased by Fulton Bank N.A.

Fulton Bank N.A. increased its position in shares of Deere & Company (NYSE:DE) by 3.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,756 shares of the industrial products company’s stock after acquiring an additional 110 shares during the quarter. Fulton Bank N.A.’s holdings in Deere & Company were worth $1,403,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of DE. Vanguard Group Inc. raised its holdings in Deere & Company by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 21,988,363 shares of the industrial products company’s stock valued at $9,031,500,000 after buying an additional 263,709 shares during the period. Janus Henderson Group PLC increased its stake in Deere & Company by 0.5% during the first quarter. Janus Henderson Group PLC now owns 3,859,021 shares of the industrial products company’s stock worth $1,585,028,000 after purchasing an additional 19,200 shares during the period. Parnassus Investments LLC increased its stake in Deere & Company by 22.4% during the fourth quarter. Parnassus Investments LLC now owns 3,856,171 shares of the industrial products company’s stock worth $1,541,967,000 after purchasing an additional 705,771 shares during the period. Norges Bank purchased a new stake in Deere & Company during the fourth quarter worth about $1,248,036,000. Finally, Dimensional Fund Advisors LP increased its stake in Deere & Company by 11.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,595,945 shares of the industrial products company’s stock worth $638,167,000 after purchasing an additional 160,369 shares during the period. Institutional investors and hedge funds own 68.58% of the company’s stock.

Insider Activity

In other news, insider Cory J. Reed sold 13,370 shares of the stock in a transaction that occurred 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 sale, 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.26% of the company’s stock.

Deere & Company Stock Up 0.4 %

DE traded up $1.22 on Tuesday, reaching $346.06. The company’s stock had a trading volume of 1,563,908 shares, compared to its average volume of 1,533,433. The stock has a 50 day moving average of $370.26 and a two-hundred day moving average of $382.70. The company has a quick ratio of 1.80, a current ratio of 2.01 and a debt-to-equity ratio of 1.81. The company has a market capitalization of $95.36 billion, a price-to-earnings ratio of 10.47, a P/E/G ratio of 1.59 and a beta of 0.93. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $441.46.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, May 16th. The industrial products company reported $8.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 return on equity of 42.26% and a net margin of 16.15%. The firm’s quarterly revenue was down 15.4% compared to the same quarter last year. During the same period in the prior year, the company posted $9.65 earnings per share. As a group, analysts forecast that Deere & Company will post 25.41 EPS for the current fiscal year.

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 8th. Stockholders of record on Friday, June 28th will be issued a $1.47 dividend. This represents a $5.88 annualized dividend and a dividend yield of 1.70%. The ex-dividend date of this dividend is Friday, June 28th. Deere & Company’s payout ratio is currently 17.70%.

Analysts Set New Price Targets

A number of brokerages have issued reports on DE. Raymond James began coverage on shares of Deere & Company in a research note on Friday, June 28th. They set an “outperform” rating and a $420.00 price target on the stock. Stifel Nicolaus boosted their price target on shares of Deere & Company from $425.00 to $450.00 and gave the stock a “buy” rating in a research note on Friday, May 17th. Daiwa Capital Markets boosted their price target on shares of Deere & Company from $400.00 to $420.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 15th. Morgan Stanley boosted their price target on shares of Deere & Company from $430.00 to $450.00 in a research note on Wednesday, May 15th. Finally, Citigroup initiated coverage on Deere & Company in a research report on Wednesday, June 26th. They set a “neutral” rating and a $395.00 price objective for the company. Eleven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $426.71.

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.