Stonebrook Private Inc. Has $331,000 Position in Deere & Company (NYSE:DE)

Stonebrook Private Inc. lessened its holdings in Deere & Company (NYSE:DE) by 31.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 886 shares of the industrial products company’s stock after selling 405 shares during the period. Stonebrook Private Inc.’s holdings in Deere & Company were worth $331,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of DE. International Assets Investment Management LLC boosted its holdings in shares of Deere & Company by 15.9% during the fourth quarter. International Assets Investment Management LLC now owns 2,102 shares of the industrial products company’s stock worth $841,000 after purchasing an additional 288 shares during the period. Gilbert & Cook Inc. increased its stake in shares of Deere & Company by 5.4% in the fourth quarter. Gilbert & Cook Inc. now owns 1,978 shares of the industrial products company’s stock worth $791,000 after acquiring an additional 102 shares during the last quarter. 9258 Wealth Management LLC raised its holdings in shares of Deere & Company by 9.8% during the fourth quarter. 9258 Wealth Management LLC now owns 1,975 shares of the industrial products company’s stock worth $790,000 after acquiring an additional 176 shares in the last quarter. Gryphon Financial Partners LLC boosted its position in Deere & Company by 62.9% during the fourth quarter. Gryphon Financial Partners LLC now owns 1,430 shares of the industrial products company’s stock valued at $551,000 after purchasing an additional 552 shares during the last quarter. Finally, Wealthspire Advisors LLC grew its stake in Deere & Company by 25.0% in the fourth quarter. Wealthspire Advisors LLC now owns 1,994 shares of the industrial products company’s stock valued at $797,000 after purchasing an additional 399 shares in the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Insider Buying and Selling

In other news, insider Cory J. Reed sold 13,370 shares of the company’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $377.63, for a total value of $5,048,913.10. Following the sale, the insider now owns 41,642 shares of the company’s stock, valued at approximately $15,725,268.46. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.26% of the stock is owned by corporate insiders.

Analyst Ratings Changes

DE has been the subject of a number of recent research reports. Stifel Nicolaus raised their price target on Deere & Company from $425.00 to $450.00 and gave the stock a “buy” rating in a research note on Friday, May 17th. Raymond James assumed coverage on shares of Deere & Company in a research note on Friday, June 28th. They issued an “outperform” rating and a $420.00 target price for the company. Morgan Stanley dropped their price target on shares of Deere & Company from $450.00 to $425.00 and set an “overweight” rating on the stock in a research note on Monday, August 26th. Hsbc Global Res lowered shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 19th. Finally, Oppenheimer lowered their target price on shares of Deere & Company from $465.00 to $448.00 and set an “outperform” rating on the stock in a research report on Monday, July 22nd. Fourteen investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $414.11.

Deere & Company Stock Performance

DE stock traded down $2.13 during trading on Friday, reaching $381.56. 1,670,319 shares of the stock were exchanged, compared to its average volume of 1,536,021. The stock has a 50 day simple moving average of $369.04 and a 200-day simple moving average of $380.35. The company has a current ratio of 2.07, a quick ratio of 1.87 and a debt-to-equity ratio of 1.85. The company has a market capitalization of $105.15 billion, a P/E ratio of 11.49, a price-to-earnings-growth ratio of 1.28 and a beta of 0.92. Deere & Company has a twelve month low of $340.20 and a twelve month high of $417.46.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.63 by $0.66. The business had revenue of $11.39 billion for the quarter, compared to analysts’ expectations of $10.94 billion. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. Deere & Company’s quarterly revenue was down 20.3% on a year-over-year basis. During the same period in the previous year, the business posted $10.20 earnings per share. As a group, sell-side analysts anticipate that Deere & Company will post 25.09 earnings per share for the current year.

Deere & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Monday, September 30th will be issued a $1.47 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.54%. Deere & Company’s payout ratio is presently 17.70%.

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.