164 Shares in Deere & Company (NYSE:DE) Acquired by Family Firm Inc.

Family Firm Inc. purchased a new stake in shares of Deere & Company (NYSE:DE) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 164 shares of the industrial products company’s stock, valued at approximately $61,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake 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 worth $9,031,500,000 after purchasing an additional 263,709 shares in the last quarter. Janus Henderson Group PLC raised its position in shares of Deere & Company by 0.5% in the first quarter. Janus Henderson Group PLC now owns 3,859,021 shares of the industrial products company’s stock valued at $1,585,028,000 after buying an additional 19,200 shares in the last quarter. Parnassus Investments LLC boosted its stake in shares of Deere & Company by 22.4% in the fourth quarter. Parnassus Investments LLC now owns 3,856,171 shares of the industrial products company’s stock valued at $1,541,967,000 after buying an additional 705,771 shares during the period. Norges Bank acquired a new stake in Deere & Company during the fourth quarter worth approximately $1,248,036,000. Finally, Dimensional Fund Advisors LP increased its stake in Deere & Company by 11.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,595,945 shares of the industrial products company’s stock worth $638,167,000 after acquiring an additional 160,369 shares during the period. 68.58% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Daiwa Capital Markets increased their target price on Deere & Company from $400.00 to $420.00 and gave the stock an “overweight” rating in a report on Wednesday, May 15th. Evercore ISI increased their price objective on shares of Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a research note on Monday, August 19th. Bank of America boosted their target price on shares of Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a research report on Friday, August 16th. TD Cowen increased their price target on shares of Deere & Company from $383.00 to $390.00 and gave the stock a “hold” rating in a research report on Friday, May 17th. Finally, Citigroup decreased their price objective on shares of Deere & Company from $395.00 to $370.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 13th. Fourteen investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Deere & Company currently has a consensus rating of “Hold” and an average price target of $415.50.

Deere & Company Stock Performance

Shares of Deere & Company stock opened at $381.18 on Friday. The stock has a market cap of $105.04 billion, a price-to-earnings ratio of 11.47, a P/E/G ratio of 1.59 and a beta of 0.93. Deere & Company has a twelve month low of $340.20 and a twelve month high of $423.35. The company’s fifty day moving average is $367.88 and its 200 day moving average is $379.93. 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 (NYSE:DE) last announced its earnings results on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, topping the consensus estimate of $5.63 by $0.66. The firm had revenue of $11.39 billion for the quarter, compared to the consensus estimate of $10.94 billion. Deere & Company had a return on equity of 42.26% and a net margin of 16.15%. The business’s quarterly revenue was down 20.3% compared to the same quarter last year. During the same period in the previous year, the business earned $10.20 EPS. Sell-side analysts forecast that Deere & Company will post 25.41 EPS for the current year.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 8th. Shareholders of record on Friday, June 28th were given a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date was Friday, June 28th. Deere & Company’s dividend payout ratio is presently 17.70%.

Insiders Place Their Bets

In other news, insider Cory J. Reed sold 13,370 shares of the company’s stock in a transaction on 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 directly 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 is available at the SEC website. Company insiders own 0.26% of the company’s stock.

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.