Deere & Company (NYSE:DE) Shares Bought by Cornerstone Wealth Management LLC

Cornerstone Wealth Management LLC lifted its position in shares of Deere & Company (NYSE:DE) by 1.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,873 shares of the industrial products company’s stock after purchasing an additional 41 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in Deere & Company were worth $1,180,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Morgan Stanley increased its stake in shares of Deere & Company by 1.3% in the 3rd quarter. Morgan Stanley now owns 5,089,159 shares of the industrial products company’s stock valued at $1,920,548,000 after purchasing an additional 65,006 shares in the last quarter. Parnassus Investments LLC grew its holdings in 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 purchasing an additional 705,771 shares during the period. Norges Bank purchased a new stake in shares of Deere & Company in the fourth quarter valued at approximately $1,248,036,000. Dimensional Fund Advisors LP raised its stake in shares of 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 buying an additional 160,369 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of 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 valued at $628,105,000 after buying an additional 31,074 shares in the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Deere & Company

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 completion of the transaction, the insider now owns 41,642 shares in the company, valued at approximately $15,725,268.46. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.26% of the stock is currently owned by corporate insiders.

Deere & Company Stock Down 0.6 %

Shares of NYSE:DE opened at $362.79 on Friday. The firm has a market capitalization of $99.97 billion, a PE ratio of 10.92, a price-to-earnings-growth ratio of 1.46 and a beta of 0.93. Deere & Company has a 1 year low of $353.15 and a 1 year high of $450.00. The company has a debt-to-equity ratio of 1.81, a current ratio of 2.01 and a quick ratio of 1.80. The firm’s 50-day moving average is $382.63 and its two-hundred day moving average is $386.61.

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

Deere & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 8th. Stockholders of record on Friday, June 28th will be given 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 dividend payout ratio (DPR) is presently 17.70%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on DE shares. 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 report on Wednesday, May 15th. DA Davidson dropped their target price on shares of Deere & Company from $483.00 to $465.00 and set a “buy” rating on the stock in a research report on Monday, May 20th. Raymond James assumed coverage on shares of Deere & Company in a research report on Friday, June 28th. They set an “outperform” rating and a $420.00 price target for the company. Stifel Nicolaus increased their target price on Deere & Company from $425.00 to $450.00 and gave the company a “buy” rating in a report on Friday, May 17th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $456.00 price target on shares of Deere & Company in a research note on Thursday, May 16th. Eleven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, Deere & Company presently has an average rating of “Hold” and an average price target of $427.66.

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.