Deere & Company (NYSE:DE) Shares Purchased by Granite Investment Partners LLC

Granite Investment Partners LLC boosted its stake in Deere & Company (NYSE:DE) by 0.1% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 51,406 shares of the industrial products company’s stock after acquiring an additional 37 shares during the quarter. Granite Investment Partners LLC’s holdings in Deere & Company were worth $19,207,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in DE. Gilbert & Cook Inc. grew its holdings 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 valued at $791,000 after purchasing an additional 102 shares during the period. 9258 Wealth Management LLC raised its position in shares of Deere & Company by 9.8% during the 4th quarter. 9258 Wealth Management LLC now owns 1,975 shares of the industrial products company’s stock valued at $790,000 after buying an additional 176 shares during the period. Gryphon Financial Partners LLC raised its position in shares of Deere & Company by 62.9% during the 4th quarter. Gryphon Financial Partners LLC now owns 1,430 shares of the industrial products company’s stock valued at $551,000 after buying an additional 552 shares during the period. Jump Financial LLC purchased a new stake in shares of Deere & Company during the 4th quarter valued at approximately $380,000. Finally, Gladstone Institutional Advisory LLC raised its position in shares of Deere & Company by 7.9% during the 4th quarter. Gladstone Institutional Advisory LLC now owns 1,284 shares of the industrial products company’s stock valued at $513,000 after buying an additional 94 shares during the period. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Price Performance

Shares of NYSE:DE opened at $409.53 on Friday. The company has a 50-day simple moving average of $375.43 and a 200-day simple moving average of $382.37. Deere & Company has a one year low of $340.20 and a one year high of $417.46. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.87 and a current ratio of 2.07. The stock has a market capitalization of $112.85 billion, a price-to-earnings ratio of 12.33, a PEG ratio of 1.29 and a beta of 0.92.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, beating analysts’ consensus estimates of $5.63 by $0.66. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The business had revenue of $11.39 billion during the quarter, compared to analysts’ expectations of $10.94 billion. During the same period in the prior year, the company earned $10.20 earnings per share. The business’s revenue was down 20.3% compared to the same quarter last year. On average, analysts predict that Deere & Company will post 25.07 EPS for the current year.

Deere & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Monday, September 30th will be paid a dividend of $1.47 per share. 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 1.44%. Deere & Company’s dividend payout ratio (DPR) is 17.70%.

Insider Transactions at Deere & Company

In other Deere & Company 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 transaction of $5,048,913.10. Following the transaction, the insider now directly owns 41,642 shares in the company, valued at $15,725,268.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

DE has been the topic of several analyst reports. BMO Capital Markets initiated coverage on shares of Deere & Company in a research report on Friday, August 9th. They set a “market perform” rating and a $400.00 price target on the stock. Citigroup reduced their price target on shares of Deere & Company from $395.00 to $370.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 13th. Oppenheimer reduced their price target 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. Bank of America lifted their target price on shares of Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a report on Friday, August 16th. Finally, Morgan Stanley dropped their target price on shares of Deere & Company from $450.00 to $425.00 and set an “overweight” rating for the company in a report on Monday, August 26th. Fourteen equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $409.88.

Deere & Company 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.