Mid Atlantic Financial Management Inc. ADV Raises Holdings in Deere & Company (NYSE:DE)

Mid Atlantic Financial Management Inc. ADV lifted its stake in Deere & Company (NYSE:DE) by 4.9% during the second quarter, Holdings Channel reports. The institutional investor owned 2,095 shares of the industrial products company’s stock after acquiring an additional 97 shares during the quarter. Mid Atlantic Financial Management Inc. ADV’s holdings in Deere & Company were worth $347,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Private Ocean LLC increased its stake in Deere & Company by 560.0% during the first quarter. Private Ocean LLC now owns 198 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 168 shares during the last quarter. Ellis Investment Partners LLC acquired a new stake in Deere & Company during the first quarter worth $33,000. Arcus Capital Partners LLC acquired a new stake in Deere & Company during the second quarter worth $33,000. Orrstown Financial Services Inc. increased its stake in Deere & Company by 116.0% during the second quarter. Orrstown Financial Services Inc. now owns 216 shares of the industrial products company’s stock worth $36,000 after acquiring an additional 116 shares during the last quarter. Finally, Nelson Roberts Investment Advisors LLC increased its stake in Deere & Company by 34.8% during the second quarter. Nelson Roberts Investment Advisors LLC now owns 271 shares of the industrial products company’s stock worth $45,000 after acquiring an additional 70 shares during the last quarter. Hedge funds and other institutional investors own 67.67% of the company’s stock.

Several research firms have issued reports on DE. Bank of America cut their target price on Deere & Company from $185.00 to $175.00 and set a “buy” rating for the company in a research note on Monday, August 19th. Stephens began coverage on Deere & Company in a research note on Wednesday, August 14th. They set an “equal weight” rating and a $160.00 target price for the company. Robert W. Baird cut their target price on Deere & Company from $170.00 to $150.00 and set a “positive” rating for the company in a research note on Tuesday, August 13th. Deutsche Bank lowered their price target on Deere & Company from $163.00 to $155.00 and set a “hold” rating for the company in a research report on Wednesday, August 14th. Finally, Wells Fargo & Co lowered their price target on Deere & Company from $185.00 to $170.00 and set an “outperform” rating for the company in a research report on Monday, August 19th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and thirteen have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $166.89.

NYSE:DE opened at $150.33 on Wednesday. The firm has a market cap of $47.35 billion, a PE ratio of 16.01, a price-to-earnings-growth ratio of 2.21 and a beta of 1.10. The stock has a fifty day moving average price of $158.35 and a 200 day moving average price of $157.91. Deere & Company has a 12-month low of $128.32 and a 12-month high of $171.22. The company has a current ratio of 1.99, a quick ratio of 1.73 and a debt-to-equity ratio of 2.38.

Deere & Company (NYSE:DE) last released its earnings results on Friday, August 16th. The industrial products company reported $2.71 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.80 by ($0.09). The company had revenue of $8.97 billion during the quarter, compared to analysts’ expectations of $9.38 billion. Deere & Company had a net margin of 8.55% and a return on equity of 27.75%. The company’s revenue for the quarter was down 3.4% on a year-over-year basis. During the same quarter last year, the business posted $2.59 earnings per share. Equities analysts forecast that Deere & Company will post 9.98 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Monday, September 30th will be issued a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a yield of 2.02%. Deere & Company’s dividend payout ratio (DPR) is presently 32.37%.

In other Deere & Company news, COO John C. May II sold 5,228 shares of Deere & Company stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $170.00, for a total transaction of $888,760.00. Following the completion of the sale, the chief operating officer now directly owns 49,310 shares of the company’s stock, valued at approximately $8,382,700. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO John C. May II sold 16,468 shares of Deere & Company stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $163.21, for a total value of $2,687,742.28. Following the sale, the chief operating officer now directly owns 60,550 shares of the company’s stock, valued at $9,882,365.50. The disclosure for this sale can be found here. Company insiders own 0.71% of the company’s stock.

Deere & Company Profile

Deere & Company manufactures and distributes various equipment worldwide. The company operates through three segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment offers agriculture and turf equipment, and related parts, including large, medium, and utility tractors; tractor loaders; combines, cotton pickers, cotton strippers, and sugarcane harvesters; harvesting front-end equipment; sugarcane loaders and pull-behind scrapers; and tillage, seeding, and application equipment.

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Institutional Ownership by Quarter for Deere & Company (NYSE:DE)

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