Budros Ruhlin & Roe Inc. Buys New Stake in Deere & Company (NYSE:DE)

Budros Ruhlin & Roe Inc. bought a new stake in Deere & Company (NYSE:DE) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 598 shares of the industrial products company’s stock, valued at approximately $224,000.

A number of other institutional investors and hedge funds have also bought and sold shares of DE. Diamant Asset Management Inc. increased its position in shares of Deere & Company by 2.3% during the 1st quarter. Diamant Asset Management Inc. now owns 1,217 shares of the industrial products company’s stock valued at $455,000 after purchasing an additional 27 shares during the period. TCI Wealth Advisors Inc. increased its position in shares of Deere & Company by 2.2% during the 1st quarter. TCI Wealth Advisors Inc. now owns 1,327 shares of the industrial products company’s stock valued at $496,000 after purchasing an additional 29 shares during the period. Choate Investment Advisors increased its position in shares of Deere & Company by 0.8% during the 1st quarter. Choate Investment Advisors now owns 3,621 shares of the industrial products company’s stock valued at $1,355,000 after purchasing an additional 29 shares during the period. Foster Group Inc. increased its position in shares of Deere & Company by 2.4% during the 1st quarter. Foster Group Inc. now owns 1,296 shares of the industrial products company’s stock valued at $485,000 after purchasing an additional 30 shares during the period. Finally, ProVise Management Group LLC increased its position in shares of Deere & Company by 2.2% during the 1st quarter. ProVise Management Group LLC now owns 1,380 shares of the industrial products company’s stock valued at $516,000 after purchasing an additional 30 shares during the period. Hedge funds and other institutional investors own 66.56% of the company’s stock.

DE opened at $341.44 on Friday. Deere & Company has a 1-year low of $148.12 and a 1-year high of $400.34. The company has a quick ratio of 2.05, a current ratio of 2.29 and a debt-to-equity ratio of 2.21. The company has a market capitalization of $106.51 billion, a PE ratio of 23.53, a price-to-earnings-growth ratio of 0.99 and a beta of 1.04. The company has a 50 day simple moving average of $371.30.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, May 20th. The industrial products company reported $5.68 earnings per share for the quarter, beating the consensus estimate of $4.44 by $1.24. The company had revenue of $11 billion during the quarter, compared to analysts’ expectations of $10.27 billion. Deere & Company had a return on equity of 33.31% and a net margin of 11.51%. Deere & Company’s revenue for the quarter was up 33.7% compared to the same quarter last year. During the same period in the prior year, the business earned $2.11 earnings per share. Equities research analysts anticipate that Deere & Company will post 17.89 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, August 9th. Shareholders of record on Wednesday, June 30th will be given a $0.90 dividend. The ex-dividend date is Tuesday, June 29th. This represents a $3.60 dividend on an annualized basis and a yield of 1.05%. Deere & Company’s dividend payout ratio (DPR) is presently 41.43%.

Several equities analysts have recently issued reports on the company. Argus lifted their price target on Deere & Company from $280.00 to $380.00 and gave the company a “buy” rating in a research report on Tuesday, February 23rd. Wolfe Research assumed coverage on Deere & Company in a report on Monday, April 19th. They set an “outperform” rating and a $425.00 price objective on the stock. Stifel Nicolaus upped their price objective on shares of Deere & Company from $405.00 to $430.00 and gave the company a “buy” rating in a research note on Monday, May 24th. Credit Suisse Group upped their price objective on shares of Deere & Company from $403.00 to $427.00 and gave the company an “outperform” rating in a research note on Monday, May 24th. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upped their price objective on shares of Deere & Company from $400.00 to $415.00 and gave the company a “buy” rating in a research note on Friday, May 14th. Five analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Deere & Company currently has a consensus rating of “Buy” and an average target price of $352.22.

In other news, Director Tami A. Erwin acquired 275 shares of the firm’s stock in a transaction on Wednesday, June 2nd. The shares were purchased at an average cost of $359.61 per share, with a total value of $98,892.75. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO John C. May II sold 39,336 shares of the stock in a transaction that occurred on Wednesday, June 2nd. The shares were sold at an average price of $359.07, for a total transaction of $14,124,377.52. Following the sale, the chief executive officer now directly owns 78,949 shares in the company, valued at $28,348,217.43. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by corporate insiders.

Deere & Company Company Profile

Deere & Company, together with its subsidiaries, 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 provides various agriculture and turf equipment, and related service 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; tillage, seeding, and application equipment comprising sprayers, nutrient management, and soil preparation machinery; self-propelled forage harvesters and attachments, balers, and mowers; riding lawn equipment, golf course equipment, utility vehicles, and commercial mowing equipment along with associated implements; integrated agricultural solutions and precision technologies; and other outdoor power products.

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

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