National Asset Management Inc. Boosts Stock Position in Deere & Company (NYSE:DE)

National Asset Management Inc. grew its stake in shares of Deere & Company (NYSE:DE) by 23.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,934 shares of the industrial products company’s stock after acquiring an additional 2,815 shares during the period. National Asset Management Inc.’s holdings in Deere & Company were worth $5,269,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of DE. Geode Capital Management LLC raised its position in shares of Deere & Company by 3.3% in the first quarter. Geode Capital Management LLC now owns 4,741,641 shares of the industrial products company’s stock worth $1,768,939,000 after buying an additional 153,433 shares in the last quarter. Parnassus Investments CA raised its position in shares of Deere & Company by 1.0% in the first quarter. Parnassus Investments CA now owns 3,811,679 shares of the industrial products company’s stock worth $1,426,102,000 after buying an additional 38,969 shares in the last quarter. Nuveen Asset Management LLC raised its position in shares of Deere & Company by 24.4% in the first quarter. Nuveen Asset Management LLC now owns 2,662,032 shares of the industrial products company’s stock worth $995,972,000 after buying an additional 522,637 shares in the last quarter. Weitzel Financial Services Inc. raised its position in shares of Deere & Company by 35,664.3% in the second quarter. Weitzel Financial Services Inc. now owns 1,959,166 shares of the industrial products company’s stock worth $5,523,000 after buying an additional 1,953,688 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Deere & Company by 0.9% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,628,176 shares of the industrial products company’s stock worth $574,274,000 after buying an additional 14,248 shares in the last quarter. Hedge funds and other institutional investors own 67.02% of the company’s stock.

A number of research analysts recently commented on DE shares. Stifel Nicolaus increased their target price on Deere & Company from $405.00 to $430.00 and gave the company a “buy” rating in a research note on Monday, May 24th. Morgan Stanley reduced their target price on Deere & Company from $450.00 to $442.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 13th. Credit Suisse Group increased their target price on Deere & Company from $439.00 to $440.00 and gave the company an “outperform” rating in a research note on Monday, August 23rd. Deutsche Bank Aktiengesellschaft reduced their target price on Deere & Company from $404.00 to $383.00 and set a “hold” rating on the stock in a research note on Monday, August 23rd. Finally, BMO Capital Markets increased their target price on Deere & Company from $400.00 to $425.00 and gave the company a “market perform” rating in a research note on Tuesday, May 25th. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $365.52.

DE traded up $2.37 on Wednesday, hitting $358.35. The company had a trading volume of 4,633 shares, compared to its average volume of 1,726,012. The company has a debt-to-equity ratio of 2.05, a current ratio of 2.17 and a quick ratio of 1.93. Deere & Company has a 52-week low of $210.18 and a 52-week high of $400.34. The stock has a fifty day simple moving average of $364.40 and a 200-day simple moving average of $364.25. The firm has a market capitalization of $111.11 billion, a P/E ratio of 20.62, a P/E/G ratio of 0.91 and a beta of 1.06.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, August 19th. The industrial products company reported $5.32 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $4.58 by $0.74. Deere & Company had a net margin of 12.82% and a return on equity of 37.60%. The business had revenue of $10.41 billion during the quarter, compared to analyst estimates of $10.33 billion. During the same period last year, the business posted $2.57 earnings per share. Deere & Company’s quarterly revenue was up 32.5% compared to the same quarter last year. Equities research analysts expect that Deere & Company will post 18.9 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 8th. Shareholders of record on Thursday, September 30th will be issued a $1.05 dividend. The ex-dividend date is Wednesday, September 29th. This is a positive change from Deere & Company’s previous quarterly dividend of $0.90. This represents a $4.20 annualized dividend and a yield of 1.17%. Deere & Company’s dividend payout ratio (DPR) is 41.43%.

In other news, insider Cory J. Reed sold 6,188 shares of Deere & Company stock in a transaction that occurred on Wednesday, August 11th. The shares were sold at an average price of $385.00, for a total transaction of $2,382,380.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.31% of the stock is currently owned by company insiders.

Deere & Company Profile

Deere & Co engages in the manufacturing and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf; Construction and Forestry; and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacturing of full line of agriculture and turf equipment and related service parts.

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

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