Cardinal Capital Management Has $10.42 Million Stock Position in Deere & Company (NYSE:DE)

Cardinal Capital Management boosted its holdings in shares of Deere & Company (NYSE:DE) by 0.4% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 25,648 shares of the industrial products company’s stock after buying an additional 101 shares during the period. Deere & Company makes up about 2.1% of Cardinal Capital Management’s holdings, making the stock its 7th largest holding. Cardinal Capital Management’s holdings in Deere & Company were worth $10,424,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. University of Texas Texas AM Investment Managment Co. boosted its stake in Deere & Company by 1,475.0% during the first quarter. University of Texas Texas AM Investment Managment Co. now owns 63 shares of the industrial products company’s stock valued at $26,000 after buying an additional 59 shares during the period. Worth Asset Management LLC bought a new stake in Deere & Company during the first quarter worth about $28,000. Lansing Street Advisors lifted its stake in Deere & Company by 1,725.0% during the first quarter. Lansing Street Advisors now owns 73 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 69 shares during the last quarter. Barrett & Company Inc. bought a new stake in Deere & Company during the first quarter worth about $31,000. Finally, 25 LLC bought a new stake in Deere & Company during the first quarter worth about $34,000. Institutional investors own 66.27% of the company’s stock.

Deere & Company Stock Down 0.3 %

Shares of NYSE:DE opened at $410.77 on Tuesday. Deere & Company has a 1 year low of $328.62 and a 1 year high of $450.00. The company has a market cap of $118.30 billion, a PE ratio of 12.14, a P/E/G ratio of 0.93 and a beta of 1.07. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.98 and a quick ratio of 1.74. The stock’s 50-day moving average is $417.81 and its 200 day moving average is $398.87.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Friday, August 18th. The industrial products company reported $10.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.22 by $1.98. Deere & Company had a return on equity of 46.15% and a net margin of 16.36%. The company had revenue of $14.28 billion for the quarter, compared to the consensus estimate of $14.14 billion. During the same quarter in the previous year, the business earned $6.16 EPS. Deere & Company’s revenue was up 9.9% compared to the same quarter last year. Sell-side analysts anticipate that Deere & Company will post 33.9 EPS for the current year.

Deere & Company Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 8th. Shareholders of record on Friday, September 29th will be issued a dividend of $1.35 per share. This is an increase from Deere & Company’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.31%. Deere & Company’s dividend payout ratio is 14.78%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Robert W. Baird dropped their price target on Deere & Company from $512.00 to $445.00 in a research note on Monday, May 22nd. BMO Capital Markets dropped their price target on Deere & Company from $450.00 to $425.00 in a research note on Monday, June 5th. Morgan Stanley dropped their price target on Deere & Company from $537.00 to $517.00 in a research note on Monday, May 22nd. DA Davidson boosted their target price on Deere & Company from $492.00 to $510.00 and gave the company a “buy” rating in a research note on Tuesday, July 25th. Finally, Wells Fargo & Company lowered their target price on Deere & Company from $510.00 to $490.00 in a research note on Monday, May 22nd. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, Deere & Company presently has an average rating of “Moderate Buy” and a consensus price target of $459.90.

Insiders Place Their Bets

In other Deere & Company news, insider Cory J. Reed sold 4,680 shares of the company’s stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $449.75, for a total transaction of $2,104,830.00. Following the transaction, the insider now owns 36,563 shares in the company, valued at approximately $16,444,209.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Deere & Company news, insider Cory J. Reed sold 4,680 shares of the company’s stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $449.75, for a total transaction of $2,104,830.00. Following the transaction, the insider now owns 36,563 shares in the company, valued at approximately $16,444,209.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO John C. May II sold 52,967 shares of the company’s stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $416.02, for a total value of $22,035,331.34. Following the transaction, the chief executive officer now owns 109,126 shares in the company, valued at approximately $45,398,598.52. The disclosure for this sale can be found here. Company insiders own 0.26% of the company’s stock.

Deere & Company Company Profile

Deere & Company manufactures and distributes 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 mid-size tractors, combines, cotton pickers and strippers, sugarcane harvesters, harvesting front-end equipment, sugarcane loaders, 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.