Deere & Company $DE Shares Acquired by Newbridge Financial Services Group Inc.

Newbridge Financial Services Group Inc. lifted its holdings in Deere & Company (NYSE:DE) by 3,077.8% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,430 shares of the industrial products company’s stock after purchasing an additional 1,385 shares during the period. Newbridge Financial Services Group Inc.’s holdings in Deere & Company were worth $727,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Mid American Wealth Advisory Group Inc. acquired a new position in shares of Deere & Company in the second quarter worth $25,000. Activest Wealth Management boosted its holdings in Deere & Company by 2,750.0% in the first quarter. Activest Wealth Management now owns 57 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 55 shares during the period. Howard Hughes Medical Institute purchased a new position in Deere & Company in the second quarter valued at $27,000. Marshall & Sullivan Inc. WA acquired a new position in Deere & Company during the 2nd quarter worth $38,000. Finally, Livelsberger Financial Advisory purchased a new stake in Deere & Company during the 2nd quarter worth about $39,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Sanford C. Bernstein reiterated a “market perform” rating on shares of Deere & Company in a research note on Tuesday, December 9th. Jefferies Financial Group lifted their price target on shares of Deere & Company from $440.00 to $475.00 and gave the stock a “hold” rating in a research note on Tuesday, December 9th. Oppenheimer boosted their price target on shares of Deere & Company from $512.00 to $531.00 and gave the stock an “outperform” rating in a report on Friday, November 28th. Daiwa Capital Markets reduced their price objective on shares of Deere & Company from $530.00 to $520.00 and set an “outperform” rating on the stock in a report on Tuesday, December 2nd. Finally, Citigroup lowered their target price on shares of Deere & Company from $525.00 to $515.00 and set a “neutral” rating for the company in a research note on Tuesday, October 7th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $523.70.

Insider Activity

In related news, CEO John C. May II sold 11,106 shares of the firm’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $500.08, for a total transaction of $5,553,888.48. Following the transaction, the chief executive officer owned 112,453 shares in the company, valued at $56,235,496.24. This trade represents a 8.99% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.29% of the stock is currently owned by company insiders.

Deere & Company Stock Up 2.0%

Shares of NYSE:DE opened at $485.35 on Monday. The firm has a 50 day simple moving average of $469.02 and a 200-day simple moving average of $487.41. Deere & Company has a twelve month low of $403.01 and a twelve month high of $533.78. The company has a current ratio of 2.22, a quick ratio of 2.01 and a debt-to-equity ratio of 1.68. The company has a market capitalization of $131.20 billion, a PE ratio of 26.22, a P/E/G ratio of 1.83 and a beta of 1.00.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Wednesday, November 26th. The industrial products company reported $3.93 EPS for the quarter, missing the consensus estimate of $3.96 by ($0.03). Deere & Company had a return on equity of 20.54% and a net margin of 11.00%.The company had revenue of $12.39 billion for the quarter, compared to analyst estimates of $9.77 billion. During the same quarter in the prior year, the business earned $4.55 earnings per share. Deere & Company’s revenue was up 14.1% compared to the same quarter last year. On average, equities analysts predict that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 9th. Stockholders of record on Wednesday, December 31st will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Wednesday, December 31st. Deere & Company’s payout ratio is presently 35.01%.

Deere & Company Profile

Deere & Co engages in the manufacture 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 manufacture of a full line of agriculture and turf equipment and related service parts.