Hartford Investment Management Co. Increases Stake in Deere & Company (DE)
Hartford Investment Management Co. grew its position in Deere & Company (NYSE:DE) by 7.8% in the third quarter, according to its most recent filing with the SEC. The fund owned 68,793 shares of the industrial products company’s stock after acquiring an additional 4,960 shares during the period. Hartford Investment Management Co.’s holdings in Deere & Company were worth $8,640,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also recently made changes to their positions in DE. QCI Asset Management Inc. NY increased its holdings in Deere & Company by 18.8% in the second quarter. QCI Asset Management Inc. NY now owns 950 shares of the industrial products company’s stock valued at $117,000 after purchasing an additional 150 shares during the period. Arrow Financial Corp increased its holdings in Deere & Company by 5.2% in the second quarter. Arrow Financial Corp now owns 1,010 shares of the industrial products company’s stock valued at $125,000 after purchasing an additional 50 shares during the period. Harfst & Associates Inc. increased its holdings in Deere & Company by 44.2% in the second quarter. Harfst & Associates Inc. now owns 1,175 shares of the industrial products company’s stock valued at $145,000 after purchasing an additional 360 shares during the period. YorkBridge Wealth Partners LLC increased its holdings in Deere & Company by 1.1% in the second quarter. YorkBridge Wealth Partners LLC now owns 1,236 shares of the industrial products company’s stock valued at $154,000 after purchasing an additional 13 shares during the period. Finally, San Francisco Sentry Investment Group CA acquired a new stake in Deere & Company in the second quarter valued at $155,000. Institutional investors own 67.75% of the company’s stock.
Shares of Deere & Company (NYSE:DE) traded up $0.08 during trading on Friday, reaching $149.94. The company’s stock had a trading volume of 2,022,456 shares, compared to its average volume of 2,406,005. The company has a debt-to-equity ratio of 2.71, a quick ratio of 1.95 and a current ratio of 2.12. Deere & Company has a 52-week low of $100.05 and a 52-week high of $150.75. The firm has a market cap of $48,180.00, a P/E ratio of 22.50, a P/E/G ratio of 2.34 and a beta of 0.73.
Deere & Company (NYSE:DE) last issued its earnings results on Wednesday, November 22nd. The industrial products company reported $1.57 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.47 by $0.10. The company had revenue of $7.09 billion during the quarter, compared to the consensus estimate of $6.91 billion. Deere & Company had a return on equity of 26.31% and a net margin of 7.22%. The firm’s revenue for the quarter was up 25.6% compared to the same quarter last year. During the same period last year, the business posted $0.90 EPS. analysts forecast that Deere & Company will post 7.77 earnings per share for the current fiscal year.
A number of research firms recently weighed in on DE. BMO Capital Markets increased their price objective on Deere & Company to $165.00 and gave the company an “outperform” rating in a report on Tuesday. Credit Suisse Group restated a “buy” rating and issued a $162.00 price objective on shares of Deere & Company in a report on Thursday, November 23rd. Argus restated a “buy” rating and issued a $165.00 price objective on shares of Deere & Company in a report on Monday. They noted that the move was a valuation call. Stifel Nicolaus increased their price target on Deere & Company to $161.00 and gave the stock a “buy” rating in a report on Monday. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and set a $155.00 price target (up from $134.00) on shares of Deere & Company in a report on Wednesday, November 22nd. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $140.33.
In other news, insider Pentz Markwart Von sold 22,095 shares of the firm’s stock in a transaction dated Tuesday, September 19th. The stock was sold at an average price of $120.10, for a total value of $2,653,609.50. Following the completion of the sale, the insider now directly owns 51,626 shares in the company, valued at approximately $6,200,282.60. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider John C. May II sold 18,626 shares of the firm’s stock in a transaction dated Tuesday, October 24th. The shares were sold at an average price of $130.76, for a total value of $2,435,535.76. Following the completion of the sale, the insider now owns 37,462 shares of the company’s stock, valued at $4,898,531.12. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 189,766 shares of company stock valued at $25,367,448. 0.75% of the stock is currently owned by company insiders.
About Deere & Company
Deere & Company is engaged in equipment operations. The Company is engaged in providing financial services. The Company operates through three business segments: agriculture and turf, construction and forestry, and financial services. The agriculture and turf segment manufactures and distributes a line of agriculture and turf equipment and related service parts.
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