Valeo Financial Advisors LLC Grows Stake in Deere & Company $DE

Valeo Financial Advisors LLC boosted its position in shares of Deere & Company (NYSE:DE) by 22.4% during the second quarter, Holdings Channel reports. The firm owned 10,078 shares of the industrial products company’s stock after buying an additional 1,843 shares during the quarter. Valeo Financial Advisors LLC’s holdings in Deere & Company were worth $5,124,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. NWF Advisory Services Inc. purchased a new position in shares of Deere & Company in the second quarter valued at $363,000. Reynders McVeigh Capital Management LLC grew its stake in Deere & Company by 44.5% in the 2nd quarter. Reynders McVeigh Capital Management LLC now owns 2,133 shares of the industrial products company’s stock valued at $1,085,000 after acquiring an additional 657 shares during the last quarter. SevenBridge Financial Group LLC grew its stake in Deere & Company by 13.9% in the 2nd quarter. SevenBridge Financial Group LLC now owns 7,763 shares of the industrial products company’s stock valued at $3,927,000 after acquiring an additional 948 shares during the last quarter. V. M. Manning & CO. Inc. purchased a new position in Deere & Company during the 2nd quarter valued at about $953,000. Finally, American Trust raised its position in Deere & Company by 1.0% during the second quarter. American Trust now owns 8,808 shares of the industrial products company’s stock worth $4,479,000 after acquiring an additional 90 shares during the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Insider Buying and Selling at Deere & Company

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 shares were sold at an average price of $500.08, for a total value of $5,553,888.48. Following the sale, the chief executive officer directly owned 112,453 shares of the company’s stock, valued at approximately $56,235,496.24. This trade represents a 8.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.29% of the stock is currently owned by insiders.

Deere & Company Trading Up 2.0%

Shares of Deere & Company stock opened at $485.35 on Monday. Deere & Company has a fifty-two week low of $403.01 and a fifty-two week high of $533.78. The business’s fifty day moving average is $469.02 and its two-hundred day moving average is $487.41. The company has a quick ratio of 2.01, a current ratio of 2.22 and a debt-to-equity ratio of 1.68. The firm has a market cap 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 released its 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 net margin of 11.00% and a return on equity of 20.54%. The business had revenue of $12.39 billion during the quarter, compared to analyst estimates of $9.77 billion. During the same quarter in the previous year, the company posted $4.55 earnings per share. The business’s revenue for the quarter was up 14.1% compared to the same quarter last year. Analysts anticipate that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

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

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Morgan Stanley reiterated an “overweight” rating and issued a $560.00 price target on shares of Deere & Company in a research report on Tuesday, December 9th. Wolfe Research lowered their target price on Deere & Company from $550.00 to $520.00 and set an “outperform” rating on the stock in a report on Friday, October 3rd. Royal Bank Of Canada cut their price target on Deere & Company from $542.00 to $541.00 and set an “outperform” rating for the company in a report on Friday, November 28th. UBS Group reaffirmed a “buy” rating on shares of Deere & Company in a research note on Tuesday, November 25th. Finally, Daiwa Capital Markets dropped their price objective on Deere & Company from $530.00 to $520.00 and set an “outperform” rating for the company in a research report on Tuesday, December 2nd. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, Deere & Company currently has an average rating of “Moderate Buy” and an average target price of $523.70.

Deere & Company 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.