Hamel Associates Inc. Decreases Stock Holdings in Deere & Company $DE

Hamel Associates Inc. reduced its stake in shares of Deere & Company (NYSE:DE) by 56.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 785 shares of the industrial products company’s stock after selling 1,025 shares during the quarter. Hamel Associates Inc.’s holdings in Deere & Company were worth $399,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of DE. Vanguard Group Inc. grew its holdings in shares of Deere & Company by 1.4% in the 2nd quarter. Vanguard Group Inc. now owns 22,372,671 shares of the industrial products company’s stock worth $11,376,279,000 after acquiring an additional 309,081 shares during the period. Price T Rowe Associates Inc. MD boosted its position in Deere & Company by 4.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,876,013 shares of the industrial products company’s stock worth $3,227,258,000 after purchasing an additional 286,253 shares in the last quarter. Geode Capital Management LLC grew its holdings in Deere & Company by 2.1% in the second quarter. Geode Capital Management LLC now owns 5,541,778 shares of the industrial products company’s stock valued at $2,810,807,000 after purchasing an additional 111,627 shares during the last quarter. Norges Bank purchased a new position in shares of Deere & Company in the second quarter valued at $1,578,243,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Deere & Company by 2.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,815,817 shares of the industrial products company’s stock valued at $852,254,000 after buying an additional 35,075 shares in the last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on DE. JPMorgan Chase & Co. decreased their price objective on shares of Deere & Company from $495.00 to $480.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 14th. UBS Group reaffirmed a “buy” rating on shares of Deere & Company in a report on Tuesday. Oppenheimer increased their price target on shares of Deere & Company from $512.00 to $531.00 and gave the company an “outperform” rating in a research report on Friday. Sanford C. Bernstein lifted their price objective on Deere & Company from $487.00 to $521.00 and gave the stock a “market perform” rating in a research report on Thursday, November 13th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Deere & Company in a research note on Monday, November 24th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $519.45.

Insider Buying and Selling

In related news, CEO John C. May II sold 11,106 shares of the stock in a transaction dated 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 directly owned 112,453 shares in the company, valued at approximately $56,235,496.24. This represents a 8.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.29% of the company’s stock.

Deere & Company Stock Performance

Shares of DE opened at $465.95 on Friday. Deere & Company has a 1 year low of $403.01 and a 1 year high of $533.78. The company’s 50 day simple moving average is $467.10 and its 200 day simple moving average is $490.53. The company has a market capitalization of $125.96 billion, a price-to-earnings ratio of 24.36, a PEG ratio of 3.05 and a beta of 1.04. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.98 and a current ratio of 2.19.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Wednesday, November 26th. The industrial products company reported $3.93 earnings per share for the quarter, missing the consensus estimate of $3.96 by ($0.03). Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The business had revenue of $12.39 billion during the quarter, compared to analyst estimates of $9.77 billion. During the same quarter last year, the firm posted $4.55 earnings per share. The company’s revenue was up 14.1% on a year-over-year basis. On average, sell-side analysts predict that Deere & Company will post 19.32 EPS for the current year.

About Deere & Company

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.