Harfst & Associates Inc. Acquires 360 Shares of Deere & Company (DE)
Harfst & Associates Inc. grew its holdings in Deere & Company (NYSE:DE) by 44.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,175 shares of the industrial products company’s stock after purchasing an additional 360 shares during the quarter. Harfst & Associates Inc.’s holdings in Deere & were worth $145,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of DE. BlackRock Inc. boosted its stake in shares of Deere & by 2,432.6% in the 1st quarter. BlackRock Inc. now owns 16,715,452 shares of the industrial products company’s stock valued at $1,819,643,000 after purchasing an additional 16,055,453 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Deere & by 8.2% in the 1st quarter. Vanguard Group Inc. now owns 20,440,278 shares of the industrial products company’s stock valued at $2,225,128,000 after purchasing an additional 1,541,004 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Deere & by 242.6% in the 2nd quarter. Principal Financial Group Inc. now owns 1,450,533 shares of the industrial products company’s stock valued at $179,271,000 after purchasing an additional 1,027,175 shares during the last quarter. FMR LLC boosted its stake in shares of Deere & by 18.3% in the 2nd quarter. FMR LLC now owns 5,032,313 shares of the industrial products company’s stock valued at $621,943,000 after purchasing an additional 777,519 shares during the last quarter. Finally, SG Americas Securities LLC boosted its stake in shares of Deere & by 107.6% in the 1st quarter. SG Americas Securities LLC now owns 44,868 shares of the industrial products company’s stock valued at $4,884,000 after purchasing an additional 631,378 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors.
Shares of Deere & Company (NYSE DE) opened at 128.33 on Thursday. The firm has a market capitalization of $41.23 billion, a P/E ratio of 21.31 and a beta of 0.69. The stock has a 50 day moving average of $120.09 and a 200-day moving average of $119.70. Deere & Company has a 12-month low of $85.05 and a 12-month high of $132.50. Deere & also saw unusually large options trading on Monday. Stock investors purchased 731 call options on the company. This represents an increase of 255% compared to the average volume of 206 call options.
Deere & (NYSE:DE) last issued its earnings results on Friday, August 18th. The industrial products company reported $1.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.93 by $0.04. Deere & had a return on equity of 25.96% and a net margin of 6.81%. The company had revenue of $6.83 billion for the quarter, compared to analysts’ expectations of $6.92 billion. During the same period last year, the business earned $1.55 EPS. Deere &’s quarterly revenue was up 16.6% compared to the same quarter last year. On average, equities research analysts predict that Deere & Company will post $6.52 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Friday, September 29th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date of this dividend is Thursday, September 28th. Deere &’s dividend payout ratio is currently 40.20%.
Several research analysts have recently issued reports on the stock. Jefferies Group LLC reaffirmed a “hold” rating and issued a $125.00 target price on shares of Deere & in a research note on Wednesday, August 9th. Deutsche Bank AG reaffirmed a “hold” rating and issued a $139.00 target price (up previously from $135.00) on shares of Deere & in a research note on Friday, August 11th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $150.00 target price (up previously from $140.00) on shares of Deere & in a research note on Wednesday, August 16th. Robert W. Baird lowered shares of Deere & from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $140.00 to $130.00 in a research note on Friday, August 18th. Finally, Bank of America Corporation reduced their price objective on shares of Deere & from $145.00 to $130.00 and set a “neutral” rating on the stock in a research note on Monday, August 21st. Three equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and ten have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $127.76.
In related news, insider Max A. Guinn sold 5,000 shares of the stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $130.89, for a total value of $654,450.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Pentz Markwart Von sold 46,457 shares of the stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $116.74, for a total value of $5,423,390.18. Following the completion of the sale, the insider now directly owns 47,165 shares of the company’s stock, valued at $5,506,042.10. The disclosure for this sale can be found here. Over the last quarter, insiders sold 116,023 shares of company stock worth $14,185,962. 0.85% of the stock is owned by company insiders.
About Deere &
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.
Want to see what other hedge funds are holding DE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Deere & Company (NYSE:DE).
Receive News & Ratings for Deere & Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Deere & Company and related companies with Analyst Ratings Network's FREE daily email newsletter.