Meyer Handelman Co. Invests $201,000 in Deere & Company (DE) Stock

Meyer Handelman Co. purchased a new stake in shares of Deere & Company (NYSE:DE) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,600 shares of the industrial products company’s stock, valued at approximately $201,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Marco Investment Management LLC grew its position in Deere & by 0.3% during the second quarter. Marco Investment Management LLC now owns 1,874 shares of the industrial products company’s stock valued at $232,000 after buying an additional 6 shares during the period. Nadler Financial Group Inc. grew its position in Deere & by 0.4% during the second quarter. Nadler Financial Group Inc. now owns 2,704 shares of the industrial products company’s stock valued at $334,000 after buying an additional 10 shares during the period. Blue Chip Partners Inc. grew its position in Deere & by 0.3% during the second quarter. Blue Chip Partners Inc. now owns 3,687 shares of the industrial products company’s stock valued at $456,000 after buying an additional 10 shares during the period. Northwest Quadrant Wealth Management LLC grew its position in Deere & by 0.4% during the second quarter. Northwest Quadrant Wealth Management LLC now owns 3,165 shares of the industrial products company’s stock valued at $418,000 after buying an additional 13 shares during the period. Finally, YorkBridge Wealth Partners LLC grew its position in Deere & by 1.1% during the second quarter. YorkBridge Wealth Partners LLC now owns 1,236 shares of the industrial products company’s stock valued at $154,000 after buying an additional 13 shares during the period. Institutional investors own 66.12% of the company’s stock.

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Several analysts recently commented on DE shares. Jefferies Group LLC restated a “hold” rating and set a $125.00 price target on shares of Deere & in a research report on Thursday, July 6th. BidaskClub upgraded shares of Deere & from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 19th. Goldman Sachs Group, Inc. (The) upgraded shares of Deere & from a “buy” rating to a “conviction-buy” rating and set a $129.75 price target on the stock in a research report on Monday, August 7th. Deutsche Bank AG restated a “hold” rating and set a $139.00 price target (up previously from $135.00) on shares of Deere & in a research report on Friday, August 11th. Finally, Bank of America Corporation lowered shares of Deere & from a “buy” rating to a “neutral” rating and set a $145.00 target price on the stock. in a research report on Tuesday, August 15th. Three analysts have rated the stock with a sell rating, fifteen have given a hold rating and nine have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $127.97.

In other Deere & news, insider Pentz Markwart Von sold 46,457 shares of the firm’s stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $116.74, for a total transaction of $5,423,390.18. Following the sale, the insider now directly owns 47,165 shares of the company’s stock, valued at approximately $5,506,042.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jean H. Gilles sold 8,015 shares of the firm’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $129.99, for a total transaction of $1,041,869.85. Following the sale, the insider now directly owns 70,635 shares in the company, valued at $9,181,843.65. The disclosure for this sale can be found here. Insiders have sold a total of 134,649 shares of company stock worth $16,621,498 over the last ninety days. 0.85% of the stock is owned by corporate insiders.

Deere & Company (NYSE:DE) opened at 133.25 on Friday. Deere & Company has a 52 week low of $87.38 and a 52 week high of $133.31. The firm’s 50-day moving average is $125.63 and its 200-day moving average is $122.05. The stock has a market capitalization of $42.81 billion, a P/E ratio of 22.13 and a beta of 0.69.

Deere & (NYSE:DE) last released its quarterly earnings results on Friday, August 18th. The industrial products company reported $1.97 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.93 by $0.04. Deere & had a net margin of 6.81% and a return on equity of 25.96%. 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 company earned $1.55 EPS. The firm’s revenue for the quarter 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 declared a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Friday, September 29th will be paid a dividend of $0.60 per share. The ex-dividend date is Thursday, September 28th. This represents a $2.40 annualized dividend and a dividend yield of 1.80%. Deere &’s dividend payout ratio is currently 40.20%.

Deere & Profile

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.

Institutional Ownership by Quarter for Deere & (NYSE:DE)

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