Moneta Group Investment Advisors LLC Grows Holdings in Deere & Company (NYSE:DE)

Moneta Group Investment Advisors LLC increased its position in Deere & Company (NYSE:DE) by 38.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,991 shares of the industrial products company’s stock after acquiring an additional 833 shares during the quarter. Moneta Group Investment Advisors LLC’s holdings in Deere & Company were worth $360,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in DE. Fort Washington Investment Advisors Inc. OH grew its holdings in Deere & Company by 9.1% during the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 448,092 shares of the industrial products company’s stock valued at $71,623,000 after buying an additional 37,357 shares in the last quarter. Rehmann Capital Advisory Group grew its holdings in shares of Deere & Company by 11.3% in the first quarter. Rehmann Capital Advisory Group now owns 1,223 shares of the industrial products company’s stock valued at $195,000 after purchasing an additional 124 shares in the last quarter. Clarius Group LLC grew its holdings in shares of Deere & Company by 6.3% in the second quarter. Clarius Group LLC now owns 1,984 shares of the industrial products company’s stock valued at $329,000 after purchasing an additional 117 shares in the last quarter. Chemical Bank grew its holdings in shares of Deere & Company by 1.0% in the first quarter. Chemical Bank now owns 10,460 shares of the industrial products company’s stock valued at $1,672,000 after purchasing an additional 100 shares in the last quarter. Finally, Buckingham Asset Management LLC grew its holdings in shares of Deere & Company by 6.4% in the second quarter. Buckingham Asset Management LLC now owns 3,766 shares of the industrial products company’s stock valued at $624,000 after purchasing an additional 226 shares in the last quarter. 67.67% of the stock is owned by institutional investors.

In related news, COO John C. May II sold 16,468 shares of the firm’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $163.21, for a total value of $2,687,742.28. Following the completion of the sale, the chief operating officer now directly owns 60,550 shares in the company, valued at $9,882,365.50. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO John C. May II sold 5,228 shares of Deere & Company stock in a transaction on Friday, July 26th. The stock was sold at an average price of $170.00, for a total value of $888,760.00. Following the sale, the chief operating officer now owns 49,310 shares of the company’s stock, valued at $8,382,700. The disclosure for this sale can be found here. 0.71% of the stock is owned by company insiders.

A number of research firms recently weighed in on DE. Bank of America cut their target price on shares of Deere & Company from $185.00 to $175.00 and set a “buy” rating for the company in a report on Monday, August 19th. BMO Capital Markets reissued an “outperform” rating and issued a $175.00 target price (down from $195.00) on shares of Deere & Company in a report on Monday, May 27th. Credit Suisse Group reissued an “outperform” rating and issued a $197.00 target price (up from $176.00) on shares of Deere & Company in a report on Monday, August 19th. Stephens began coverage on shares of Deere & Company in a report on Wednesday, August 14th. They issued an “equal weight” rating and a $160.00 target price for the company. Finally, Citigroup reissued a “buy” rating and issued a $170.00 target price (down from $180.00) on shares of Deere & Company in a report on Thursday, May 16th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating to the company’s stock. Deere & Company presently has a consensus rating of “Hold” and a consensus target price of $166.89.

DE traded down $3.55 during trading on Thursday, reaching $161.60. The company had a trading volume of 99,172 shares, compared to its average volume of 2,046,669. The stock has a market cap of $49.86 billion, a P/E ratio of 17.20, a PEG ratio of 2.27 and a beta of 1.15. The business has a 50 day simple moving average of $155.88 and a 200-day simple moving average of $157.52. Deere & Company has a 52 week low of $128.32 and a 52 week high of $171.22. The company has a quick ratio of 1.73, a current ratio of 1.99 and a debt-to-equity ratio of 2.38.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Friday, August 16th. The industrial products company reported $2.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.80 by ($0.09). The company had revenue of $8.97 billion during the quarter, compared to the consensus estimate of $9.38 billion. Deere & Company had a return on equity of 27.75% and a net margin of 8.55%. The firm’s quarterly revenue was down 3.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.59 earnings per share. As a group, equities research analysts expect that Deere & Company will post 9.98 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Monday, September 30th will be given a $0.76 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $3.04 dividend on an annualized basis and a yield of 1.88%. Deere & Company’s dividend payout ratio is presently 32.37%.

Deere & Company Profile

Deere & Company manufactures and distributes various equipment worldwide. The company operates through three segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment offers agriculture and turf equipment, and related parts, including large, medium, and utility tractors; tractor loaders; combines, cotton pickers, cotton strippers, and sugarcane harvesters; harvesting front-end equipment; sugarcane loaders and pull-behind scrapers; and tillage, seeding, and application equipment.

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

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