3,860 Shares in Deere & Company $DE Purchased by Field & Main Bank

Key Points

• Field & Main Bank purchased 3,860 Deere shares during the second quarter, valued at approximately $2.45 million. Institutional investors and hedge funds collectively own 68.58% of Deere’s stock.
• Deere reported quarterly adjusted earnings of $5.10 per share and revenue of $12.61 billion, exceeding analyst expectations; revenue increased 6.2% year over year.
• The company declared a quarterly dividend of $1.62 per share, equivalent to $6.48 annually and a 1.0% yield. Analysts maintain a consensus “Moderate Buy” rating with a $653.48 price target.

Field & Main Bank acquired a new stake in Deere & Company (NYSE:DE - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 3,860 shares of the industrial products company's stock, valued at approximately $2,449,000.

A number of other large investors also recently bought and sold shares of DE. Mowery & Schoenfeld Wealth Management LLC purchased a new stake in Deere & Company in the second quarter valued at approximately $27,000. Timmons Wealth Management LLC purchased a new position in shares of Deere & Company during the fourth quarter worth $29,000. Kilter Group LLC purchased a new position in shares of Deere & Company during the second quarter worth $29,000. McIlrath & Eck LLC acquired a new stake in shares of Deere & Company in the fourth quarter valued at $30,000. Finally, Solstein Capital LLC acquired a new stake in shares of Deere & Company in the second quarter valued at $30,000. Institutional investors and hedge funds own 68.58% of the company's stock.

Deere & Company Trading Up 1.3%

DE opened at $630.66 on Friday. Deere & Company has a 12 month low of $433.00 and a 12 month high of $674.19. The stock has a market capitalization of $170.24 billion, a price-to-earnings ratio of 35.04, a PEG ratio of 2.57 and a beta of 0.90. The company has a debt-to-equity ratio of 1.45, a current ratio of 2.10 and a quick ratio of 1.89. The business has a fifty day moving average price of $611.59 and a 200 day moving average price of $593.34.

Deere & Company (NYSE:DE - Get Free Report) last posted its quarterly earnings results on Thursday, August 20th. The industrial products company reported $5.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.69 by $0.41. The company had revenue of $12.61 billion for the quarter, compared to analyst estimates of $10.81 billion. Deere & Company had a return on equity of 18.10% and a net margin of 10.16%.Deere & Company's revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter last year, the company earned $4.75 EPS. Sell-side analysts expect that Deere & Company will post 18.11 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 9th. Investors of record on Wednesday, September 30th will be issued a $1.62 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $6.48 annualized dividend and a yield of 1.0%. Deere & Company's dividend payout ratio (DPR) is 36.00%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on DE shares. Bank of America decreased their target price on Deere & Company from $672.00 to $607.50 and set a "neutral" rating on the stock in a research note on Friday, May 22nd. UBS Group dropped their target price on Deere & Company from $732.00 to $728.00 and set a "buy" rating for the company in a research report on Friday, August 21st. Seaport Research Partners set a $570.00 price target on shares of Deere & Company in a research note on Friday, August 14th. Raymond James Financial reduced their price target on shares of Deere & Company from $765.00 to $700.00 and set an "outperform" rating on the stock in a research report on Friday, May 22nd. Finally, Wall Street Zen lowered shares of Deere & Company from a "hold" rating to a "sell" rating in a research note on Saturday, August 22nd. Fourteen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $653.48.

Deere & Company Company Profile

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company's principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.

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 - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source