Advisors Management Group Inc. ADV Increases Stock Position in Deere & Company $DE

Key Points

• Advisors Management Group Inc. ADV increased its stake in Deere & Company by 20.8%, holding 4,576 shares valued at approximately $2.3 million as of the latest SEC filing.
• Deere's recent earnings report revealed an EPS of $4.75, surpassing estimates, with quarterly revenue totaling $10.36 billion, down 9% from the previous year.
• The company announced a quarterly dividend of $1.62, with an ex-dividend date on September 30th, representing an annualized yield of 1.4%.

Advisors Management Group Inc. ADV grew its stake in shares of Deere & Company (NYSE:DE - Free Report) by 20.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,576 shares of the industrial products company's stock after acquiring an additional 787 shares during the quarter. Advisors Management Group Inc. ADV's holdings in Deere & Company were worth $2,327,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Brighton Jones LLC grew its position in Deere & Company by 39.1% during the fourth quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company's stock valued at $1,927,000 after buying an additional 1,278 shares during the period. Mascagni Wealth Management Inc. bought a new stake in Deere & Company during the fourth quarter valued at approximately $39,000. AdvisorNet Financial Inc grew its position in Deere & Company by 11.3% during the first quarter. AdvisorNet Financial Inc now owns 1,535 shares of the industrial products company's stock valued at $721,000 after buying an additional 156 shares during the period. GAMMA Investing LLC grew its position in Deere & Company by 61,215.9% during the first quarter. GAMMA Investing LLC now owns 1,753,022 shares of the industrial products company's stock valued at $822,781,000 after buying an additional 1,750,163 shares during the period. Finally, Parallel Advisors LLC grew its position in Deere & Company by 9.9% during the first quarter. Parallel Advisors LLC now owns 3,270 shares of the industrial products company's stock valued at $1,535,000 after buying an additional 295 shares during the period. Hedge funds and other institutional investors own 68.58% of the company's stock.

Deere & Company Price Performance

Shares of NYSE:DE opened at $463.93 on Friday. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.19 and a quick ratio of 1.98. Deere & Company has a 1-year low of $387.03 and a 1-year high of $533.78. The company has a market capitalization of $125.41 billion, a P/E ratio of 24.25, a P/E/G ratio of 3.00 and a beta of 1.00. The firm's 50 day simple moving average is $489.67 and its two-hundred day simple moving average is $489.66.

Deere & Company (NYSE:DE - Get Free Report) last released its earnings results on Thursday, August 14th. The industrial products company reported $4.75 EPS for the quarter, topping the consensus estimate of $4.62 by $0.13. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The firm had revenue of $10.36 billion for the quarter, compared to the consensus estimate of $10.33 billion. During the same quarter in the previous year, the firm earned $6.29 earnings per share. The company's quarterly revenue was down 9.0% compared to the same quarter last year. Research analysts expect that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Tuesday, September 30th will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Tuesday, September 30th. Deere & Company's payout ratio is 33.87%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on DE shares. Robert W. Baird cut their target price on shares of Deere & Company from $520.00 to $488.00 and set a "neutral" rating for the company in a research report on Friday, August 15th. Oppenheimer cut their target price on shares of Deere & Company from $566.00 to $512.00 and set an "outperform" rating for the company in a research report on Thursday, September 18th. DA Davidson lowered their price target on shares of Deere & Company from $595.00 to $580.00 and set a "buy" rating on the stock in a report on Monday, August 18th. JPMorgan Chase & Co. lowered their price target on shares of Deere & Company from $500.00 to $495.00 and set a "neutral" rating on the stock in a report on Tuesday, September 2nd. Finally, Melius Research raised shares of Deere & Company from a "hold" rating to a "strong-buy" rating in a report on Friday, June 6th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, Deere & Company currently has a consensus rating of "Moderate Buy" and a consensus target price of $518.06.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.