Deere & Company $DE Stake Boosted by WoodTrust Financial Corp

Key Points

• WoodTrust Financial increased its Deere & Company stake by 37.5% in the third quarter, bringing its holdings to 20,608 shares valued at approximately $13.84 million. Institutional investors collectively own 68.58% of Deere’s stock.
• Deere shares fell 3.1% to $632.16, while the company reported quarterly revenue of $12.61 billion and EPS of $5.10, beating analyst estimates and delivering 6.2% year-over-year revenue growth.
• Deere declared a quarterly dividend of $1.62 per share, equivalent to an annualized $6.48 dividend and a 1.0% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $688.10.

WoodTrust Financial Corp boosted its stake in shares of Deere & Company (NYSE:DE - Free Report) by 37.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 20,608 shares of the industrial products company's stock after buying an additional 5,622 shares during the period. Deere & Company comprises 1.7% of WoodTrust Financial Corp's investment portfolio, making the stock its 17th largest holding. WoodTrust Financial Corp's holdings in Deere & Company were worth $13,839,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. SHEPHERD WEALTH MANAGEMENT Ltd LIABILITY Co boosted its holdings in shares of Deere & Company by 3.2% in the second quarter. SHEPHERD WEALTH MANAGEMENT Ltd LIABILITY Co now owns 516 shares of the industrial products company's stock worth $308,000 after buying an additional 16 shares during the period. Anchyra Partners LLC raised its holdings in shares of Deere & Company by 0.5% during the first quarter. Anchyra Partners LLC now owns 3,191 shares of the industrial products company's stock valued at $1,797,000 after acquiring an additional 17 shares during the period. William B. Walkup & Associates Inc. lifted its position in shares of Deere & Company by 0.6% in the 1st quarter. William B. Walkup & Associates Inc. now owns 2,908 shares of the industrial products company's stock valued at $1,638,000 after acquiring an additional 17 shares in the last quarter. Concorde Asset Management LLC lifted its position in shares of Deere & Company by 3.0% in the 2nd quarter. Concorde Asset Management LLC now owns 581 shares of the industrial products company's stock valued at $369,000 after acquiring an additional 17 shares in the last quarter. Finally, MCF Advisors LLC boosted its stake in Deere & Company by 0.9% in the 2nd quarter. MCF Advisors LLC now owns 1,999 shares of the industrial products company's stock worth $1,271,000 after purchasing an additional 17 shares during the period. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Stock Down 3.1%

DE stock traded down $20.42 during midday trading on Friday, reaching $632.16. The company had a trading volume of 866,989 shares, compared to its average volume of 1,362,687. Deere & Company has a 1 year low of $433.00 and a 1 year high of $721.22. The company has a current ratio of 2.10, a quick ratio of 1.89 and a debt-to-equity ratio of 1.45. The company has a market capitalization of $170.44 billion, a P/E ratio of 35.12, a PEG ratio of 2.40 and a beta of 0.86. The company has a 50 day moving average of $654.41 and a two-hundred day moving average of $609.32.

Deere & Company (NYSE:DE - Get Free Report) last issued its 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. Deere & Company had a net margin of 10.16% and a return on equity of 18.10%. The company had revenue of $12.61 billion during the quarter, compared to analyst estimates of $10.81 billion. During the same quarter last year, the business posted $4.75 EPS. The company's revenue for the quarter was up 6.2% on a year-over-year basis. On average, equities research analysts expect that Deere & Company will post 18.12 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

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

Analyst Ratings Changes

DE has been the topic of several research analyst reports. Barclays lifted their price objective on shares of Deere & Company from $640.00 to $675.00 and gave the stock an "overweight" rating in a research report on Monday, August 24th. JPMorgan Chase & Co. raised their target price on Deere & Company from $585.00 to $625.00 and gave the stock a "neutral" rating in a research report on Thursday. UBS Group lowered their price target on Deere & Company from $732.00 to $728.00 and set a "buy" rating on the stock in a report on Friday, August 21st. Weiss Ratings raised Deere & Company from a "hold (c)" rating to a "hold (c+)" rating in a research report on Monday, September 21st. Finally, Raymond James Financial increased their price objective on Deere & Company from $700.00 to $730.00 and gave the stock an "outperform" rating in a research note on Monday, August 31st. Seventeen equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $688.10.

Deere & Company Company Profile

Deere & Company, commonly known as John Deere, is a global manufacturer of agricultural, construction, forestry and turf-care equipment. The company's products include tractors, combines, planters, sprayers, harvesting equipment, earthmoving machinery, forestry equipment, commercial and residential lawn-care products, and related technology solutions.

Deere operates through businesses serving production and precision agriculture, small agriculture and turf, and construction and forestry markets.

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