VELA Investment Management LLC Grows Position in Deere & Company $DE

Key Points

• VELA Investment Management LLC increased its stake in Deere & Company by 158.3% during the 2nd quarter, owning 2,588 shares valued at approximately $1.32 million.
• Deere & Company reported a quarterly earnings per share of $4.75, surpassing the consensus estimate of $4.62, with total revenue of $10.36 billion for the quarter.
• The company has announced a quarterly dividend of $1.62 per share, representing an annual yield of 1.4%, with the payment scheduled for November 10th.

VELA Investment Management LLC boosted its stake in shares of Deere & Company (NYSE:DE - Free Report) by 158.3% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,588 shares of the industrial products company's stock after purchasing an additional 1,586 shares during the period. VELA Investment Management LLC's holdings in Deere & Company were worth $1,316,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. OLD National Bancorp IN lifted its position in Deere & Company by 2.6% during the second quarter. OLD National Bancorp IN now owns 24,000 shares of the industrial products company's stock valued at $12,204,000 after purchasing an additional 610 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd raised its holdings in Deere & Company by 10.7% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 8,280 shares of the industrial products company's stock valued at $3,863,000 after acquiring an additional 798 shares during the period. Providence Capital Advisors LLC raised its holdings in Deere & Company by 2.1% during the first quarter. Providence Capital Advisors LLC now owns 14,639 shares of the industrial products company's stock valued at $6,871,000 after acquiring an additional 303 shares during the period. Bragg Financial Advisors Inc raised its holdings in Deere & Company by 12.7% during the first quarter. Bragg Financial Advisors Inc now owns 7,213 shares of the industrial products company's stock valued at $3,386,000 after acquiring an additional 813 shares during the period. Finally, ASR Vermogensbeheer N.V. bought a new stake in Deere & Company during the first quarter valued at about $13,588,000. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Trading Up 1.9%

Shares of DE stock opened at $456.98 on Friday. Deere & Company has a 12-month low of $387.03 and a 12-month high of $533.78. The company has a current ratio of 2.19, a quick ratio of 1.98 and a debt-to-equity ratio of 1.76. The stock's 50-day moving average price is $474.28 and its 200-day moving average price is $487.62. The stock has a market capitalization of $123.54 billion, a price-to-earnings ratio of 23.89, a price-to-earnings-growth ratio of 2.88 and a beta of 1.02.

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

Deere & Company Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Wall Street Zen raised Deere & Company from a "sell" rating to a "hold" rating in a report on Saturday, October 4th. Evercore ISI set a $491.00 price target on Deere & Company in a report on Tuesday, August 19th. UBS Group set a $535.00 price target on Deere & Company and gave the company a "buy" rating in a report on Friday. Oppenheimer decreased their price target on Deere & Company from $566.00 to $512.00 and set an "outperform" rating on the stock in a report on Thursday, September 18th. Finally, JPMorgan Chase & Co. decreased their price target on Deere & Company from $495.00 to $480.00 and set a "neutral" rating on the stock in a report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $517.35.

Deere & Company Company Profile

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.

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