&Partners Raises Position in Deere & Company (NYSE:DE)

&PARTNERS increased its holdings in shares of Deere & Company (NYSE:DE - Free Report) by 56.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,032 shares of the industrial products company's stock after acquiring an additional 2,532 shares during the period. &PARTNERS's holdings in Deere & Company were worth $2,627,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Harbor Investment Advisory LLC grew its position in Deere & Company by 27.4% during the 1st quarter. Harbor Investment Advisory LLC now owns 1,730 shares of the industrial products company's stock valued at $710,000 after purchasing an additional 372 shares during the last quarter. Summit Asset Management LLC grew its holdings in shares of Deere & Company by 24.1% during the fourth quarter. Summit Asset Management LLC now owns 1,030 shares of the industrial products company's stock valued at $412,000 after buying an additional 200 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Deere & Company by 2.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,570,773 shares of the industrial products company's stock valued at $628,105,000 after acquiring an additional 31,074 shares in the last quarter. Brevan Howard Capital Management LP raised its holdings in Deere & Company by 857.9% in the 4th quarter. Brevan Howard Capital Management LP now owns 7,654 shares of the industrial products company's stock worth $3,061,000 after acquiring an additional 6,855 shares during the last quarter. Finally, Aviance Capital Partners LLC bought a new position in Deere & Company in the 1st quarter valued at approximately $2,783,000. Hedge funds and other institutional investors own 68.58% of the company's stock.

Wall Street Analysts Forecast Growth

DE has been the subject of a number of recent analyst reports. Bank of America boosted their target price on Deere & Company from $400.00 to $410.00 and gave the stock a "neutral" rating in a research report on Friday, August 16th. Raymond James began coverage on shares of Deere & Company in a report on Friday, June 28th. They set an "outperform" rating and a $420.00 price objective for the company. BMO Capital Markets initiated coverage on shares of Deere & Company in a research report on Friday, August 9th. They issued a "market perform" rating and a $400.00 target price for the company. Evercore ISI boosted their target price on shares of Deere & Company from $371.00 to $378.00 and gave the company an "in-line" rating in a research note on Monday. Finally, JPMorgan Chase & Co. dropped their price target on Deere & Company from $375.00 to $360.00 and set a "neutral" rating on the stock in a research note on Tuesday, August 13th. Fourteen equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $415.50.

Deere & Company Price Performance

DE traded up $4.59 during trading on Friday, hitting $381.18. 1,189,659 shares of the company traded hands, compared to its average volume of 1,540,044. The company has a market cap of $105.04 billion, a PE ratio of 11.47, a P/E/G ratio of 1.59 and a beta of 0.93. Deere & Company has a 1 year low of $340.20 and a 1 year high of $423.35. The company has a current ratio of 2.01, a quick ratio of 1.80 and a debt-to-equity ratio of 1.81. The stock's 50-day simple moving average is $367.88 and its two-hundred day simple moving average is $379.99.

Deere & Company (NYSE:DE - Get Free Report) last released its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share for the quarter, beating the consensus estimate of $5.63 by $0.66. The business had revenue of $11.39 billion during the quarter, compared to analysts' expectations of $10.94 billion. Deere & Company had a return on equity of 42.26% and a net margin of 16.15%. The firm's revenue for the quarter was down 20.3% compared to the same quarter last year. During the same quarter last year, the business posted $10.20 EPS. As a group, sell-side analysts anticipate that Deere & Company will post 25.41 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 8th. Investors of record on Friday, June 28th were given a $1.47 dividend. The ex-dividend date was Friday, June 28th. This represents a $5.88 annualized dividend and a yield of 1.54%. Deere & Company's dividend payout ratio is currently 17.70%.

Insiders Place Their Bets

In other news, insider Cory J. Reed sold 13,370 shares of the business's stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $377.63, for a total transaction of $5,048,913.10. Following the transaction, the insider now owns 41,642 shares of the company's stock, valued at approximately $15,725,268.46. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.26% of the stock is currently owned by insiders.

Deere & Company Company Profile

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.