Deere & Company (NYSE:DE) Stock Holdings Decreased by Matthew 25 Management Corp

Matthew 25 Management Corp lowered its stake in Deere & Company (NYSE:DE) by 81.8% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 3,000 shares of the industrial products company’s stock after selling 13,500 shares during the period. Deere & Company accounts for approximately 0.4% of Matthew 25 Management Corp’s holdings, making the stock its 19th biggest holding. Matthew 25 Management Corp’s holdings in Deere & Company were worth $1,121,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of DE. True Wealth Design LLC boosted its holdings in shares of Deere & Company by 1,180.0% in the 4th quarter. True Wealth Design LLC now owns 64 shares of the industrial products company’s stock valued at $26,000 after buying an additional 59 shares during the period. Pineridge Advisors LLC boosted its holdings in shares of Deere & Company by 725.0% in the 1st quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock valued at $27,000 after buying an additional 58 shares during the period. Private Wealth Management Group LLC acquired a new position in shares of Deere & Company in the 4th quarter valued at about $29,000. Livelsberger Financial Advisory acquired a new position in shares of Deere & Company in the 4th quarter valued at about $30,000. Finally, Spartan Planning & Wealth Management acquired a new position in Deere & Company during the 4th quarter valued at about $33,000. Institutional investors own 68.58% of the company’s stock.

Insider Activity

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 shares were sold at an average price of $377.63, for a total transaction of $5,048,913.10. Following the sale, the insider now owns 41,642 shares in the company, valued at $15,725,268.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.26% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on DE shares. BMO Capital Markets started coverage on shares of Deere & Company in a research note on Friday, August 9th. They set a “market perform” rating and a $400.00 target price for the company. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a research note on Thursday, August 8th. 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, August 19th. Hsbc Global Res lowered shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 19th. Finally, Oppenheimer dropped their price target on shares of Deere & Company from $465.00 to $448.00 and set an “outperform” rating on the stock in a research report on Monday, July 22nd. Fourteen investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Deere & Company has a consensus rating of “Hold” and an average target price of $414.11.

Deere & Company Price Performance

Shares of NYSE DE traded down $2.13 during midday trading on Friday, reaching $381.56. The company’s stock had a trading volume of 1,670,319 shares, compared to its average volume of 1,536,021. The company has a current ratio of 2.07, a quick ratio of 1.87 and a debt-to-equity ratio of 1.85. The company has a 50 day moving average price of $369.04 and a 200 day moving average price of $380.35. Deere & Company has a one year low of $340.20 and a one year high of $417.46. The company has a market cap of $105.15 billion, a price-to-earnings ratio of 11.49, a price-to-earnings-growth ratio of 1.28 and a beta of 0.92.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, topping analysts’ consensus estimates of $5.63 by $0.66. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The business had revenue of $11.39 billion for the quarter, compared to the consensus estimate of $10.94 billion. During the same period in the previous year, the firm earned $10.20 EPS. The business’s revenue for the quarter was down 20.3% on a year-over-year basis. On average, equities research analysts expect that Deere & Company will post 25.09 EPS for the current year.

Deere & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Monday, September 30th will be issued a dividend of $1.47 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.54%. Deere & Company’s dividend payout ratio is currently 17.70%.

Deere & 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.