Transcend Capital Advisors LLC Has $296,000 Stock Position in Deere & Company (NYSE:DE)

Transcend Capital Advisors LLC increased its stake in Deere & Company (NYSE:DE) by 10.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 793 shares of the industrial products company’s stock after buying an additional 77 shares during the quarter. Transcend Capital Advisors LLC’s holdings in Deere & Company were worth $296,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in DE. Cape Investment Advisory Inc. grew its holdings in Deere & Company by 23.2% during the first quarter. Cape Investment Advisory Inc. now owns 982 shares of the industrial products company’s stock worth $403,000 after purchasing an additional 185 shares during the period. Keynote Financial Services LLC bought a new position in shares of Deere & Company during the 1st quarter worth approximately $239,000. Mosaic Family Wealth Partners LLC increased its holdings in shares of Deere & Company by 4.2% during the 1st quarter. Mosaic Family Wealth Partners LLC now owns 699 shares of the industrial products company’s stock worth $287,000 after acquiring an additional 28 shares during the last quarter. American Trust raised its stake in Deere & Company by 12.2% in the 1st quarter. American Trust now owns 12,426 shares of the industrial products company’s stock valued at $5,104,000 after acquiring an additional 1,348 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its holdings in Deere & Company by 16.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 7,087 shares of the industrial products company’s stock valued at $2,774,000 after purchasing an additional 1,018 shares during the last quarter. 68.58% of the stock is owned by institutional investors.

Deere & Company Price Performance

NYSE DE traded down $8.64 on Monday, hitting $345.11. 1,604,960 shares of the company’s stock were exchanged, compared to its average volume of 1,526,850. The stock has a 50-day moving average of $370.86 and a 200-day moving average of $382.96. The stock has a market cap of $95.10 billion, a price-to-earnings ratio of 10.35, a P/E/G ratio of 1.59 and a beta of 0.93. Deere & Company has a 52 week low of $340.20 and a 52 week high of $441.46. The company has a current ratio of 2.01, a quick ratio of 1.80 and a debt-to-equity ratio of 1.81.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, May 16th. The industrial products company reported $8.53 EPS for the quarter, topping analysts’ consensus estimates of $7.86 by $0.67. The firm had revenue of $13.61 billion during the quarter, compared to analysts’ expectations of $13.29 billion. Deere & Company had a net margin of 16.15% and a return on equity of 42.26%. The business’s revenue for the quarter was down 15.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $9.65 earnings per share. Analysts expect that Deere & Company will post 25.41 earnings per share for the current year.

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 8th. Investors of record on Friday, June 28th will be given a dividend of $1.47 per share. The ex-dividend date is Friday, June 28th. This represents a $5.88 dividend on an annualized basis and a yield of 1.70%. 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 dated 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 sale, the insider now directly owns 41,642 shares in the company, valued at $15,725,268.46. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Deere & Company from $385.00 to $375.00 and set a “neutral” rating on the stock in a research report on Thursday, July 11th. Stifel Nicolaus raised their price objective on shares of Deere & Company from $425.00 to $450.00 and gave the stock a “buy” rating in a research report on Friday, May 17th. Oppenheimer decreased their target price on Deere & Company from $465.00 to $448.00 and set an “outperform” rating on the stock in a research report on Monday, July 22nd. Morgan Stanley lifted their price target on Deere & Company from $430.00 to $450.00 in a report on Wednesday, May 15th. Finally, Citigroup initiated coverage on Deere & Company in a research note on Wednesday, June 26th. They issued a “neutral” rating and a $395.00 price target for the company. Eleven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $426.71.

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.