Tobam Has $198,000 Stock Holdings in Deere & Company (NYSE:DE)

Tobam decreased its holdings in Deere & Company (NYSE:DE) by 54.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 531 shares of the industrial products company’s stock after selling 631 shares during the quarter. Tobam’s holdings in Deere & Company were worth $198,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the stock. Norges Bank bought a new position in Deere & Company in the 4th quarter valued at $1,248,036,000. Parnassus Investments LLC grew its holdings in Deere & Company by 22.4% in the 4th quarter. Parnassus Investments LLC now owns 3,856,171 shares of the industrial products company’s stock worth $1,541,967,000 after acquiring an additional 705,771 shares during the last quarter. Swedbank AB bought a new position in Deere & Company during the 1st quarter valued at approximately $191,628,000. Vanguard Group Inc. raised its holdings in shares of Deere & Company by 1.2% during the first quarter. Vanguard Group Inc. now owns 21,988,363 shares of the industrial products company’s stock valued at $9,031,500,000 after acquiring an additional 263,709 shares in the last quarter. Finally, SG Americas Securities LLC boosted its stake in shares of Deere & Company by 3,064.1% during the 1st quarter. SG Americas Securities LLC now owns 175,386 shares of the industrial products company’s stock valued at $72,038,000 after purchasing an additional 169,843 shares in the last quarter. Institutional investors own 68.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on DE. BMO Capital Markets initiated coverage on Deere & Company in a research note on Friday, August 9th. They issued a “market perform” rating and a $400.00 target price on the stock. Citigroup decreased their target price on shares of Deere & Company from $395.00 to $370.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 13th. Evercore ISI increased their target price on Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a research report on Monday, August 19th. Stifel Nicolaus increased their price target on Deere & Company from $425.00 to $450.00 and gave the company a “buy” rating in a research note on Friday, May 17th. Finally, Morgan Stanley dropped their target price on Deere & Company from $450.00 to $425.00 and set an “overweight” rating for the company in a report on Monday. Fourteen research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $414.11.

Insider Transactions at Deere & Company

In other Deere & Company news, insider Cory J. Reed sold 13,370 shares of the company’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $377.63, for a total value of $5,048,913.10. Following the completion of the transaction, the insider now owns 41,642 shares in the company, valued at approximately $15,725,268.46. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.26% of the company’s stock.

Deere & Company Price Performance

Shares of Deere & Company stock traded down $0.78 during trading on Friday, hitting $381.04. 520,244 shares of the company were exchanged, compared to its average volume of 1,523,424. The stock has a market capitalization of $105.00 billion, a price-to-earnings ratio of 11.44, a P/E/G ratio of 1.59 and a beta of 0.93. The firm has a 50 day moving average price of $367.72 and a 200 day moving average price of $379.82. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $423.35. The company has a quick ratio of 1.80, a current ratio of 2.01 and a debt-to-equity ratio of 1.81.

Deere & Company (NYSE:DE) last released its quarterly earnings data 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. The business had revenue of $11.39 billion during the quarter, compared to the consensus estimate of $10.94 billion. Deere & Company had a return on equity of 42.26% and a net margin of 16.15%. The business’s revenue for the quarter was down 20.3% on a year-over-year basis. During the same period in the prior year, the firm posted $10.20 EPS. On average, equities analysts expect 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 will be paid on Friday, November 8th. Stockholders of record on Monday, September 30th will be given a dividend of $1.47 per share. The ex-dividend date is Monday, September 30th. This represents a $5.88 annualized dividend and a dividend yield of 1.54%. Deere & Company’s payout ratio is 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.