Oppenheimer & Co. Inc. Sells 1,705 Shares of Deere & Company (NYSE:DE)

Oppenheimer & Co. Inc. reduced its position in Deere & Company (NYSE:DE) by 5.8% in the 2nd quarter, Holdings Channel reports. The firm owned 27,626 shares of the industrial products company’s stock after selling 1,705 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Deere & Company were worth $10,322,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. True Wealth Design LLC lifted its position in Deere & Company by 1,180.0% during the 4th quarter. True Wealth Design LLC now owns 64 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 59 shares during the period. Pineridge Advisors LLC boosted its stake in Deere & Company by 725.0% in the first quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 58 shares during the last quarter. Private Wealth Management Group LLC bought a new stake in shares of Deere & Company during the 4th quarter valued at $29,000. Livelsberger Financial Advisory acquired a new position in shares of Deere & Company in the 4th quarter valued at $30,000. Finally, Spartan Planning & Wealth Management acquired a new stake in shares of Deere & Company during the fourth quarter worth $33,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Insider Transactions at Deere & Company

In related news, insider Cory J. Reed sold 13,370 shares of the firm’s stock in a transaction on 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 directly owns 41,642 shares of the company’s stock, valued at $15,725,268.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.26% of the company’s stock.

Deere & Company Stock Up 2.0 %

Deere & Company stock opened at $394.65 on Friday. The company has a current ratio of 2.07, a quick ratio of 1.87 and a debt-to-equity ratio of 1.85. Deere & Company has a 1-year low of $340.20 and a 1-year high of $417.46. The company has a fifty day simple moving average of $371.71 and a 200 day simple moving average of $381.36. The company has a market cap of $107.98 billion, a P/E ratio of 11.88, a price-to-earnings-growth ratio of 1.29 and a beta of 0.92.

Deere & Company (NYSE:DE) last posted 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 company had revenue of $11.39 billion during the quarter, compared to the consensus estimate of $10.94 billion. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The company’s quarterly revenue was down 20.3% on a year-over-year basis. During the same period in the prior year, the business posted $10.20 EPS. Research analysts anticipate that Deere & Company will post 25.07 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Monday, September 30th will be given a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a dividend yield of 1.49%. The ex-dividend date of this dividend is Monday, September 30th. Deere & Company’s dividend payout ratio (DPR) is 17.70%.

Analysts Set New Price Targets

DE has been the topic of several analyst reports. BMO Capital Markets began 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. Stifel Nicolaus boosted their price objective on shares of Deere & Company from $425.00 to $450.00 and gave the company a “buy” rating in a report on Friday, May 17th. Hsbc Global Res lowered shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, August 19th. Morgan Stanley decreased their price target on shares of Deere & Company from $450.00 to $425.00 and set an “overweight” rating for the company in a report on Monday, August 26th. Finally, TD Cowen raised their price objective on Deere & Company from $383.00 to $390.00 and gave the stock a “hold” rating in a research note on Friday, May 17th. Fourteen investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Deere & Company presently has an average rating of “Hold” and a consensus price target of $414.11.

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.