Arvest Investments Inc. Increases Position in Deere & Company (NYSE:DE)

Arvest Investments Inc. boosted its holdings in shares of Deere & Company (NYSE:DE) by 9.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 846 shares of the industrial products company’s stock after acquiring an additional 76 shares during the period. Arvest Investments Inc.’s holdings in Deere & Company were worth $348,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Pinnacle Associates Ltd. grew its stake in shares of Deere & Company by 21.3% in the 4th quarter. Pinnacle Associates Ltd. now owns 5,355 shares of the industrial products company’s stock valued at $2,141,000 after buying an additional 939 shares during the period. Harbor Investment Advisory LLC grew its stake in shares of Deere & Company by 27.4% in the 1st quarter. Harbor Investment Advisory LLC now owns 1,730 shares of the industrial products company’s stock valued at $710,000 after buying an additional 372 shares during the period. Penserra Capital Management LLC grew its stake in shares of Deere & Company by 2.4% in the 3rd quarter. Penserra Capital Management LLC now owns 236,696 shares of the industrial products company’s stock valued at $89,322,000 after buying an additional 5,485 shares during the period. Summit Asset Management LLC grew its stake in shares of Deere & Company by 24.1% in the 4th 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 period. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Deere & Company by 2.0% in the 4th 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 buying an additional 31,074 shares during the period. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Price Performance

Shares of DE opened at $362.75 on Thursday. Deere & Company has a twelve month low of $353.15 and a twelve month high of $450.00. The firm’s fifty day simple moving average is $383.89 and its 200-day simple moving average is $386.94. The firm has a market capitalization of $99.96 billion, a price-to-earnings ratio of 10.92, a PEG ratio of 1.47 and a beta of 0.93. 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 announced its quarterly earnings data on Thursday, May 16th. The industrial products company reported $8.53 earnings per share for the quarter, beating analysts’ consensus estimates of $7.86 by $0.67. Deere & Company had a net margin of 16.15% and a return on equity of 42.26%. The business had revenue of $13.61 billion for the quarter, compared to analyst estimates of $13.29 billion. During the same period last year, the business earned $9.65 EPS. The company’s revenue was down 15.4% on a year-over-year basis. Equities analysts forecast that Deere & Company will post 25.59 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 8th. Investors of record on Friday, June 28th will be given a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date is Friday, June 28th. Deere & Company’s dividend payout ratio (DPR) is 17.70%.

Analyst Upgrades and Downgrades

DE has been the topic of several recent analyst reports. Raymond James initiated coverage on shares of Deere & Company in a report on Friday, June 28th. They issued an “outperform” rating and a $420.00 price objective on the stock. DA Davidson decreased their price objective on shares of Deere & Company from $483.00 to $465.00 and set a “buy” rating on the stock in a report on Monday, May 20th. Stifel Nicolaus upped their price objective on shares of Deere & Company from $425.00 to $450.00 and gave the stock a “buy” rating in a report on Friday, May 17th. Morgan Stanley upped their price objective on shares of Deere & Company from $430.00 to $450.00 in a report on Wednesday, May 15th. Finally, Oppenheimer restated an “outperform” rating and issued a $456.00 price objective on shares of Deere & Company in a report on Thursday, May 16th. Eleven investment analysts have rated the stock with a hold rating and ten have issued 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 target price of $427.66.

Insider Activity at Deere & Company

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

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.