Waterloo Capital L.P. Buys 325 Shares of Deere & Company (NYSE:DE)

Waterloo Capital L.P. lifted its stake in shares of Deere & Company (NYSE:DE) by 23.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,717 shares of the industrial products company’s stock after acquiring an additional 325 shares during the quarter. Waterloo Capital L.P.’s holdings in Deere & Company were worth $642,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the stock. Tompkins Financial Corp increased its holdings in Deere & Company by 2.6% in the first quarter. Tompkins Financial Corp now owns 981 shares of the industrial products company’s stock worth $403,000 after purchasing an additional 25 shares in the last quarter. Field & Main Bank increased its holdings in Deere & Company by 0.7% in the first quarter. Field & Main Bank now owns 4,050 shares of the industrial products company’s stock worth $1,663,000 after purchasing an additional 27 shares in the last quarter. Range Financial Group LLC increased its holdings in Deere & Company by 5.2% in the first quarter. Range Financial Group LLC now owns 548 shares of the industrial products company’s stock worth $225,000 after purchasing an additional 27 shares in the last quarter. Cooper Financial Group increased its holdings in Deere & Company by 2.4% in the first quarter. Cooper Financial Group now owns 1,146 shares of the industrial products company’s stock worth $471,000 after purchasing an additional 27 shares in the last quarter. Finally, First Foundation Advisors increased its holdings in Deere & Company by 2.3% in the first quarter. First Foundation Advisors now owns 1,249 shares of the industrial products company’s stock worth $513,000 after purchasing an additional 28 shares in the last quarter. 68.58% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Hsbc Global Res downgraded Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, August 19th. Citigroup lowered their target price on Deere & Company from $395.00 to $370.00 and set a “neutral” rating for the company in a report on Tuesday, August 13th. BMO Capital Markets assumed coverage on Deere & Company in a research note on Friday, August 9th. They issued a “market perform” rating and a $400.00 price objective for the company. Evercore ISI raised their price objective on Deere & Company from $371.00 to $378.00 and gave the company an “in-line” rating in a research note on Monday, August 19th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a research note on Thursday, August 8th. Fourteen investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Deere & Company presently has a consensus rating of “Hold” and a consensus price target of $409.88.

Insider Buying and Selling

In related news, insider Cory J. Reed sold 13,370 shares of Deere & Company stock in a transaction on 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.26% of the stock is currently owned by corporate insiders.

Deere & Company Stock Up 0.8 %

Shares of NYSE:DE opened at $401.11 on Thursday. The stock has a market cap of $110.53 billion, a price-to-earnings ratio of 12.07, a PEG ratio of 1.29 and a beta of 0.92. The company has a quick ratio of 1.87, a current ratio of 2.07 and a debt-to-equity ratio of 1.85. Deere & Company has a 12-month low of $340.20 and a 12-month high of $417.46. The business’s 50 day moving average is $374.47 and its 200 day moving average is $382.18.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.63 by $0.66. The company had revenue of $11.39 billion for the quarter, compared to analysts’ expectations of $10.94 billion. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. Deere & Company’s quarterly revenue was down 20.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $10.20 earnings per share. On average, sell-side analysts forecast that Deere & Company will post 25.07 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

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

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.