Deere & Company (NYSE:DE) Shares Sold by Hennessy Advisors Inc.

Hennessy Advisors Inc. decreased its holdings in shares of Deere & Company (NYSE:DE) by 2.8% in the 2nd quarter, Holdings Channel.com reports. The fund owned 6,900 shares of the industrial products company’s stock after selling 200 shares during the quarter. Hennessy Advisors Inc.’s holdings in Deere & Company were worth $2,578,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. True Wealth Design LLC increased its position in shares of 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 worth $26,000 after purchasing an additional 59 shares during the last quarter. Pineridge Advisors LLC boosted its stake in Deere & Company by 725.0% during the first quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock worth $27,000 after buying an additional 58 shares during the period. Private Wealth Management Group LLC purchased a new position in Deere & Company during the fourth quarter worth about $29,000. Bfsg LLC acquired a new stake in shares of Deere & Company during the fourth quarter valued at about $30,000. Finally, Livelsberger Financial Advisory purchased a new stake in shares of Deere & Company in the 4th quarter valued at approximately $30,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Performance

Shares of DE stock opened at $381.18 on Friday. The company has a market cap of $105.04 billion, a P/E ratio of 11.47, a PEG ratio of 1.59 and a beta of 0.93. The firm has a fifty day moving average price of $367.88 and a 200 day moving average price of $379.99. 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 has a 12 month low of $340.20 and a 12 month high of $423.35.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.63 by $0.66. Deere & Company had a return on equity of 42.26% and a net margin of 16.15%. The company had revenue of $11.39 billion during the quarter, compared to the consensus estimate of $10.94 billion. During the same period in the previous year, the business earned $10.20 EPS. Deere & Company’s revenue for the quarter was down 20.3% on a year-over-year basis. Sell-side analysts predict that Deere & Company will post 25.41 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 8th. Investors of record on Friday, June 28th were issued a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date of this dividend was Friday, June 28th. Deere & Company’s dividend payout ratio (DPR) is 17.70%.

Insider Buying and Selling at Deere & Company

In other news, insider Cory J. Reed sold 13,370 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $377.63, for a total transaction of $5,048,913.10. Following the completion of the sale, the insider now owns 41,642 shares in the company, valued at approximately $15,725,268.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.26% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Evercore ISI increased their price objective on shares of Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a research report on Monday, August 19th. TD Cowen boosted their price objective on Deere & Company from $383.00 to $390.00 and gave the company a “hold” rating in a report on Friday, May 17th. Stifel Nicolaus increased their target price on Deere & Company from $425.00 to $450.00 and gave the stock a “buy” rating in a research note on Friday, May 17th. JPMorgan Chase & Co. dropped their target price on Deere & Company from $375.00 to $360.00 and set a “neutral” rating for the company in a research report on Tuesday, August 13th. Finally, Citigroup reduced their price target on shares of Deere & Company from $395.00 to $370.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 13th. Fourteen equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Deere & Company currently has an average rating of “Hold” and an average target price of $415.50.

About Deere & Company

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.