Sanctuary Advisors LLC Acquires New Holdings in Deere & Company (NYSE:DE)

Sanctuary Advisors LLC bought a new position in shares of Deere & Company (NYSE:DE) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 56,865 shares of the industrial products company’s stock, valued at approximately $22,367,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Oppenheimer Asset Management Inc. grew its stake in shares of Deere & Company by 20.5% in the second quarter. Oppenheimer Asset Management Inc. now owns 15,808 shares of the industrial products company’s stock worth $5,906,000 after purchasing an additional 2,692 shares during the last quarter. Harbor Investment Advisory LLC raised its position in Deere & Company by 27.4% during the 1st quarter. Harbor Investment Advisory LLC now owns 1,730 shares of the industrial products company’s stock worth $710,000 after purchasing an additional 372 shares during the last quarter. Brevan Howard Capital Management LP lifted its holdings in Deere & Company by 857.9% during the 4th quarter. Brevan Howard Capital Management LP now owns 7,654 shares of the industrial products company’s stock worth $3,061,000 after buying an additional 6,855 shares during the period. Aviance Capital Partners LLC bought a new stake in shares of Deere & Company in the 1st quarter valued at about $2,783,000. Finally, Oxford Financial Group LTD. LLC increased its stake in shares of Deere & Company by 2.9% in the fourth quarter. Oxford Financial Group LTD. LLC now owns 1,827 shares of the industrial products company’s stock valued at $731,000 after buying an additional 51 shares during the period. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Oppenheimer cut their price objective on Deere & Company from $465.00 to $448.00 and set an “outperform” rating on the stock in a research note on Monday, July 22nd. Citigroup dropped 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. Hsbc Global Res lowered shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 19th. HSBC lowered shares of Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, August 19th. Finally, Morgan Stanley decreased their price target on Deere & Company from $450.00 to $425.00 and set an “overweight” rating for the company in a report on Monday, August 26th. Thirteen investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Deere & Company has an average rating of “Hold” and a consensus target price of $410.50.

Deere & Company Price Performance

Shares of DE opened at $416.49 on Thursday. The business’s fifty day moving average is $382.11 and its 200 day moving average is $384.87. Deere & Company has a 12-month low of $340.20 and a 12-month high of $420.47. The company has a quick ratio of 1.87, a current ratio of 2.07 and a debt-to-equity ratio of 1.85. The stock has a market cap of $114.77 billion, a P/E ratio of 12.54, a P/E/G ratio of 1.36 and a beta of 0.92.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 earnings per share for the quarter, beating analysts’ consensus estimates of $5.63 by $0.66. The firm had revenue of $11.39 billion for the quarter, compared to analyst estimates of $10.94 billion. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The business’s quarterly revenue was down 20.3% compared to the same quarter last year. During the same period last year, the firm earned $10.20 earnings per share. Sell-side analysts anticipate that Deere & Company will post 25.03 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. Shareholders of record on Monday, September 30th will be paid a dividend of $1.47 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a yield of 1.41%. 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.