Traynor Capital Management Inc. increased its position in shares of Deere & Company (NYSE: DE – Get Rating) by 106.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,562 shares of the industrial products company stock after acquiring an additional 7,497 shares during the period. Traynor Capital Management Inc.’s holdings in Deere & Company were worth $ 6,050,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of the business. Bell Investment Advisors Inc boosted its stake in shares of Deere & Company by 120.0% during the 4th quarter. Bell Investment Advisors Inc now owns 88 shares of the industrial products company stock worth $ 30,000 after acquiring an additional 48 shares in the last quarter. First National Bank of South Miami acquired a new position in shares of Deere & Company in the 4th quarter valued at $ 34,000. Amplius Wealth Advisors LLC acquired a new position in shares of Deere & Company in the 4th quarter valued at $ 34,000. Crewe Advisors LLC increased its stake in Deere & Company by 3,233.3% in the 4th quarter. Crewe Advisors LLC now owns 100 shares of the industrial products company stock worth $ 34,000 after purchasing an additional 97 shares in the last quarter. Finally, Sierra Capital LLC raised its holdings in Deere & Company by 183.3% during the 4th quarter. Sierra Capital LLC now owns 102 shares of the industrial products company stock worth $ 35,000 after buying an additional 66 shares during the period. Hedge funds and other institutional investors own 67.35% of the company stock.
Shares of NYSE: DE opened at $ 317.93 on Thursday. Deere & Company has a 52 week low of $ 307.64 and a 52 week high of $ 446.76. The company has a market capitalization of $ 97.17 billion, a PE ratio of 16.58, a PEG ratio of 1.08 and a beta of 1.02. The company has a debt-to-equity ratio of 1.72, a quick ratio of 1.76 and a current ratio of 2.07. The company has a 50 day moving average price of $ 367.22 and a two-hundred day moving average price of $ 375.24.
Deere & Company (NYSE: DE – Get Rating) last announced its earnings results on Friday, May 20th. The industrial products company reported $ 6.81 earnings per share for the quarter, topping analysts’ consensus estimates of $ 6.71 by $ 0.10. The firm had revenue of $ 12.03 billion during the quarter, compared to analyst estimates of $ 13.16 billion. Deere & Company had a net margin of 12.99% and a return on equity of 33.58%. The company revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period in the prior year, the business earned $ 5.68 EPS. On average, sell-side analysts forecast that Deere & Company will post 23.27 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, August 8th. Shareholders of record on Thursday, June 30th will be given a dividend of $ 1.13 per share. The ex-dividend date of this dividend is Wednesday, June 29th. This is a boost from Deere & Company’s previous quarterly dividend of $ 1.05. This represents a $ 4.52 annualized dividend and a yield of 1.42%. Deere & Company’s payout ratio is 21.91%.
Several brokerages have recently commented on DE. Barclays decreased their target price on Deere & Company from $ 415.00 to $ 400.00 and set an “overweight” rating for the company in a research report on Monday, May 23rd. Bank of America cut Deere & Company from a “buy” rating to a “neutral” rating and lowered their target price for the company from $ 475.00 to $ 450.00 in a research note on Monday, April 25th. Morgan Stanley dropped their target price on Deere & Company from $ 485.00 to $ 452.00 and set an “overweight” rating on the stock in a report on Monday, May 23rd. BMO Capital Markets restated a “hold” rating and set a $ 425.00 price target on shares of Deere & Company in a report on Friday, May 20th. Finally, StockNews.com initiated coverage on shares of Deere & Company in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Seven analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $ 429.06.
In related news, insider John H. Stone sold 17,145 shares of the stock in a transaction that occurred on Thursday, May 26th. The stock was sold at an average price of $ 4,321.07, for a total transaction of $ 74,084,745.15. Following the completion of the transaction, the insider now directly owns 21,087 shares of the company stock, valued at $ 91,118,403.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.24% of the company stock.
Deere & Company Company Profile: (Get Rating)
Deere & Company manufactures and distributes 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 mid-size tractors, combines, cotton pickers and strippers, sugarcane harvesters, harvesting front-end equipment, sugarcane loaders, 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.
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