BDO Wealth Advisors LLC Takes $454,000 Position in Deere & Company (DE)

BDO Wealth Advisors LLC bought a new position in Deere & Company (NYSE:DE) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,671 shares of the industrial products company’s stock, valued at approximately $454,000.

A number of other hedge funds have also modified their holdings of the business. Vanguard Group Inc. increased its holdings in Deere & by 8.2% in the first quarter. Vanguard Group Inc. now owns 20,440,278 shares of the industrial products company’s stock worth $2,225,128,000 after purchasing an additional 1,541,004 shares in the last quarter. BlackRock Inc. increased its holdings in Deere & by 2,432.6% in the first quarter. BlackRock Inc. now owns 16,715,452 shares of the industrial products company’s stock worth $1,819,643,000 after purchasing an additional 16,055,453 shares in the last quarter. State Street Corp increased its holdings in Deere & by 0.4% in the first quarter. State Street Corp now owns 12,267,999 shares of the industrial products company’s stock worth $1,335,500,000 after purchasing an additional 45,695 shares in the last quarter. First Eagle Investment Management LLC increased its holdings in Deere & by 5.1% in the first quarter. First Eagle Investment Management LLC now owns 6,652,623 shares of the industrial products company’s stock worth $724,205,000 after purchasing an additional 322,158 shares in the last quarter. Finally, Loomis Sayles & Co. L P increased its holdings in Deere & by 0.5% in the first quarter. Loomis Sayles & Co. L P now owns 5,860,666 shares of the industrial products company’s stock worth $637,992,000 after purchasing an additional 26,303 shares in the last quarter. Institutional investors and hedge funds own 66.58% of the company’s stock.

Deere & Company (DE) opened at 119.01 on Friday. Deere & Company has a 52-week low of $81.89 and a 52-week high of $132.50. The stock has a market cap of $38.24 billion, a PE ratio of 19.77 and a beta of 0.70. The firm has a 50-day moving average price of $121.81 and a 200 day moving average price of $118.30.

Deere & (NYSE:DE) last posted its quarterly earnings data on Friday, August 18th. The industrial products company reported $1.97 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.93 by $0.04. Deere & had a return on equity of 25.96% and a net margin of 6.81%. The company had revenue of $6.83 billion during the quarter, compared to analyst estimates of $6.92 billion. During the same quarter last year, the company earned $1.55 EPS. The firm’s revenue for the quarter was up 16.6% on a year-over-year basis. On average, analysts forecast that Deere & Company will post $6.52 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Friday, September 29th will be paid a dividend of $0.60 per share. The ex-dividend date is Thursday, September 28th. This represents a $2.40 annualized dividend and a yield of 2.02%. Deere &’s dividend payout ratio is 40.20%.

In other Deere & news, insider Jean H. Gilles sold 12,361 shares of the stock in a transaction on Friday, August 4th. The stock was sold at an average price of $129.90, for a total transaction of $1,605,693.90. Following the sale, the insider now directly owns 74,981 shares in the company, valued at approximately $9,740,031.90. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Pentz Markwart Von sold 46,457 shares of the stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $116.74, for a total value of $5,423,390.18. Following the sale, the insider now owns 47,165 shares in the company, valued at $5,506,042.10. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 71,833 shares of company stock worth $8,725,404. Company insiders own 0.85% of the company’s stock.

DE has been the subject of a number of research analyst reports. ValuEngine upgraded Deere & from a “hold” rating to a “buy” rating in a report on Friday, September 1st. BidaskClub downgraded Deere & from a “buy” rating to a “hold” rating in a report on Wednesday, June 28th. Barclays PLC lifted their target price on Deere & from $82.00 to $90.00 and gave the stock a “sell” rating in a report on Monday, May 22nd. Robert W. Baird downgraded Deere & from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $140.00 to $130.00 in a report on Friday, August 18th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $150.00 target price (up from $140.00) on shares of Deere & in a report on Wednesday, August 16th. Three investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and ten have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $127.58.

TRADEMARK VIOLATION WARNING: This story was reported by Transcript Daily and is owned by of Transcript Daily. If you are viewing this story on another website, it was illegally stolen and republished in violation of United States & international trademark and copyright law. The legal version of this story can be accessed at https://transcriptdaily.com/2017/09/17/bdo-wealth-advisors-llc-takes-454000-position-in-deere-company-de.html.

Deere & Profile

Deere & Company is engaged in equipment operations. The Company is engaged in providing financial services. The Company operates through three business segments: agriculture and turf, construction and forestry, and financial services. The agriculture and turf segment manufactures and distributes a line of agriculture and turf equipment and related service parts.

Institutional Ownership by Quarter for Deere & (NYSE:DE)

Receive News & Ratings for Deere & Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Deere & Company and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply