Jacobs & Co. CA Lowers Stake in Deere & Company (NYSE:DE)

Jacobs & Co. CA reduced its holdings in shares of Deere & Company (NYSE:DE) by 2.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,980 shares of the industrial products company’s stock after selling 698 shares during the period. Jacobs & Co. CA’s holdings in Deere & Company were worth $5,900,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Atwater Malick LLC purchased a new position in Deere & Company in the third quarter worth about $27,000. SRS Capital Advisors Inc. purchased a new position in Deere & Company in the second quarter worth about $28,000. Arcus Capital Partners LLC purchased a new position in Deere & Company in the second quarter worth about $33,000. Orrstown Financial Services Inc. raised its holdings in Deere & Company by 116.0% in the second quarter. Orrstown Financial Services Inc. now owns 216 shares of the industrial products company’s stock worth $36,000 after buying an additional 116 shares during the last quarter. Finally, Nelson Roberts Investment Advisors LLC raised its holdings in Deere & Company by 34.8% in the second quarter. Nelson Roberts Investment Advisors LLC now owns 271 shares of the industrial products company’s stock worth $45,000 after buying an additional 70 shares during the last quarter. 67.48% of the stock is owned by institutional investors.

DE has been the subject of several research reports. Stephens initiated coverage on shares of Deere & Company in a report on Wednesday, August 14th. They set an “equal weight” rating and a $160.00 price objective for the company. Credit Suisse Group reissued an “outperform” rating and set a $197.00 price objective (up from $176.00) on shares of Deere & Company in a report on Monday, August 19th. Bank of America decreased their price objective on shares of Deere & Company from $185.00 to $175.00 and set a “buy” rating for the company in a report on Monday, August 19th. Robert W. Baird set a $178.00 price objective on shares of Deere & Company and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, Barclays set a $180.00 price objective on shares of Deere & Company and gave the company a “buy” rating in a report on Tuesday, October 15th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $169.21.

In other news, Chairman Samuel R. Allen sold 114,253 shares of the business’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $178.30, for a total transaction of $20,371,309.90. Following the transaction, the chairman now owns 423,497 shares of the company’s stock, valued at approximately $75,509,515.10. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.71% of the company’s stock.

Shares of NYSE:DE traded up $0.47 during midday trading on Friday, reaching $178.36. 1,676,855 shares of the company were exchanged, compared to its average volume of 2,024,434. The company has a current ratio of 1.99, a quick ratio of 1.73 and a debt-to-equity ratio of 2.38. The business’s fifty day moving average is $170.60 and its two-hundred day moving average is $159.93. Deere & Company has a one year low of $132.68 and a one year high of $179.70. The stock has a market cap of $56.34 billion, a PE ratio of 18.99, a price-to-earnings-growth ratio of 2.40 and a beta of 1.15.

Deere & Company (NYSE:DE) last issued its earnings results on Friday, August 16th. The industrial products company reported $2.71 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.80 by ($0.09). Deere & Company had a return on equity of 27.75% and a net margin of 8.55%. The company had revenue of $8.97 billion for the quarter, compared to the consensus estimate of $9.38 billion. During the same quarter in the prior year, the company posted $2.59 EPS. Deere & Company’s revenue was down 3.4% compared to the same quarter last year. As a group, sell-side analysts expect that Deere & Company will post 9.96 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Monday, September 30th were given a dividend of $0.76 per share. The ex-dividend date was Friday, September 27th. This represents a $3.04 annualized dividend and a dividend yield of 1.70%. Deere & Company’s payout ratio is 32.37%.

Deere & Company Profile

Deere & Company manufactures and distributes various equipment worldwide. The company operates through three segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment offers agriculture and turf equipment, and related parts, including large, medium, and utility tractors; tractor loaders; combines, cotton pickers, cotton strippers, and sugarcane harvesters; harvesting front-end equipment; sugarcane loaders and pull-behind scrapers; and tillage, seeding, and application equipment.

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

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