Oxbow Advisors LLC Grows Position in Deere & Company (NYSE:DE)

Oxbow Advisors LLC raised its position in Deere & Company (NYSE:DEGet Rating) by 144.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,693 shares of the industrial products company’s stock after purchasing an additional 1,000 shares during the quarter. Oxbow Advisors LLC’s holdings in Deere & Company were worth $703,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Norges Bank acquired a new stake in Deere & Company during the 4th quarter valued at approximately $959,748,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its position in shares of Deere & Company by 27.1% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,783,591 shares of the industrial products company’s stock worth $952,127,000 after acquiring an additional 593,336 shares in the last quarter. Nordea Investment Management AB grew its position in shares of Deere & Company by 203.6% in the 1st quarter. Nordea Investment Management AB now owns 839,905 shares of the industrial products company’s stock worth $352,307,000 after acquiring an additional 563,302 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of Deere & Company by 211.6% in the 4th quarter. Renaissance Technologies LLC now owns 501,700 shares of the industrial products company’s stock worth $172,028,000 after acquiring an additional 340,700 shares in the last quarter. Finally, AMF Tjanstepension AB grew its position in shares of Deere & Company by 146.4% in the 1st quarter. AMF Tjanstepension AB now owns 508,928 shares of the industrial products company’s stock worth $211,519,000 after acquiring an additional 302,359 shares in the last quarter. 67.35% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Stock Performance

Shares of NYSE DE opened at $343.71 on Tuesday. The company has a quick ratio of 1.76, a current ratio of 2.07 and a debt-to-equity ratio of 1.72. The stock has a market capitalization of $105.05 billion, a price-to-earnings ratio of 17.93, a PEG ratio of 1.17 and a beta of 1.10. The stock’s fifty day simple moving average is $322.68 and its 200 day simple moving average is $364.51. Deere & Company has a 52-week low of $283.81 and a 52-week high of $446.76.

Deere & Company (NYSE:DEGet Rating) last issued its earnings results on Friday, May 20th. The industrial products company reported $6.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.65 by $0.16. The business had revenue of $12.03 billion for the quarter, compared to analysts’ expectations of $13.16 billion. Deere & Company had a return on equity of 33.58% and a net margin of 12.99%. The company’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the firm posted $5.68 EPS. As a group, sell-side analysts forecast that Deere & Company will post 23.3 earnings per share for the current fiscal year.

Deere & Company Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 8th. Investors of record on Thursday, June 30th were issued a $1.13 dividend. This represents a $4.52 dividend on an annualized basis and a dividend yield of 1.32%. This is a boost from Deere & Company’s previous quarterly dividend of $1.05. The ex-dividend date of this dividend was Wednesday, June 29th. Deere & Company’s payout ratio is presently 23.58%.

Insider Buying and Selling

In other news, insider John H. Stone sold 17,145 shares of Deere & Company stock in a transaction 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 transaction, the insider now owns 21,087 shares in the company, valued at $91,118,403.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Barclays reduced their price objective 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. JPMorgan Chase & Co. reduced their price objective on Deere & Company from $370.00 to $325.00 and set a “neutral” rating for the company in a research report on Tuesday, July 12th. The Goldman Sachs Group reduced their price objective on Deere & Company from $480.00 to $420.00 and set a “buy” rating for the company in a research report on Monday, May 23rd. Oppenheimer reduced their price objective on Deere & Company from $419.00 to $365.00 and set an “outperform” rating for the company in a research report on Monday, July 18th. Finally, Morgan Stanley cut their target price on Deere & Company from $452.00 to $416.00 and set an “overweight” rating on the stock in a research note on Monday, July 18th. Seven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, Deere & Company presently has a consensus rating of “Moderate Buy” and a consensus target price of $399.56.

About Deere & Company

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

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