Weiss Asset Management LP Invests $246,000 in Deere & Company (NYSE:DE)

Weiss Asset Management LP purchased a new position in Deere & Company (NYSE:DE) in the second quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 1,485 shares of the industrial products company’s stock, valued at approximately $246,000.

Several other large investors also recently modified their holdings of the company. BlackRock Inc. raised its holdings in shares of Deere & Company by 0.4% during the first quarter. BlackRock Inc. now owns 18,523,593 shares of the industrial products company’s stock valued at $2,960,812,000 after acquiring an additional 78,890 shares during the period. FMR LLC increased its stake in Deere & Company by 13.6% in the 1st quarter. FMR LLC now owns 8,713,051 shares of the industrial products company’s stock valued at $1,392,694,000 after buying an additional 1,043,039 shares during the period. Northern Trust Corp increased its stake in Deere & Company by 1.0% in the 2nd quarter. Northern Trust Corp now owns 3,925,592 shares of the industrial products company’s stock valued at $650,510,000 after buying an additional 38,701 shares during the period. JPMorgan Chase & Co. increased its stake in Deere & Company by 67.0% in the 1st quarter. JPMorgan Chase & Co. now owns 3,733,015 shares of the industrial products company’s stock valued at $596,683,000 after buying an additional 1,497,433 shares during the period. Finally, Geode Capital Management LLC increased its stake in Deere & Company by 7.2% in the 4th quarter. Geode Capital Management LLC now owns 3,655,571 shares of the industrial products company’s stock valued at $544,229,000 after buying an additional 244,266 shares during the period. 67.53% of the stock is owned by institutional investors.

Shares of DE traded down $0.36 during mid-day trading on Monday, hitting $165.06. 50,691 shares of the company’s stock were exchanged, compared to its average volume of 1,862,522. The firm has a fifty day moving average of $155.84 and a two-hundred day moving average of $157.52. Deere & Company has a twelve month low of $128.32 and a twelve month high of $171.22. The stock has a market cap of $51.41 billion, a price-to-earnings ratio of 17.57, a P/E/G ratio of 2.34 and a beta of 1.15. The company has a quick ratio of 1.73, a current ratio of 1.99 and a debt-to-equity ratio of 2.38.



Deere & Company (NYSE:DE) last announced its quarterly earnings results on Friday, August 16th. The industrial products company reported $2.71 EPS for the quarter, missing the Thomson Reuters’ 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 business had revenue of $8.97 billion for the quarter, compared to analyst estimates of $9.38 billion. During the same quarter last year, the company earned $2.59 EPS. The business’s revenue for the quarter was down 3.4% compared to the same quarter last year. On average, equities analysts predict that Deere & Company will post 9.98 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Monday, September 30th will be paid a dividend of $0.76 per share. The ex-dividend date is Friday, September 27th. This represents a $3.04 annualized dividend and a dividend yield of 1.84%. Deere & Company’s dividend payout ratio (DPR) is 32.37%.

DE has been the topic of several research reports. Wells Fargo & Co lowered shares of Deere & Company from an “outperform” rating to a “market perform” rating and set a $170.00 price objective on the stock. in a research note on Thursday. Bank of America dropped their price objective on shares of Deere & Company from $185.00 to $175.00 and set a “buy” rating on the stock in a research note on Monday, August 19th. BMO Capital Markets reiterated an “outperform” rating and issued a $175.00 price objective (down previously from $195.00) on shares of Deere & Company in a research note on Monday, May 27th. Royal Bank of Canada dropped their price objective on shares of Deere & Company from $190.00 to $175.00 and set an “outperform” rating on the stock in a research note on Monday, May 20th. Finally, Morgan Stanley upped their price objective on shares of Deere & Company from $172.00 to $177.00 and gave the company an “overweight” rating in a research note on Monday, August 19th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have assigned a buy rating to the company. Deere & Company presently has a consensus rating of “Hold” and an average price target of $166.89.

In related news, COO John C. May II sold 5,228 shares of the company’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $170.00, for a total transaction of $888,760.00. Following the completion of the sale, the chief operating officer now directly owns 49,310 shares of the company’s stock, valued at approximately $8,382,700. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO John C. May II sold 16,468 shares of the company’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $163.21, for a total transaction of $2,687,742.28. Following the sale, the chief operating officer now directly owns 60,550 shares of the company’s stock, valued at $9,882,365.50. The disclosure for this sale can be found here. Corporate insiders own 0.71% of the company’s stock.

Deere & Company 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.

Further Reading: How does a margin account work?

Institutional Ownership by Quarter for Deere & Company (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.