Deere & Company (NYSE:DE) Shares Acquired by Alerus Financial NA

Alerus Financial NA increased its stake in Deere & Company (NYSE:DE) by 17.1% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 19,285 shares of the industrial products company’s stock after buying an additional 2,811 shares during the quarter. Deere & Company comprises about 0.7% of Alerus Financial NA’s holdings, making the stock its 29th biggest position. Alerus Financial NA’s holdings in Deere & Company were worth $6,802,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. McIlrath & Eck LLC lifted its holdings in Deere & Company by 170.4% in the 2nd quarter. McIlrath & Eck LLC now owns 73 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 46 shares during the last quarter. Credit Agricole S A acquired a new stake in Deere & Company in the 2nd quarter valued at about $28,000. SRS Capital Advisors Inc. acquired a new stake in Deere & Company in the 2nd quarter valued at about $33,000. Robbins Farley LLC lifted its holdings in Deere & Company by 1,620.0% in the 1st quarter. Robbins Farley LLC now owns 86 shares of the industrial products company’s stock valued at $34,000 after acquiring an additional 81 shares during the last quarter. Finally, Trustcore Financial Services LLC lifted its holdings in Deere & Company by 75.0% in the 2nd quarter. Trustcore Financial Services LLC now owns 98 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 42 shares during the last quarter. 67.02% of the stock is owned by institutional investors and hedge funds.

In related news, insider Cory J. Reed sold 6,188 shares of Deere & Company stock in a transaction dated Wednesday, August 11th. The stock was sold at an average price of $385.00, for a total value of $2,382,380.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.31% of the company’s stock.

Shares of DE traded down $4.67 during mid-day trading on Tuesday, hitting $335.06. The company’s stock had a trading volume of 29,111 shares, compared to its average volume of 1,760,840. Deere & Company has a one year low of $210.18 and a one year high of $400.34. The company has a debt-to-equity ratio of 2.05, a quick ratio of 1.93 and a current ratio of 2.17. The firm has a market capitalization of $103.89 billion, a PE ratio of 19.68, a price-to-earnings-growth ratio of 0.91 and a beta of 1.06. The stock’s 50-day moving average is $364.49 and its two-hundred day moving average is $364.33.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, August 19th. The industrial products company reported $5.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.58 by $0.74. Deere & Company had a return on equity of 37.60% and a net margin of 12.82%. The firm had revenue of $10.41 billion during the quarter, compared to analyst estimates of $10.33 billion. During the same period in the prior year, the company posted $2.57 earnings per share. The business’s revenue for the quarter was up 32.5% compared to the same quarter last year. Analysts expect that Deere & Company will post 18.9 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 8th. Stockholders of record on Thursday, September 30th will be paid a $1.05 dividend. The ex-dividend date is Wednesday, September 29th. This is a positive change from Deere & Company’s previous quarterly dividend of $0.90. This represents a $4.20 dividend on an annualized basis and a dividend yield of 1.25%. Deere & Company’s dividend payout ratio (DPR) is 41.43%.

DE has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Deere & Company from $404.00 to $383.00 and set a “hold” rating for the company in a research note on Monday, August 23rd. BMO Capital Markets upped their price objective on shares of Deere & Company from $400.00 to $425.00 and gave the company a “market perform” rating in a research note on Tuesday, May 25th. Stifel Nicolaus upped their price objective on shares of Deere & Company from $405.00 to $430.00 and gave the company a “buy” rating in a research note on Monday, May 24th. Jefferies Financial Group upped their price objective on shares of Deere & Company from $400.00 to $450.00 and gave the company a “buy” rating in a research note on Tuesday, May 25th. Finally, Morgan Stanley dropped their target price on Deere & Company from $450.00 to $442.00 and set an “overweight” rating on the stock in a report on Tuesday, July 13th. Four equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $372.30.

Deere & Company Profile

Deere & Co engages in the manufacturing and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf; Construction and Forestry; and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacturing of full line of agriculture and turf equipment and related service parts.

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

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