Hedeker Wealth LLC continued to hold its position in Deere & Co. (NYSE:DE) during the second quarter, Holdings Channel reports. The fund owned 3,654 shares of the company’s stock at the end of the second quarter. Hedeker Wealth LLC’s holdings in Deere & Co. were worth $296,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in DE. Washington Trust Bank increased its position in shares of Deere & Co. by 59.0% in the second quarter. Washington Trust Bank now owns 1,240 shares of the company’s stock valued at $100,000 after buying an additional 460 shares during the period. Meeder Asset Management Inc. acquired a new stake in Deere & Co. during the first quarter worth $142,000. Iowa State Bank acquired a new stake in Deere & Co. during the second quarter worth $151,000. Advisory Services Network LLC raised its position in Deere & Co. by 18.2% in the second quarter. Advisory Services Network LLC now owns 2,365 shares of the company’s stock valued at $192,000 after buying an additional 364 shares during the last quarter. Finally, First National Bank & Trust Co. of Newtown acquired a new position in Deere & Co. during the second quarter valued at approximately $202,000. Hedge funds and other institutional investors own 70.55% of the company’s stock.
Shares of Deere & Co. (NYSE:DE) traded up 0.08% during mid-day trading on Monday, hitting $86.47. The company had a trading volume of 1,118,660 shares. The company has a market capitalization of $27.19 billion, a P/E ratio of 17.33 and a beta of 0.89. Deere & Co. has a one year low of $70.16 and a one year high of $89.34. The firm’s 50-day moving average price is $84.29 and its 200 day moving average price is $82.14.
Deere & Co. (NYSE:DE) last released its earnings results on Friday, August 19th. The company reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.61. Deere & Co. had a net margin of 5.92% and a return on equity of 22.73%. The firm earned $6.72 billion during the quarter. During the same period in the prior year, the firm posted $1.53 EPS. Deere & Co.’s revenue was down 14.3% on a year-over-year basis. Analysts predict that Deere & Co. will post $4.30 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Friday, September 30th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date is Wednesday, September 28th. Deere & Co.’s dividend payout ratio is presently 48.10%.
DE has been the subject of several analyst reports. Piper Jaffray Cos. lowered Deere & Co. from a “neutral” rating to an “underweight” rating and dropped their target price for the company from $77.64 to $67.00 in a research note on Monday, July 25th. Vetr raised Deere & Co. from a “strong sell” rating to a “sell” rating and set a $73.25 price target for the company in a research report on Monday, June 27th. Wells Fargo & Co. raised Deere & Co. from a “market perform” rating to an “outperform” rating in a research report on Monday, October 10th. TheStreet downgraded Deere & Co. from a “buy” rating to a “hold” rating in a research report on Monday, October 3rd. Finally, Citigroup Inc. lowered their price target on Deere & Co. from $100.00 to $87.00 and set a “buy” rating for the company in a research report on Monday, August 22nd. Eight research analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Deere & Co. currently has an average rating of “Hold” and an average price target of $82.27.
About Deere & Co.
Deere & Company is engaged in equipment operations and financial services. The Company operates through three business segments: agriculture and turf, construction and forestry, and financial services. The Company’s agriculture and turf segment primarily manufactures and distributes a full line of agriculture and turf equipment and related service parts.