Wetherby Asset Management Inc. Boosts Stake in Deere & Company (NYSE:DE)

Wetherby Asset Management Inc. raised its holdings in shares of Deere & Company (NYSE:DE) by 44.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,534 shares of the industrial products company’s stock after buying an additional 3,249 shares during the quarter. Wetherby Asset Management Inc.’s holdings in Deere & Company were worth $1,746,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Dimensional Fund Advisors LP raised its stake in shares of Deere & Company by 4.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,123,218 shares of the industrial products company’s stock worth $167,531,000 after purchasing an additional 49,932 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Deere & Company by 7.2% during the 4th quarter. Geode Capital Management LLC now owns 3,655,571 shares of the industrial products company’s stock worth $544,229,000 after purchasing an additional 244,266 shares in the last quarter. Indiana Trust & Investment Management CO bought a new stake in shares of Deere & Company during the 1st quarter worth approximately $212,000. Washington Trust Bank raised its stake in shares of Deere & Company by 11.2% during the 1st quarter. Washington Trust Bank now owns 40,841 shares of the industrial products company’s stock worth $6,528,000 after purchasing an additional 4,097 shares in the last quarter. Finally, First American Trust FSB raised its stake in shares of Deere & Company by 5.9% during the 1st quarter. First American Trust FSB now owns 27,013 shares of the industrial products company’s stock worth $4,318,000 after purchasing an additional 1,501 shares in the last quarter. Institutional investors and hedge funds own 68.02% of the company’s stock.

A number of equities research analysts have recently issued reports on the company. Robert W. Baird upgraded Deere & Company from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $129.00 to $175.00 in a research note on Sunday, June 16th. Credit Suisse Group dropped their price objective on Deere & Company from $209.00 to $176.00 and set an “outperform” rating on the stock in a research note on Monday, May 20th. Morgan Stanley upped their price objective on Deere & Company from $158.00 to $172.00 and gave the stock an “overweight” rating in a research note on Friday, June 21st. JPMorgan Chase & Co. cut Deere & Company from a “neutral” rating to an “underweight” rating and dropped their price objective for the stock from $154.00 to $132.00 in a research note on Tuesday, May 14th. Finally, Jefferies Financial Group raised Deere & Company from a “hold” rating to a “buy” rating and boosted their target price for the stock from $150.00 to $190.00 in a report on Monday, June 24th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and thirteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $168.61.

In other news, COO John C. May II sold 5,228 shares of the stock in a transaction on Friday, July 26th. The stock was sold at an average price of $170.00, for a total transaction of $888,760.00. Following 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 accessible through the SEC website. Also, COO John C. May II sold 16,468 shares of the stock in a transaction on Friday, June 21st. The stock was sold at an average price of $163.21, for a total value of $2,687,742.28. Following the sale, the chief operating officer now directly owns 60,550 shares in the company, 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.

Shares of DE stock traded up $0.23 during trading on Tuesday, reaching $151.29. 94,000 shares of the company’s stock were exchanged, compared to its average volume of 1,754,032. The company has a debt-to-equity ratio of 2.37, a current ratio of 1.94 and a quick ratio of 1.66. The stock has a market capitalization of $48.52 billion, a PE ratio of 16.14, a PEG ratio of 1.95 and a beta of 1.10. Deere & Company has a twelve month low of $128.32 and a twelve month high of $171.22. The business has a fifty day moving average price of $164.18.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Friday, May 17th. The industrial products company reported $3.52 EPS for the quarter, missing analysts’ consensus estimates of $3.57 by ($0.05). Deere & Company had a net margin of 8.52% and a return on equity of 28.76%. The firm had revenue of $10.27 billion during the quarter, compared to analyst estimates of $10.19 billion. During the same period in the prior year, the company earned $3.14 earnings per share. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. Sell-side analysts anticipate that Deere & Company will post 10.23 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Friday, June 28th were issued a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date was Thursday, June 27th. Deere & Company’s dividend payout ratio is 32.37%.

About Deere & Company

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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