BBVA USA Bancshares Inc. Grows Position in Deere & Company (NYSE:DE)

BBVA USA Bancshares Inc. raised its stake in Deere & Company (NYSE:DE) by 4.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 49,687 shares of the industrial products company’s stock after buying an additional 1,981 shares during the period. BBVA USA Bancshares Inc.’s holdings in Deere & Company were worth $10,899,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. CX Institutional increased its stake in Deere & Company by 662.5% during the 2nd quarter. CX Institutional now owns 183 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 159 shares in the last quarter. TCTC Holdings LLC acquired a new position in Deere & Company during the 2nd quarter valued at approximately $47,000. Baystate Wealth Management LLC boosted its holdings in shares of Deere & Company by 32.6% in the 2nd quarter. Baystate Wealth Management LLC now owns 321 shares of the industrial products company’s stock valued at $51,000 after acquiring an additional 79 shares during the last quarter. Watson Rebecca purchased a new stake in shares of Deere & Company in the 2nd quarter valued at $55,000. Finally, Global Trust Asset Management LLC boosted its holdings in shares of Deere & Company by 4,487.5% in the 2nd quarter. Global Trust Asset Management LLC now owns 367 shares of the industrial products company’s stock valued at $58,000 after acquiring an additional 359 shares during the last quarter. 67.77% of the stock is owned by institutional investors.

Deere & Company stock opened at $223.37 on Thursday. Deere & Company has a 12-month low of $106.14 and a 12-month high of $243.40. The stock has a market cap of $70.00 billion, a P/E ratio of 26.03, a PEG ratio of 3.86 and a beta of 0.92. The company has a 50-day moving average price of $226.53 and a 200 day moving average price of $179.09. The company has a current ratio of 2.26, a quick ratio of 2.03 and a debt-to-equity ratio of 2.64.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Friday, August 21st. The industrial products company reported $2.57 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.26 by $1.31. Deere & Company had a net margin of 7.61% and a return on equity of 22.24%. The firm had revenue of $7.86 billion during the quarter, compared to analysts’ expectations of $6.70 billion. During the same period last year, the business earned $2.71 earnings per share. Deere & Company’s revenue was down 12.4% compared to the same quarter last year. As a group, analysts forecast that Deere & Company will post 7.57 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 9th. Investors of record on Wednesday, September 30th will be given a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 1.36%. The ex-dividend date is Tuesday, September 29th. Deere & Company’s payout ratio is currently 30.58%.

A number of analysts recently issued reports on the stock. Stifel Nicolaus increased their price target on shares of Deere & Company from $175.00 to $220.00 and gave the stock a “buy” rating in a report on Monday, August 24th. Sanford C. Bernstein started coverage on shares of Deere & Company in a report on Tuesday, September 22nd. They set a “market perform” rating and a $244.00 price target on the stock. The Goldman Sachs Group upped their price objective on shares of Deere & Company from $182.00 to $209.00 in a research report on Tuesday, August 18th. Zacks Investment Research upgraded shares of Deere & Company from a “hold” rating to a “strong-buy” rating and set a $202.00 price objective for the company in a research report on Tuesday, July 28th. Finally, Credit Suisse Group upped their price objective on shares of Deere & Company from $179.00 to $223.00 and gave the stock an “outperform” rating in a research report on Monday, August 24th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $215.14.

In other Deere & Company news, CAO Marc A. Howze sold 7,996 shares of the stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $208.17, for a total transaction of $1,664,527.32. Following the completion of the transaction, the chief accounting officer now owns 22,440 shares of the company’s stock, valued at $4,671,334.80. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Pentz Markwart Von sold 9,912 shares of the stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $185.00, for a total transaction of $1,833,720.00. Following the transaction, the insider now directly owns 70,324 shares of the company’s stock, valued at approximately $13,009,940. The disclosure for this sale can be found here. 0.70% of the stock is currently owned by company insiders.

About Deere & Company

Deere & Company, together with its subsidiaries, 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 provides various agriculture and turf equipment, and related service 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; tillage, seeding, and application equipment comprising sprayers, nutrient management, and soil preparation machinery; self-propelled forage harvesters and attachments, balers, and mowers; riding lawn equipment and walk-behind mowers, golf course equipment, utility vehicles, and commercial mowing equipment along with associated implements; integrated agricultural management systems technology and solutions; and other outdoor power products.

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

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