Apella Capital LLC Has $768,000 Stock Position in Deere & Company (NYSE:DE)

Apella Capital LLC boosted its position in Deere & Company (NYSE:DE) by 2.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,202 shares of the industrial products company’s stock after purchasing an additional 45 shares during the quarter. Apella Capital LLC’s holdings in Deere & Company were worth $768,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of DE. Vanguard Group Inc. increased its position in shares of Deere & Company by 1.2% during the first quarter. Vanguard Group Inc. now owns 21,988,363 shares of the industrial products company’s stock valued at $9,031,500,000 after acquiring an additional 263,709 shares during the last quarter. Janus Henderson Group PLC increased its holdings in shares of Deere & Company by 0.5% in the first quarter. Janus Henderson Group PLC now owns 3,859,021 shares of the industrial products company’s stock worth $1,585,028,000 after buying an additional 19,200 shares during the period. Parnassus Investments LLC increased its holdings in Deere & Company by 22.4% during the 4th quarter. Parnassus Investments LLC now owns 3,856,171 shares of the industrial products company’s stock valued at $1,541,967,000 after purchasing an additional 705,771 shares during the period. Norges Bank bought a new position in shares of Deere & Company in the 4th quarter worth approximately $1,248,036,000. Finally, Dimensional Fund Advisors LP grew its stake in shares of Deere & Company by 11.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,595,945 shares of the industrial products company’s stock worth $638,167,000 after buying an additional 160,369 shares during the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Stock Performance

Shares of DE stock traded down $0.08 during trading on Wednesday, hitting $345.98. The company’s stock had a trading volume of 1,384,479 shares, compared to its average volume of 1,532,456. The company has a market cap of $95.34 billion, a PE ratio of 10.61, a P/E/G ratio of 1.59 and a beta of 0.93. The company has a current ratio of 2.01, a quick ratio of 1.80 and a debt-to-equity ratio of 1.81. The business has a fifty day moving average of $369.80 and a 200-day moving average of $382.44. Deere & Company has a 52 week low of $340.20 and a 52 week high of $441.46.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, May 16th. The industrial products company reported $8.53 earnings per share for the quarter, beating analysts’ consensus estimates of $7.86 by $0.67. The business had revenue of $13.61 billion for the quarter, compared to the consensus estimate of $13.29 billion. Deere & Company had a return on equity of 42.26% and a net margin of 16.15%. The company’s revenue for the quarter was down 15.4% on a year-over-year basis. During the same quarter last year, the business posted $9.65 earnings per share. As a group, research analysts anticipate that Deere & Company will post 25.41 earnings per share for the current year.

Deere & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 8th. Stockholders of record on Friday, June 28th will be issued a dividend of $1.47 per share. The ex-dividend date is Friday, June 28th. This represents a $5.88 annualized dividend and a dividend yield of 1.70%. Deere & Company’s payout ratio is 17.70%.

Analysts Set New Price Targets

A number of brokerages recently commented on DE. Stifel Nicolaus raised their target price on Deere & Company from $425.00 to $450.00 and gave the stock a “buy” rating in a report on Friday, May 17th. Daiwa Capital Markets lifted their price target on shares of Deere & Company from $400.00 to $420.00 and gave the stock an “overweight” rating in a report on Wednesday, May 15th. Morgan Stanley upped their price objective on shares of Deere & Company from $430.00 to $450.00 in a report on Wednesday, May 15th. JPMorgan Chase & Co. decreased their price objective on shares of Deere & Company from $385.00 to $375.00 and set a “neutral” rating for the company in a research report on Thursday, July 11th. Finally, TD Cowen lifted their price target on shares of Deere & Company from $383.00 to $390.00 and gave the company a “hold” rating in a research note on Friday, May 17th. Eleven research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $426.71.

Insider Activity

In related news, insider Cory J. Reed sold 13,370 shares of the stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $377.63, for a total value of $5,048,913.10. Following the completion of the transaction, the insider now owns 41,642 shares of the company’s stock, valued at approximately $15,725,268.46. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.26% of the company’s stock.

About Deere & Company

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.