Parallel Advisors LLC Increases Stock Holdings in Deere & Company (NYSE:DE)

Parallel Advisors LLC lifted its stake in shares of Deere & Company (NYSE:DE) by 32.1% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 2,294 shares of the industrial products company’s stock after acquiring an additional 557 shares during the period. Parallel Advisors LLC’s holdings in Deere & Company were worth $387,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in DE. Nuveen Asset Management LLC grew its stake in Deere & Company by 20,513.8% during the 2nd quarter. Nuveen Asset Management LLC now owns 3,147,721 shares of the industrial products company’s stock valued at $521,609,000 after purchasing an additional 3,132,451 shares in the last quarter. Parnassus Investments CA acquired a new stake in Deere & Company during the 2nd quarter valued at approximately $392,652,000. Rockefeller Capital Management L.P. grew its stake in Deere & Company by 42,214.9% during the 2nd quarter. Rockefeller Capital Management L.P. now owns 431,612 shares of the industrial products company’s stock valued at $71,523,000 after purchasing an additional 430,592 shares in the last quarter. Thoroughbred Financial Services LLC grew its stake in Deere & Company by 16,471.0% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 296,289 shares of the industrial products company’s stock valued at $29,629,000 after purchasing an additional 294,501 shares in the last quarter. Finally, Invesco Ltd. grew its stake in Deere & Company by 12.1% during the 2nd quarter. Invesco Ltd. now owns 1,923,679 shares of the industrial products company’s stock valued at $318,773,000 after purchasing an additional 207,541 shares in the last quarter. Institutional investors and hedge funds own 67.48% of the company’s stock.

In related news, Chairman Samuel R. Allen sold 114,253 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $178.30, for a total transaction of $20,371,309.90. Following the completion of the transaction, the chairman now owns 423,497 shares in the company, valued at approximately $75,509,515.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.71% of the company’s stock.

DE has been the subject of a number of recent analyst reports. Deutsche Bank lowered their price objective on Deere & Company from $163.00 to $155.00 and set a “hold” rating for the company in a research note on Wednesday, August 14th. Barclays set a $180.00 price objective on Deere & Company and gave the company a “buy” rating in a research note on Tuesday, October 15th. Morgan Stanley raised their price objective on Deere & Company from $177.00 to $180.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. UBS Group lowered their price objective on Deere & Company from $167.00 to $160.00 and set a “neutral” rating for the company in a research note on Monday, August 19th. Finally, Bank of America lowered their price objective on Deere & Company from $185.00 to $175.00 and set a “buy” rating for the company in a research note on Monday, August 19th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have given a buy rating to the company. Deere & Company presently has an average rating of “Hold” and a consensus price target of $169.21.

Shares of DE traded up $0.47 during mid-day trading on Friday, hitting $178.36. The stock had a trading volume of 1,676,855 shares, compared to its average volume of 2,024,434. The company has a market cap of $56.34 billion, a PE ratio of 18.99, a PEG ratio of 2.40 and a beta of 1.15. The company’s fifty day simple moving average is $170.60 and its two-hundred day simple moving average is $159.93. The company has a quick ratio of 1.73, a current ratio of 1.99 and a debt-to-equity ratio of 2.38. Deere & Company has a fifty-two week low of $132.68 and a fifty-two week high of $179.70.

Deere & Company (NYSE:DE) last issued its earnings results on Friday, August 16th. The industrial products company reported $2.71 EPS for the quarter, missing the consensus estimate of $2.80 by ($0.09). The firm had revenue of $8.97 billion during the quarter, compared to analyst estimates of $9.38 billion. Deere & Company had a return on equity of 27.75% and a net margin of 8.55%. Deere & Company’s revenue was down 3.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.59 EPS. Equities analysts expect that Deere & Company will post 9.96 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Monday, September 30th were given a dividend of $0.76 per share. The ex-dividend date of this dividend was Friday, September 27th. This represents a $3.04 dividend on an annualized basis and a yield of 1.70%. Deere & Company’s dividend payout ratio is currently 32.37%.

Deere & Company Company Profile

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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