Baird Financial Group Inc. Buys 6,349 Shares of Deere & Company $DE

Baird Financial Group Inc. raised its position in Deere & Company (NYSE:DE) by 5.1% during the second quarter, Holdings Channel reports. The firm owned 129,969 shares of the industrial products company’s stock after purchasing an additional 6,349 shares during the period. Baird Financial Group Inc.’s holdings in Deere & Company were worth $66,088,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Mid American Wealth Advisory Group Inc. acquired a new position in shares of Deere & Company during the 2nd quarter valued at $25,000. Activest Wealth Management increased its position in Deere & Company by 2,750.0% in the 1st quarter. Activest Wealth Management now owns 57 shares of the industrial products company’s stock valued at $27,000 after buying an additional 55 shares in the last quarter. Marshall & Sullivan Inc. WA acquired a new position in Deere & Company during the 2nd quarter worth approximately $38,000. Livelsberger Financial Advisory acquired a new position in Deere & Company during the 2nd quarter worth approximately $39,000. Finally, Center for Financial Planning Inc. boosted its holdings in Deere & Company by 406.7% in the second quarter. Center for Financial Planning Inc. now owns 76 shares of the industrial products company’s stock worth $39,000 after acquiring an additional 61 shares in the last quarter. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Price Performance

DE opened at $482.60 on Friday. The firm has a 50-day moving average price of $467.58 and a 200-day moving average price of $489.59. Deere & Company has a twelve month low of $403.01 and a twelve month high of $533.78. The company has a quick ratio of 2.01, a current ratio of 2.22 and a debt-to-equity ratio of 1.68. The company has a market capitalization of $130.46 billion, a price-to-earnings ratio of 26.07, a PEG ratio of 1.77 and a beta of 1.00.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Wednesday, November 26th. The industrial products company reported $3.93 EPS for the quarter, missing the consensus estimate of $3.96 by ($0.03). Deere & Company had a return on equity of 20.54% and a net margin of 11.00%.The business had revenue of $12.39 billion during the quarter, compared to the consensus estimate of $9.77 billion. During the same period last year, the business posted $4.55 earnings per share. The firm’s quarterly revenue was up 14.1% on a year-over-year basis. Equities analysts expect that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 9th. Stockholders of record on Wednesday, December 31st will be issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Wednesday, December 31st. Deere & Company’s dividend payout ratio is presently 35.01%.

Insider Buying and Selling at Deere & Company

In related news, CEO John C. May II sold 11,106 shares of the stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $500.08, for a total value of $5,553,888.48. Following the sale, the chief executive officer owned 112,453 shares in the company, valued at approximately $56,235,496.24. This trade represents a 8.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on DE shares. Evercore ISI reaffirmed a “positive” rating on shares of Deere & Company in a research note on Friday, November 28th. Wells Fargo & Company began coverage on Deere & Company in a research report on Thursday, November 13th. They set an “overweight” rating and a $543.00 target price on the stock. Jefferies Financial Group decreased their price target on Deere & Company from $510.00 to $440.00 and set a “hold” rating for the company in a report on Wednesday, October 8th. Wall Street Zen cut shares of Deere & Company from a “hold” rating to a “sell” rating in a report on Friday, November 28th. Finally, Daiwa Capital Markets cut their price objective on Deere & Company from $530.00 to $520.00 and set an “outperform” rating on the stock in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Deere & Company currently has an average rating of “Moderate Buy” and a consensus target price of $518.95.

Deere & Company Profile

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.