Deere & Company $DE Shares Acquired by Cim Investment Management Inc.

Cim Investment Management Inc. lifted its holdings in Deere & Company (NYSE:DE) by 99.6% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,330 shares of the industrial products company’s stock after purchasing an additional 2,161 shares during the period. Cim Investment Management Inc.’s holdings in Deere & Company were worth $2,018,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in DE. Mid American Wealth Advisory Group Inc. acquired a new position in shares of Deere & Company in the second quarter worth $25,000. Howard Hughes Medical Institute acquired a new position in Deere & Company during the 2nd quarter worth $27,000. Activest Wealth Management grew its stake in Deere & Company by 2,750.0% during the 1st quarter. Activest Wealth Management now owns 57 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 55 shares in the last quarter. Marshall & Sullivan Inc. WA purchased a new stake in Deere & Company during the 2nd quarter worth about $38,000. Finally, Center for Financial Planning Inc. raised its position in Deere & Company by 406.7% in the 2nd quarter. Center for Financial Planning Inc. now owns 76 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 61 shares in the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Stock Up 2.0%

DE stock opened at $485.35 on Friday. The stock has a market cap of $131.20 billion, a P/E ratio of 26.22, a PEG ratio of 1.83 and a beta of 1.00. The company has a current ratio of 2.22, a quick ratio of 2.01 and a debt-to-equity ratio of 1.68. Deere & Company has a twelve month low of $403.01 and a twelve month high of $533.78. The company’s 50 day moving average is $469.02 and its two-hundred day moving average is $487.55.

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

Deere & Company Dividend Announcement

The company also recently announced 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 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Wednesday, December 31st. Deere & Company’s 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 company’s stock in a transaction dated 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 completion of the sale, the chief executive officer directly owned 112,453 shares of the company’s stock, valued at $56,235,496.24. This represents a 8.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.29% of the company’s stock.

Analysts Set New Price Targets

DE has been the subject of a number of analyst reports. Citigroup lowered their price objective on Deere & Company from $525.00 to $515.00 and set a “neutral” rating for the company in a research report on Tuesday, October 7th. Daiwa Capital Markets lowered their price target on shares of Deere & Company from $530.00 to $520.00 and set an “outperform” rating for the company in a report on Tuesday, December 2nd. Weiss Ratings reissued a “hold (c+)” rating on shares of Deere & Company in a research report on Monday, December 8th. Sanford C. Bernstein restated a “market perform” rating on shares of Deere & Company in a report on Tuesday. Finally, Wolfe Research decreased their price objective on shares of Deere & Company from $550.00 to $520.00 and set an “outperform” rating for the company in a research report on Friday, October 3rd. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $523.70.

Deere & Company 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.