Eubel Brady & Suttman Asset Management Inc. Takes $434,000 Position in Deere & Company $DE

Eubel Brady & Suttman Asset Management Inc. bought a new position in Deere & Company (NYSE:DE) during the third quarter, HoldingsChannel reports. The firm bought 950 shares of the industrial products company’s stock, valued at approximately $434,000.

Several other hedge funds have also bought and sold shares of DE. Norges Bank bought a new position in shares of Deere & Company in the second quarter valued at $1,578,243,000. Marshall Wace LLP increased its position in shares of Deere & Company by 573.9% during the second quarter. Marshall Wace LLP now owns 842,882 shares of the industrial products company’s stock worth $428,597,000 after acquiring an additional 717,808 shares in the last quarter. Laurel Wealth Advisors LLC raised its holdings in shares of Deere & Company by 50,691.9% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 332,179 shares of the industrial products company’s stock worth $168,910,000 after acquiring an additional 331,525 shares during the last quarter. Vanguard Group Inc. lifted its position in Deere & Company by 1.4% in the 2nd quarter. Vanguard Group Inc. now owns 22,372,671 shares of the industrial products company’s stock valued at $11,376,279,000 after acquiring an additional 309,081 shares in the last quarter. Finally, Loomis Sayles & Co. L P lifted its position in Deere & Company by 26.8% in the 2nd quarter. Loomis Sayles & Co. L P now owns 1,386,321 shares of the industrial products company’s stock valued at $704,930,000 after acquiring an additional 292,932 shares in the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Wall Street Analyst Weigh In

DE has been the subject of a number of recent research reports. Keefe, Bruyette & Woods reissued an “outperform” rating on shares of Deere & Company in a report on Monday, December 1st. Weiss Ratings reiterated a “hold (c+)” rating on shares of Deere & Company in a report on Monday, December 29th. BMO Capital Markets restated a “market perform” rating and set a $460.00 price objective on shares of Deere & Company in a research note on Tuesday, December 9th. Wolfe Research lifted their price objective on shares of Deere & Company from $520.00 to $550.00 and gave the stock an “outperform” rating in a report on Friday, January 2nd. Finally, Daiwa Securities Group lowered their target price 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. Fifteen research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $524.20.

Deere & Company Stock Performance

NYSE DE opened at $613.47 on Thursday. The company has a market capitalization of $166.29 billion, a PE ratio of 33.14, a price-to-earnings-growth ratio of 2.37 and a beta of 1.02. The company has a debt-to-equity ratio of 1.68, a quick ratio of 2.01 and a current ratio of 2.22. Deere & Company has a 52-week low of $404.42 and a 52-week high of $614.34. The company has a 50-day simple moving average of $502.71 and a 200 day simple moving average of $486.03.

Deere & Company (NYSE:DE) last released its earnings results on Wednesday, November 26th. The industrial products company reported $3.93 earnings per share 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 for the quarter, compared to the consensus estimate of $9.77 billion. During the same period in the prior year, the company earned $4.55 earnings per share. The firm’s revenue was up 14.1% on a year-over-year basis. On average, research analysts predict that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 9th. Shareholders of record on Wednesday, December 31st were issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Wednesday, December 31st. Deere & Company’s dividend payout ratio is 35.01%.

Insiders Place Their Bets

In other news, insider Cory J. Reed sold 12,000 shares of the stock in a transaction on Wednesday, January 14th. The stock was sold at an average price of $510.00, for a total transaction of $6,120,000.00. Following the completion of the transaction, the insider owned 20,792 shares in the company, valued at approximately $10,603,920. This represents a 36.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO John C. May II sold 41,472 shares of the business’s stock in a transaction dated Thursday, January 8th. The shares were sold at an average price of $501.49, for a total value of $20,797,793.28. Following the completion of the sale, the chief executive officer owned 117,970 shares in the company, valued at $59,160,775.30. This represents a 26.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 64,578 shares of company stock valued at $32,471,682 over the last three months. Company insiders own 0.29% of the company’s stock.

Deere & Company Profile

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.