Welch Group LLC Raises Stock Position in Deere & Company (NYSE:DE)
Welch Group LLC raised its stake in Deere & Company (NYSE:DE) by 3.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,106 shares of the industrial products company’s stock after buying an additional 137 shares during the period. Welch Group LLC’s holdings in Deere & Company were worth $681,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the business. Dimensional Fund Advisors LP raised its stake in Deere & Company by 4.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,123,218 shares of the industrial products company’s stock valued at $167,531,000 after buying an additional 49,932 shares during the last quarter. Geode Capital Management LLC raised its stake in Deere & Company by 7.2% during the fourth quarter. Geode Capital Management LLC now owns 3,655,571 shares of the industrial products company’s stock valued at $544,229,000 after buying an additional 244,266 shares during the last quarter. Thrivent Financial for Lutherans raised its stake in Deere & Company by 1.6% during the fourth quarter. Thrivent Financial for Lutherans now owns 15,986 shares of the industrial products company’s stock valued at $2,386,000 after buying an additional 250 shares during the last quarter. Macquarie Group Ltd. raised its stake in Deere & Company by 18.9% during the fourth quarter. Macquarie Group Ltd. now owns 44,255 shares of the industrial products company’s stock valued at $6,601,000 after buying an additional 7,047 shares during the last quarter. Finally, Putnam FL Investment Management Co. purchased a new position in Deere & Company during the fourth quarter valued at $227,000. 68.01% of the stock is owned by institutional investors.
Shares of DE stock traded up $3.48 during mid-day trading on Friday, hitting $170.39. The company’s stock had a trading volume of 1,950,014 shares, compared to its average volume of 1,816,492. Deere & Company has a 52-week low of $128.32 and a 52-week high of $170.99. The company has a 50-day moving average of $161.48. The company has a debt-to-equity ratio of 2.37, a quick ratio of 1.66 and a current ratio of 1.94. The firm has a market capitalization of $54.01 billion, a PE ratio of 18.15, a price-to-earnings-growth ratio of 2.10 and a beta of 1.12.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Friday, June 28th will be paid a $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 1.78%. The ex-dividend date is Thursday, June 27th. Deere & Company’s dividend payout ratio is currently 32.37%.
In other news, COO John C. May II sold 16,468 shares of the business’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $163.21, for a total value of $2,687,742.28. Following the completion of the transaction, the chief operating officer now owns 60,550 shares in the company, valued at $9,882,365.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.71% of the stock is owned by insiders.
DE has been the subject of a number of recent research reports. Bank of America set a $68.00 price objective on Inphi and gave the company a “buy” rating in a research note on Monday, July 15th. Royal Bank of Canada set a €475.00 ($552.33) price objective on Rational and gave the company a “sell” rating in a research note on Monday, May 20th. Stifel Nicolaus set a $73.00 price objective on Expeditors International of Washington and gave the company a “hold” rating in a research note on Monday, May 20th. Robert W. Baird upgraded Deere & Company from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $129.00 to $175.00 in a research note on Sunday, June 16th. Finally, BMO Capital Markets initiated coverage on Parkland Fuel in a research note on Monday, May 27th. They set an “outperform” rating for the company. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and thirteen have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $168.61.
About Deere & Company
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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