November 10, 2019 at 5:56 pm

Golub Group LLC Has $23.18 Million Stock Holdings in Deere & Company (NYSE:DE)

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Golub Group LLC grew its position in Deere & Company (NYSE:DE) by 0.6% during the 3rd quarter, Holdings Channel reports. The firm owned 137,409 shares of the industrial products company’s stock after purchasing an additional 795 shares during the quarter. Deere & Company makes up about 1.8% of Golub Group LLC’s investment portfolio, making the stock its 26th biggest position. Golub Group LLC’s holdings in Deere & Company were worth $23,178,000 as of its most recent filing with the SEC.

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Several other large investors have also recently modified their holdings of the company. Benjamin Edwards Inc. lifted its position in Deere & Company by 69.7% during the 3rd quarter. Benjamin Edwards Inc. now owns 151 shares of the industrial products company’s stock worth $25,000 after buying an additional 62 shares in the last quarter. Atwater Malick LLC acquired a new position in Deere & Company during the 3rd quarter worth about $27,000. SRS Capital Advisors Inc. acquired a new position in Deere & Company during the 2nd quarter worth about $28,000. Arcus Capital Partners LLC acquired a new position in Deere & Company during the 2nd quarter worth about $33,000. Finally, Orrstown Financial Services Inc. lifted its position in Deere & Company by 116.0% during the 2nd quarter. Orrstown Financial Services Inc. now owns 216 shares of the industrial products company’s stock worth $36,000 after buying an additional 116 shares in the last quarter. Institutional investors own 67.48% of the company’s stock.

In related news, Chairman Samuel R. Allen sold 114,253 shares of the 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 sale, the chairman now directly owns 423,497 shares of the company’s stock, valued at approximately $75,509,515.10. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.71% of the stock is currently owned by corporate insiders.

Shares of DE stock traded up $0.47 on Friday, reaching $178.36. The company had a trading volume of 1,676,855 shares, compared to its average volume of 2,024,434. The company has a current ratio of 1.99, a quick ratio of 1.73 and a debt-to-equity ratio of 2.38. The stock 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 has a 50-day moving average of $170.60 and a 200-day moving average of $159.93. Deere & Company has a 12 month low of $132.68 and a 12 month high of $179.70.

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

The firm also recently announced a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Monday, September 30th were paid 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 payout ratio is 32.37%.

Several brokerages have weighed in on DE. Credit Suisse Group reissued an “outperform” rating and set a $197.00 price objective (up from $176.00) on shares of Deere & Company in a report on Monday, August 19th. UBS Group dropped their price objective on Deere & Company from $167.00 to $160.00 and set a “neutral” rating for the company in a report on Monday, August 19th. Wells Fargo & Co cut Deere & Company from an “outperform” rating to a “market perform” rating and set a $170.00 price objective for the company. in a report on Thursday, September 12th. Deutsche Bank dropped their price objective on Deere & Company from $163.00 to $155.00 and set a “hold” rating for the company in a report on Wednesday, August 14th. Finally, Stephens began coverage on Deere & Company in a report on Wednesday, August 14th. They set an “equal weight” rating and a $160.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $169.21.

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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Institutional Ownership by Quarter for Deere & Company (NYSE:DE)

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