Lincoln National Corp Raises Stock Position in Deere & Company (NYSE:DE)

Lincoln National Corp boosted its position in shares of Deere & Company (NYSE:DEGet Rating) by 23.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,352 shares of the industrial products company’s stock after purchasing an additional 1,578 shares during the period. Lincoln National Corp’s holdings in Deere & Company were worth $3,470,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Nauset Wealth Management. LLC purchased a new position in Deere & Company during the first quarter worth about $29,000. Bell Investment Advisors Inc increased its position in shares of Deere & Company by 120.0% during the fourth quarter. Bell Investment Advisors Inc now owns 88 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 48 shares during the last quarter. Bank of New Hampshire acquired a new stake in shares of Deere & Company during the first quarter valued at about $30,000. Crewe Advisors LLC increased its position in shares of Deere & Company by 3,233.3% during the fourth quarter. Crewe Advisors LLC now owns 100 shares of the industrial products company’s stock valued at $34,000 after acquiring an additional 97 shares during the last quarter. Finally, Sierra Capital LLC increased its position in shares of Deere & Company by 183.3% during the fourth quarter. Sierra Capital LLC now owns 102 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 66 shares during the last quarter. 67.35% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider John H. Stone sold 17,145 shares of Deere & Company stock in a transaction dated Thursday, May 26th. The stock was sold at an average price of $4,321.07, for a total value of $74,084,745.15. Following the transaction, the insider now owns 21,087 shares of the company’s stock, valued at approximately $91,118,403.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.24% of the stock is owned by corporate insiders.

Deere & Company Stock Performance

Shares of DE opened at $343.31 on Friday. The business’s fifty day moving average price is $323.02 and its 200 day moving average price is $364.75. Deere & Company has a 12-month low of $283.81 and a 12-month high of $446.76. The stock has a market capitalization of $104.93 billion, a PE ratio of 17.91, a price-to-earnings-growth ratio of 1.17 and a beta of 1.10. The company has a debt-to-equity ratio of 1.72, a current ratio of 2.07 and a quick ratio of 1.76.

Deere & Company (NYSE:DEGet Rating) last announced its quarterly earnings data on Friday, May 20th. The industrial products company reported $6.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.65 by $0.16. The firm had revenue of $12.03 billion for the quarter, compared to analysts’ expectations of $13.16 billion. Deere & Company had a return on equity of 33.58% and a net margin of 12.99%. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period last year, the business posted $5.68 earnings per share. Equities research analysts forecast that Deere & Company will post 23.3 EPS for the current year.

Deere & Company Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 8th. Investors of record on Thursday, June 30th will be issued a dividend of $1.13 per share. This is a positive change from Deere & Company’s previous quarterly dividend of $1.05. This represents a $4.52 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date is Wednesday, June 29th. Deere & Company’s payout ratio is presently 23.58%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on DE shares. Bank of America cut shares of Deere & Company from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $475.00 to $450.00 in a report on Monday, April 25th. Jefferies Financial Group reduced their price objective on shares of Deere & Company from $450.00 to $400.00 in a research report on Friday, July 15th. Robert W. Baird reduced their price target on shares of Deere & Company from $487.00 to $442.00 and set an “outperform” rating for the company in a research report on Sunday, May 22nd. Barclays cut their price objective on shares of Deere & Company from $415.00 to $400.00 and set an “overweight” rating for the company in a research report on Monday, May 23rd. Finally, Cowen cut their price objective on shares of Deere & Company from $396.00 to $342.00 in a research report on Thursday, July 7th. Seven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $399.56.

About Deere & Company

(Get Rating)

Deere & Company manufactures and distributes various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides mid-size tractors, combines, cotton pickers and strippers, sugarcane harvesters, harvesting front-end equipment, sugarcane loaders, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.

Featured Articles

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

Receive News & Ratings for Deere & Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Deere & Company and related companies with MarketBeat.com's FREE daily email newsletter.