Shelton Capital Management Purchases New Position in Deere & Company (DE)

Shelton Capital Management purchased a new stake in Deere & Company (NYSE:DE) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 3,712 shares of the industrial products company’s stock, valued at approximately $459,000.

A number of other hedge funds have also recently made changes to their positions in the business. Prudential PLC acquired a new stake in Deere & in the second quarter valued at $217,000. Aviance Capital Management LLC acquired a new stake in Deere & in the second quarter valued at $217,000. Capital International Investors lifted its stake in Deere & by 14.4% in the second quarter. Capital International Investors now owns 6,506,943 shares of the industrial products company’s stock valued at $804,193,000 after acquiring an additional 820,991 shares during the last quarter. Capital World Investors lifted its stake in Deere & by 8.3% in the second quarter. Capital World Investors now owns 3,250,000 shares of the industrial products company’s stock valued at $401,668,000 after acquiring an additional 250,000 shares during the last quarter. Finally, AHL Partners LLP lifted its stake in Deere & by 80.0% in the second quarter. AHL Partners LLP now owns 9,708 shares of the industrial products company’s stock valued at $1,200,000 after acquiring an additional 4,316 shares during the last quarter. Hedge funds and other institutional investors own 66.17% of the company’s stock.

Deere & Company (NYSE DE) opened at 128.25 on Wednesday. The firm has a 50-day moving average of $120.91 and a 200 day moving average of $120.31. The company has a market capitalization of $41.21 billion, a price-to-earnings ratio of 21.30 and a beta of 0.69. Deere & Company has a 12-month low of $85.27 and a 12-month high of $132.50.

Deere & (NYSE:DE) last announced its quarterly earnings results on Friday, August 18th. The industrial products company reported $1.97 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.93 by $0.04. Deere & had a return on equity of 25.96% and a net margin of 6.81%. The firm had revenue of $6.83 billion for the quarter, compared to analysts’ expectations of $6.92 billion. During the same period in the prior year, the business posted $1.55 earnings per share. The company’s revenue was up 16.6% on a year-over-year basis. Analysts expect that Deere & Company will post $6.52 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Friday, September 29th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 1.87%. The ex-dividend date of this dividend is Thursday, September 28th. Deere &’s dividend payout ratio is presently 40.20%.

A number of analysts have commented on the stock. Argus reiterated a “buy” rating and issued a $140.00 price target on shares of Deere & in a research note on Tuesday, August 22nd. BidaskClub cut shares of Deere & from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Zacks Investment Research cut shares of Deere & from a “buy” rating to a “hold” rating in a research note on Monday, August 21st. Credit Suisse Group cut shares of Deere & from a “neutral” rating to an “outperform” rating in a research note on Tuesday, August 22nd. Finally, Bank of America Corporation cut shares of Deere & from a “buy” rating to a “neutral” rating and set a $145.00 price target for the company. in a research note on Tuesday, August 15th. Three equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and ten have issued a buy rating to the company. Deere & presently has an average rating of “Hold” and an average target price of $127.45.

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In other news, insider Max A. Guinn sold 5,000 shares of the company’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $130.89, for a total transaction of $654,450.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jean H. Gilles sold 8,015 shares of the company’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $129.99, for a total value of $1,041,869.85. Following the sale, the insider now owns 70,635 shares in the company, valued at $9,181,843.65. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 116,023 shares of company stock worth $14,185,962. Company insiders own 0.75% of the company’s stock.

Deere & Profile

Deere & Company is engaged in equipment operations. The Company is engaged in providing financial services. The Company operates through three business segments: agriculture and turf, construction and forestry, and financial services. The agriculture and turf segment manufactures and distributes a line of agriculture and turf equipment and related service parts.

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

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