Lipe & Dalton Has $2.41 Million Holdings in Deere & Company (NYSE:DE)

Lipe & Dalton raised its stake in Deere & Company (NYSE:DE) by 5.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,566 shares of the industrial products company’s stock after acquiring an additional 800 shares during the quarter. Deere & Company comprises approximately 1.7% of Lipe & Dalton’s investment portfolio, making the stock its 26th biggest holding. Lipe & Dalton’s holdings in Deere & Company were worth $2,414,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Private Ocean LLC grew its position in shares of Deere & Company by 560.0% during the 1st quarter. Private Ocean LLC now owns 198 shares of the industrial products company’s stock worth $32,000 after buying an additional 168 shares during the period. Arcus Capital Partners LLC acquired a new position in Deere & Company during the second quarter valued at approximately $33,000. Orrstown Financial Services Inc. grew its holdings in Deere & Company by 116.0% during the second quarter. Orrstown Financial Services Inc. now owns 216 shares of the industrial products company’s stock valued at $36,000 after purchasing an additional 116 shares during the period. Field & Main Bank acquired a new position in Deere & Company during the first quarter valued at approximately $40,000. Finally, Whitnell & Co. acquired a new position in Deere & Company during the first quarter valued at approximately $48,000. Hedge funds and other institutional investors own 68.04% of the company’s stock.

In related news, COO John C. May II sold 16,468 shares of the business’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $163.21, for a total transaction of $2,687,742.28. Following the transaction, the chief operating officer now directly owns 60,550 shares in the company, valued at $9,882,365.50. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO John C. May II sold 5,228 shares of the business’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $170.00, for a total transaction of $888,760.00. Following the transaction, the chief operating officer now owns 49,310 shares in the company, valued at $8,382,700. The disclosure for this sale can be found here. 0.71% of the stock is currently owned by insiders.

DE has been the subject of a number of analyst reports. Wells Fargo & Co boosted their price objective on shares of Deere & Company from $160.00 to $185.00 and gave the company an “outperform” rating in a report on Monday, July 1st. Deutsche Bank decreased their price objective on shares of Deere & Company from $159.00 to $148.00 and set a “hold” rating for the company in a report on Monday, May 20th. Vertical Research lowered shares of Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday, May 20th. Barclays reaffirmed a “buy” rating and issued a $167.00 price target on shares of Deere & Company in a research note on Monday, July 15th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $175.00 price target (down previously from $195.00) on shares of Deere & Company in a research note on Monday, May 27th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and thirteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $168.61.

Shares of DE stock opened at $158.70 on Friday. The stock has a fifty day simple moving average of $163.89. 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 company has a market capitalization of $50.31 billion, a price-to-earnings ratio of 16.90, a PEG ratio of 2.04 and a beta of 1.10. Deere & Company has a 12 month low of $128.32 and a 12 month high of $171.22.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Friday, May 17th. The industrial products company reported $3.52 EPS for the quarter, missing the Zacks’ consensus estimate of $3.57 by ($0.05). The business had revenue of $10.27 billion during the quarter, compared to the consensus estimate of $10.19 billion. Deere & Company had a return on equity of 28.76% and a net margin of 8.52%. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.14 EPS. As a group, equities analysts predict that Deere & Company will post 10.23 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Friday, June 28th were issued a dividend of $0.76 per share. The ex-dividend date was Thursday, June 27th. This represents a $3.04 dividend on an annualized basis and a yield of 1.92%. Deere & Company’s payout ratio is 32.37%.

Deere & Company Profile

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.

Featured Article: What does the Producer Price Index (PPI) tell investors?

Want to see what other hedge funds are holding DE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Deere & Company (NYSE:DE).

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.