First Merchants Corp Has $236,000 Stake in Deere & Co. (DE)
First Merchants Corp cut its stake in Deere & Co. (NYSE:DE) by 6.4% during the second quarter, Holdings Channel reports. The institutional investor owned 2,915 shares of the company’s stock after selling 200 shares during the period. First Merchants Corp’s holdings in Deere & Co. were worth $236,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of the company. HL Financial Services LLC raised its stake in shares of Deere & Co. by 4.6% in the second quarter. HL Financial Services LLC now owns 25,709 shares of the company’s stock valued at $2,083,000 after buying an additional 1,120 shares in the last quarter. Court Place Advisors LLC raised its stake in shares of Deere & Co. by 11.3% in the second quarter. Court Place Advisors LLC now owns 4,351 shares of the company’s stock valued at $353,000 after buying an additional 440 shares in the last quarter. Rehmann Capital Advisory Group raised its stake in shares of Deere & Co. by 0.3% in the second quarter. Rehmann Capital Advisory Group now owns 2,693 shares of the company’s stock valued at $218,000 after buying an additional 8 shares in the last quarter. JFS Wealth Advisors LLC raised its stake in shares of Deere & Co. by 97.4% in the second quarter. JFS Wealth Advisors LLC now owns 8,842 shares of the company’s stock valued at $717,000 after buying an additional 4,362 shares in the last quarter. Finally, Bank of Montreal Can bought a new stake in shares of Deere & Co. during the second quarter valued at $21,805,000. 70.62% of the stock is currently owned by hedge funds and other institutional investors.
Deere & Co. (NYSE:DE) traded up 0.70% during midday trading on Wednesday, hitting $83.05. The stock had a trading volume of 2,020,055 shares. Deere & Co. has a 52 week low of $70.16 and a 52 week high of $88.63. The firm has a market cap of $26.11 billion, a P/E ratio of 16.64 and a beta of 1.05. The stock has a 50-day moving average of $82.17 and a 200-day moving average of $81.78.
Deere & Co. (NYSE:DE) last announced its quarterly earnings data on Friday, August 19th. The company reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.61. Deere & Co. had a return on equity of 22.73% and a net margin of 5.92%. The business earned $6.72 billion during the quarter. During the same period last year, the firm earned $1.53 earnings per share. The firm’s revenue for the quarter was down 14.3% on a year-over-year basis. Analysts forecast that Deere & Co. will post $4.30 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Friday, September 30th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.89%. Deere & Co.’s dividend payout ratio (DPR) is presently 48.10%.
Several brokerages have weighed in on DE. Zacks Investment Research raised Deere & Co. from a “hold” rating to a “strong-buy” rating and set a $95.00 target price on the stock in a research report on Monday, September 12th. Deutsche Bank AG started coverage on Deere & Co. in a research note on Tuesday, September 6th. They issued a “hold” rating and a $90.00 price target for the company. Barclays PLC reissued a “sell” rating and issued a $63.00 price target on shares of Deere & Co. in a research note on Tuesday, September 6th. Piper Jaffray Cos. reissued an “underweight” rating and issued a $70.00 price target on shares of Deere & Co. in a research note on Tuesday, August 30th. Finally, Jefferies Group decreased their price target on Deere & Co. from $90.00 to $85.00 and set a “hold” rating for the company in a research note on Thursday, August 25th. Eight analysts have rated the stock with a sell rating, nine have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Deere & Co. currently has an average rating of “Hold” and a consensus target price of $81.61.
Deere & Co. Company Profile
Deere & Company is engaged in equipment operations and financial services. The Company operates through three business segments: agriculture and turf, construction and forestry, and financial services. The Company’s agriculture and turf segment primarily manufactures and distributes a full line of agriculture and turf equipment and related service parts.
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