Cypress Asset Management Inc. TX Sells 430 Shares of Deere & Company (DE)
Cypress Asset Management Inc. TX reduced its stake in Deere & Company (NYSE:DE) by 6.8% during the second quarter, Holdings Channel reports. The institutional investor owned 5,881 shares of the industrial products company’s stock after selling 430 shares during the period. Cypress Asset Management Inc. TX’s holdings in Deere & were worth $727,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in DE. Gulf International Bank UK Ltd raised its stake in Deere & by 1.2% in the first quarter. Gulf International Bank UK Ltd now owns 82,746 shares of the industrial products company’s stock valued at $9,007,000 after buying an additional 1,000 shares in the last quarter. Mutual of Omaha Bank Wealth Management bought a new stake in Deere & during the first quarter valued at approximately $218,000. Country Club Trust Company n.a. bought a new stake in Deere & during the first quarter valued at approximately $210,000. Carroll Financial Associates Inc. raised its stake in Deere & by 5.1% in the first quarter. Carroll Financial Associates Inc. now owns 1,835 shares of the industrial products company’s stock valued at $199,000 after buying an additional 89 shares in the last quarter. Finally, Stillwater Investment Management LLC raised its stake in Deere & by 0.5% in the first quarter. Stillwater Investment Management LLC now owns 15,900 shares of the industrial products company’s stock valued at $1,731,000 after buying an additional 85 shares in the last quarter. Institutional investors and hedge funds own 67.35% of the company’s stock.
Shares of Deere & Company (DE) traded down 2.38% during mid-day trading on Thursday, hitting $129.26. The company’s stock had a trading volume of 1,287,682 shares. Deere & Company has a 12-month low of $76.73 and a 12-month high of $132.50. The stock has a 50-day moving average of $126.50 and a 200-day moving average of $116.42. The company has a market cap of $41.35 billion, a PE ratio of 23.27 and a beta of 0.67. Deere & also saw unusually large options trading on Monday. Stock traders acquired 731 call options on the company. This is an increase of 255% compared to the average daily volume of 206 call options.
Deere & (NYSE:DE) last released its quarterly earnings results on Friday, May 19th. The industrial products company reported $2.49 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.70 by $0.79. The company had revenue of $7.26 billion during the quarter, compared to analysts’ expectations of $7.27 billion. Deere & had a return on equity of 24.85% and a net margin of 6.52%. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.56 earnings per share. On average, equities research analysts forecast that Deere & Company will post $6.37 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Investors of record on Friday, June 30th were paid a $0.60 dividend. The ex-dividend date was Wednesday, June 28th. This represents a $2.40 annualized dividend and a yield of 1.81%. Deere &’s payout ratio is currently 43.24%.
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A number of research analysts have recently issued reports on DE shares. Credit Suisse Group set a $132.00 target price on Deere & and gave the company a “buy” rating in a research report on Wednesday, April 12th. Barclays PLC reiterated a “sell” rating and set a $82.00 target price (up previously from $80.00) on shares of Deere & in a research report on Tuesday, April 18th. BMO Capital Markets reiterated a “buy” rating and set a $128.00 target price on shares of Deere & in a research report on Thursday, April 20th. J P Morgan Chase & Co upgraded Deere & to an “underweight” rating and increased their target price for the company from $90.00 to $94.00 in a research report on Monday, May 1st. Finally, Stifel Nicolaus increased their target price on Deere & from $126.00 to $135.00 and gave the company a “buy” rating in a research report on Monday, May 22nd. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $122.60.
In related news, insider Max A. Guinn sold 5,000 shares of the company’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $130.89, for a total value of $654,450.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Marc A. Howze sold 6,624 shares of the company’s stock in a transaction on Friday, May 19th. The shares were sold at an average price of $119.59, for a total value of $792,164.16. Following the completion of the transaction, the vice president now owns 9,004 shares of the company’s stock, valued at $1,076,788.36. The disclosure for this sale can be found here. Insiders sold 130,988 shares of company stock valued at $16,451,037 over the last quarter. Insiders own 0.85% of the company’s stock.
About Deere &
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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