Deere & Company (DE) Stake Cut by ING Groep NV
ING Groep NV cut its stake in Deere & Company (NYSE:DE) by 6.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,999 shares of the industrial products company’s stock after selling 574 shares during the period. ING Groep NV’s holdings in Deere & were worth $1,112,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in the company. CrestPoint Capital Management LLC bought a new stake in shares of Deere & during the first quarter valued at about $359,000. Capstone Asset Management Co. boosted its stake in shares of Deere & by 53.2% in the first quarter. Capstone Asset Management Co. now owns 38,143 shares of the industrial products company’s stock valued at $4,152,000 after buying an additional 13,250 shares in the last quarter. Private Trust Co. NA bought a new stake in shares of Deere & during the first quarter valued at about $209,000. Winslow Evans & Crocker Inc. boosted its stake in shares of Deere & by 141.2% in the first quarter. Winslow Evans & Crocker Inc. now owns 7,526 shares of the industrial products company’s stock valued at $819,000 after buying an additional 4,406 shares in the last quarter. Finally, First National Bank & Trust Co. of Newtown boosted its stake in shares of Deere & by 6.2% in the first quarter. First National Bank & Trust Co. of Newtown now owns 2,555 shares of the industrial products company’s stock valued at $278,000 after buying an additional 150 shares in the last quarter. 67.35% of the stock is owned by hedge funds and other institutional investors.
Shares of Deere & Company (DE) traded down 0.85% during midday trading on Friday, hitting $126.70. 2,305,693 shares of the stock were exchanged. The firm has a market cap of $40.53 billion, a P/E ratio of 22.81 and a beta of 0.67. The stock’s 50 day moving average is $126.67 and its 200 day moving average is $116.64. Deere & Company has a 12-month low of $76.73 and a 12-month high of $132.50.
Deere & (NYSE:DE) last posted its quarterly earnings results on Friday, May 19th. The industrial products company reported $2.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.70 by $0.79. The company had revenue of $7.26 billion for the quarter, compared to analyst estimates of $7.27 billion. Deere & had a net margin of 6.52% and a return on equity of 24.85%. The business’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period last year, the business posted $1.56 EPS. On average, equities research analysts forecast that Deere & Company will post $6.37 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Friday, June 30th were given a $0.60 dividend. The ex-dividend date of this dividend was Wednesday, June 28th. This represents a $2.40 annualized dividend and a yield of 1.89%. Deere &’s dividend payout ratio is 43.24%.
Several brokerages have recently issued reports on DE. Deutsche Bank AG reissued a “hold” rating and set a $139.00 price objective (up from $135.00) on shares of Deere & in a research note on Friday. Jefferies Group LLC reissued a “hold” rating and set a $125.00 price objective on shares of Deere & in a research note on Wednesday. Goldman Sachs Group, Inc. (The) began coverage on shares of Deere & in a research note on Tuesday, August 8th. They set a “buy” rating for the company. BidaskClub cut shares of Deere & from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Finally, Berenberg Bank lowered their price objective on shares of Deere & from $100.00 to $90.00 and set a “sell” rating for the company in a research note on Wednesday, June 28th. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and thirteen have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $122.79.
In other Deere & news, VP Marc A. Howze sold 6,624 shares of the firm’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 sale, the vice president now directly owns 9,004 shares in the company, valued at approximately $1,076,788.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Samuel R. Allen sold 62,704 shares of the firm’s stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $125.00, for a total transaction of $7,838,000.00. Following the completion of the sale, the chief executive officer now owns 333,492 shares in the company, valued at $41,686,500. The disclosure for this sale can be found here. Insiders sold a total of 130,988 shares of company stock worth $16,451,037 over the last 90 days. Company insiders own 0.85% of the company’s stock.
Deere & Company 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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