Investors Sell Deere & Company (DE) on Strength (DE)
Investors sold shares of Deere & Company (NYSE:DE) on strength during trading on Friday. $67.83 million flowed into the stock on the tick-up and $94.97 million flowed out of the stock on the tick-down, for a money net flow of $27.14 million out of the stock. Of all equities tracked, Deere & had the 30th highest net out-flow for the day. Deere & traded up $0.97 for the day and closed at $117.30
Several research analysts recently issued reports on the stock. UBS AG reiterated a “neutral” rating and set a $122.00 price target (up previously from $112.00) on shares of Deere & in a research report on Monday, May 22nd. Credit Suisse Group set a $132.00 price target on shares of Deere & and gave the stock a “buy” rating in a research report on Saturday, May 20th. Bank of America Corporation upped their price target on shares of Deere & from $130.00 to $145.00 and gave the stock a “buy” rating in a research report on Wednesday, May 24th. Barclays PLC set a $100.00 price target on shares of Deere & and gave the stock a “sell” rating in a research report on Sunday, June 4th. Finally, Robert W. Baird downgraded shares of Deere & from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $140.00 to $130.00 in a research report on Friday, August 18th. Three research analysts have rated the stock with a sell rating, sixteen have given a hold rating and ten have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $127.58.
The firm has a market capitalization of $37.63 billion, a price-to-earnings ratio of 19.48 and a beta of 0.70. The stock has a 50 day moving average price of $123.38 and a 200-day moving average price of $117.99.
Deere & (NYSE:DE) last issued its earnings results on Friday, August 18th. The industrial products company reported $1.97 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.93 by $0.04. The business had revenue of $6.83 billion during the quarter, compared to the consensus estimate of $6.92 billion. Deere & had a return on equity of 25.96% and a net margin of 6.81%. The firm’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.55 earnings per share. Equities analysts anticipate that Deere & Company will post $6.52 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Friday, September 29th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $2.40 dividend on an annualized basis and a yield of 2.05%. Deere &’s payout ratio is currently 40.20%.
In other news, insider Cory J. Reed sold 4,936 shares of the business’s stock in a transaction that occurred on Friday, June 16th. The stock was sold at an average price of $128.00, for a total transaction of $631,808.00. Following the completion of the sale, the insider now owns 9,903 shares in the company, valued at $1,267,584. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Jean H. Gilles sold 8,015 shares of the business’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $9,181,843.65. The disclosure for this sale can be found here. Over the last quarter, insiders sold 76,769 shares of company stock valued at $9,357,212. 0.85% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. QCI Asset Management Inc. NY increased its holdings in shares of Deere & by 18.8% during the second quarter. QCI Asset Management Inc. NY now owns 950 shares of the industrial products company’s stock valued at $117,000 after acquiring an additional 150 shares in the last quarter. Guardian Life Insurance Co. of America increased its holdings in shares of Deere & by 1.4% during the first quarter. Guardian Life Insurance Co. of America now owns 1,132 shares of the industrial products company’s stock valued at $123,000 after acquiring an additional 16 shares in the last quarter. Arrow Financial Corp increased its holdings in shares of Deere & by 5.2% during the second quarter. Arrow Financial Corp now owns 1,010 shares of the industrial products company’s stock valued at $125,000 after acquiring an additional 50 shares in the last quarter. MCF Advisors LLC increased its holdings in shares of Deere & by 26.2% during the first quarter. MCF Advisors LLC now owns 1,160 shares of the industrial products company’s stock valued at $126,000 after acquiring an additional 241 shares in the last quarter. Finally, Harfst & Associates Inc. increased its holdings in shares of Deere & by 44.2% during the second quarter. Harfst & Associates Inc. now owns 1,175 shares of the industrial products company’s stock valued at $145,000 after acquiring an additional 360 shares in the last quarter. Hedge funds and other institutional investors own 67.21% of the company’s stock.
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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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