Deere & Company (DE) Position Decreased by Geneva Advisors LLC
Geneva Advisors LLC reduced its position in shares of Deere & Company (NYSE:DE) by 8.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,899 shares of the industrial products company’s stock after selling 773 shares during the period. Geneva Advisors LLC’s holdings in Deere & were worth $1,100,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in DE. DUPONT CAPITAL MANAGEMENT Corp bought a new position in shares of Deere & during the first quarter valued at about $3,483,000. Sumitomo Mitsui Asset Management Company LTD lifted its position in shares of Deere & by 12.0% during the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 22,590 shares of the industrial products company’s stock valued at $2,459,000 after purchasing an additional 2,424 shares in the last quarter. BB&T Corp lifted its position in shares of Deere & by 39.4% during the first quarter. BB&T Corp now owns 39,301 shares of the industrial products company’s stock valued at $4,278,000 after purchasing an additional 11,101 shares in the last quarter. Canada Pension Plan Investment Board lifted its position in shares of Deere & by 455.7% during the first quarter. Canada Pension Plan Investment Board now owns 222,886 shares of the industrial products company’s stock valued at $24,263,000 after purchasing an additional 182,776 shares in the last quarter. Finally, Tocqueville Asset Management L.P. lifted its position in shares of Deere & by 52.2% during the first quarter. Tocqueville Asset Management L.P. now owns 191,640 shares of the industrial products company’s stock valued at $20,862,000 after purchasing an additional 65,735 shares in the last quarter. 66.58% of the stock is currently owned by institutional investors.
A number of research analysts recently weighed in on DE shares. TheStreet raised shares of Deere & from a “c+” rating to an “a-” rating in a research report on Friday, May 19th. Citigroup Inc. raised their price target on shares of Deere & from $125.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, May 23rd. Stifel Nicolaus raised their price target on shares of Deere & from $126.00 to $135.00 and gave the company a “buy” rating in a research report on Monday, May 22nd. Credit Suisse Group set a $132.00 price target on shares of Deere & and gave the company a “buy” rating in a research report on Saturday, May 20th. Finally, Bank of America Corporation raised their price target on shares of Deere & from $130.00 to $145.00 and gave the company a “buy” rating in a research report on Wednesday, May 24th. Three investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and ten have issued a buy rating to the stock. Deere & has a consensus rating of “Hold” and a consensus price target of $127.58.
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Deere & Company (NYSE DE) opened at 117.37 on Thursday. The stock has a market cap of $37.71 billion, a PE ratio of 19.49 and a beta of 0.70. The company’s 50-day moving average is $122.65 and its 200 day moving average is $118.24. Deere & Company has a 52 week low of $80.35 and a 52 week high of $132.50.
Deere & (NYSE:DE) last issued its quarterly earnings data on Friday, August 18th. The industrial products company reported $1.97 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.93 by $0.04. Deere & had a net margin of 6.81% and a return on equity of 25.96%. The firm had revenue of $6.83 billion for the quarter, compared to analysts’ expectations of $6.92 billion. During the same quarter in the prior year, the business earned $1.55 EPS. The business’s quarterly revenue was up 16.6% on a year-over-year basis. On average, analysts expect that Deere & Company will post $6.52 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Friday, September 29th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 2.04%. The ex-dividend date of this dividend is Thursday, September 28th. Deere &’s dividend payout ratio (DPR) is presently 40.20%.
In other Deere & news, insider Cory J. Reed sold 4,936 shares of the firm’s stock in a transaction that occurred on Friday, June 16th. The shares were sold at an average price of $128.00, for a total transaction of $631,808.00. Following the sale, the insider now owns 9,903 shares in the company, valued at approximately $1,267,584. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jean H. Gilles sold 12,361 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $129.90, for a total transaction of $1,605,693.90. Following the sale, the insider now owns 74,981 shares in the company, valued at approximately $9,740,031.90. The disclosure for this sale can be found here. Insiders sold a total of 76,769 shares of company stock worth $9,357,212 in the last quarter. 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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