Investors Sell Deere & Company (DE) on Strength (DE)
Traders sold shares of Deere & Company (NYSE:DE) on strength during trading hours on Friday. $79.10 million flowed into the stock on the tick-up and $441.03 million flowed out of the stock on the tick-down, for a money net flow of $361.93 million out of the stock. Of all companies tracked, Deere & had the 4th highest net out-flow for the day. Deere & traded up $0.64 for the day and closed at $119.01
Several equities research analysts have recently issued reports on the company. Jefferies Group LLC reaffirmed a “hold” rating and issued a $125.00 target price on shares of Deere & in a report on Wednesday, August 9th. Goldman Sachs Group, Inc. (The) assumed coverage on Deere & in a report on Tuesday, August 8th. They issued a “buy” rating on the stock. Bank of America Corporation cut Deere & from a “buy” rating to a “neutral” rating and set a $145.00 target price on the stock. in a report on Tuesday, August 15th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $150.00 target price (up from $140.00) on shares of Deere & in a report on Wednesday, August 16th. Finally, Deutsche Bank AG reaffirmed a “hold” rating and issued a $139.00 target price (up from $135.00) on shares of Deere & in a report on Friday, August 11th. Three investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and ten have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $127.58.
The company’s 50-day moving average price is $122.08 and its 200-day moving average price is $118.24. The firm has a market cap of $38.24 billion, a PE ratio of 19.77 and a beta of 0.70.
Deere & (NYSE:DE) last announced its quarterly earnings results on Friday, August 18th. The industrial products company reported $1.97 earnings per share (EPS) 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 net margin of 6.81% and a return on equity of 25.96%. The business’s revenue was up 16.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.55 EPS. Equities analysts forecast that Deere & Company will post $6.52 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Friday, September 29th will be issued a dividend of $0.60 per share. The ex-dividend date is Thursday, September 28th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.02%. Deere &’s dividend payout ratio is currently 40.20%.
In related news, insider Pentz Markwart Von sold 46,457 shares of Deere & stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $116.74, for a total value of $5,423,390.18. Following the completion of the sale, the insider now owns 47,165 shares in the company, valued at approximately $5,506,042.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jean H. Gilles sold 8,015 shares of Deere & stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $129.99, for a total transaction of $1,041,869.85. Following the completion of 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. Insiders have sold a total of 71,833 shares of company stock valued at $8,725,404 in the last 90 days. Insiders own 0.85% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the stock. Achmea Investment Management B.V. increased its holdings in Deere & by 175.7% in the 2nd quarter. Achmea Investment Management B.V. now owns 28,303 shares of the industrial products company’s stock valued at $3,496,000 after purchasing an additional 18,036 shares during the last quarter. Toronto Dominion Bank increased its holdings in Deere & by 25.3% in the 2nd quarter. Toronto Dominion Bank now owns 101,897 shares of the industrial products company’s stock valued at $12,591,000 after purchasing an additional 20,596 shares during the last quarter. Cookson Peirce & Co. Inc. acquired a new stake in Deere & in the 2nd quarter valued at approximately $832,000. Advisory Services Network LLC increased its holdings in Deere & by 50.9% in the 2nd quarter. Advisory Services Network LLC now owns 4,818 shares of the industrial products company’s stock valued at $596,000 after purchasing an additional 1,626 shares during the last quarter. Finally, Beaton Management Co. Inc. acquired a new stake in Deere & in the 2nd quarter valued at approximately $784,000. Hedge funds and other institutional investors own 66.58% of the company’s stock.
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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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