Advisory Services Network LLC increased its stake in shares of Deere & Company (NYSE:DE) by 50.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,818 shares of the industrial products company’s stock after buying an additional 1,626 shares during the quarter. Advisory Services Network LLC’s holdings in Deere & were worth $596,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Beaton Management Co. Inc. bought a new position in Deere & in the 2nd quarter valued at $784,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Deere & during the 2nd quarter worth $744,000. WINTON GROUP Ltd grew its stake in shares of Deere & by 478.7% during the 2nd quarter. WINTON GROUP Ltd now owns 91,430 shares of the industrial products company’s stock worth $11,300,000 after acquiring an additional 75,631 shares during the period. Public Employees Retirement System of Ohio grew its stake in shares of Deere & by 0.9% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 245,268 shares of the industrial products company’s stock worth $30,313,000 after acquiring an additional 2,161 shares during the period. Finally, Colony Group LLC bought a new position in shares of Deere & during the 2nd quarter worth $289,000. Institutional investors and hedge funds own 66.12% of the company’s stock.
Several research analysts have recently weighed in on the company. Argus reiterated a “buy” rating and set a $140.00 price target on shares of Deere & in a research note on Tuesday, August 22nd. BidaskClub cut Deere & from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Zacks Investment Research cut Deere & from a “buy” rating to a “hold” rating in a report on Monday, August 21st. Credit Suisse Group cut Deere & from a “neutral” rating to an “outperform” rating in a report on Tuesday, August 22nd. Finally, Bank of America Corporation cut Deere & from a “buy” rating to a “neutral” rating and set a $145.00 price target on the stock. in a report on Tuesday, August 15th. Three equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $127.97.
Deere & Company (NYSE DE) traded up 0.84% on Friday, hitting $133.25. The stock had a trading volume of 1,658,273 shares. The firm has a market capitalization of $42.81 billion, a price-to-earnings ratio of 22.13 and a beta of 0.69. The stock’s 50-day moving average is $124.72 and its 200 day moving average is $121.81. Deere & Company has a 1-year low of $86.67 and a 1-year high of $133.31.
Deere & (NYSE:DE) last issued its earnings results on Friday, August 18th. The industrial products company reported $1.97 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $6.92 billion. During the same quarter in the previous year, the firm posted $1.55 earnings per share. The company’s revenue was up 16.6% compared to the same quarter last year. On average, equities research analysts predict that Deere & Company will post $6.52 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Friday, September 29th will be paid a $0.60 dividend. The ex-dividend date is Thursday, September 28th. This represents a $2.40 annualized dividend and a yield of 1.80%. Deere &’s dividend payout ratio is presently 40.20%.
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In related news, insider Jean H. Gilles sold 12,361 shares of the stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $129.90, for a total transaction of $1,605,693.90. Following the completion of the transaction, the insider now directly owns 74,981 shares of the company’s stock, valued at $9,740,031.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John C. May II sold 18,626 shares of the stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $130.76, for a total transaction of $2,435,535.76. Following the transaction, the insider now directly owns 37,462 shares of the company’s stock, valued at $4,898,531.12. The disclosure for this sale can be found here. Insiders sold 134,649 shares of company stock valued at $16,621,498 over the last ninety days. Corporate 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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