Beacon Financial Group trimmed its position in Deere & Company (NYSE:DE) by 97.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,108 shares of the industrial products company’s stock after selling 84,166 shares during the quarter. Beacon Financial Group’s holdings in Deere & were worth $265,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Deere & by 5.6% in the 2nd quarter. Vanguard Group Inc. now owns 21,593,762 shares of the industrial products company’s stock valued at $2,668,774,000 after buying an additional 1,153,484 shares during the period. BlackRock Inc. increased its holdings in Deere & by 2.5% in the 2nd quarter. BlackRock Inc. now owns 17,125,313 shares of the industrial products company’s stock valued at $2,116,517,000 after buying an additional 409,861 shares during the period. State Street Corp increased its holdings in Deere & by 0.4% in the 1st quarter. State Street Corp now owns 12,267,999 shares of the industrial products company’s stock valued at $1,335,500,000 after buying an additional 45,695 shares during the period. Capital International Investors increased its holdings in Deere & by 14.4% in the 2nd quarter. Capital International Investors now owns 6,506,943 shares of the industrial products company’s stock valued at $804,193,000 after buying an additional 820,991 shares during the period. Finally, Loomis Sayles & Co. L P increased its holdings in Deere & by 0.5% in the 1st quarter. Loomis Sayles & Co. L P now owns 5,860,666 shares of the industrial products company’s stock valued at $637,992,000 after buying an additional 26,303 shares during the period. Hedge funds and other institutional investors own 66.12% of the company’s stock.
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Deere & Company (NYSE DE) traded up 0.84% during midday trading on Friday, hitting $133.25. The stock had a trading volume of 1,658,273 shares. The company has a 50-day moving average price of $124.72 and a 200-day moving average price of $121.81. Deere & Company has a 52 week low of $86.67 and a 52 week high of $133.31. The stock has a market cap of $42.81 billion, a P/E ratio of 22.13 and a beta of 0.69.
Deere & (NYSE:DE) last posted 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. The company had revenue of $6.83 billion for 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 business earned $1.55 earnings per share. Equities analysts expect that Deere & Company will post $6.52 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Friday, September 29th will be given a $0.60 dividend. The ex-dividend date is Thursday, September 28th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.80%. Deere &’s dividend payout ratio is currently 40.20%.
DE has been the topic of a number of research analyst reports. Goldman Sachs Group, Inc. (The) raised shares of Deere & from a “buy” rating to a “conviction-buy” rating and set a $129.75 price objective on the stock in a report on Monday, August 7th. ValuEngine upgraded shares of Deere & from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. BidaskClub downgraded shares of Deere & from a “hold” rating to a “sell” rating in a research report on Saturday, August 26th. Piper Jaffray Companies set a $119.00 target price on shares of Deere & and gave the company a “hold” rating in a research report on Friday, August 25th. Finally, Deutsche Bank AG restated a “hold” rating and set a $129.00 target price (down from $135.00) on shares of Deere & in a research report on Monday, October 9th. Three investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $127.97.
In other Deere & news, insider Max A. Guinn sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $130.89, for a total transaction of $654,450.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider John C. May II sold 18,626 shares of the company’s stock in a transaction that occurred on Tuesday, October 24th. The shares were sold at an average price of $130.76, for a total value of $2,435,535.76. Following the sale, the insider now owns 37,462 shares in the company, valued at $4,898,531.12. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 134,649 shares of company stock worth $16,621,498. Company 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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