First National Bank of Mount Dora Trust Investment Services lifted its position in Deere & Company (NYSE:DE) by 6.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 38,250 shares of the industrial products company’s stock after buying an additional 2,323 shares during the quarter. Deere & comprises approximately 2.4% of First National Bank of Mount Dora Trust Investment Services’ holdings, making the stock its 19th largest position. First National Bank of Mount Dora Trust Investment Services’ holdings in Deere & were worth $4,804,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Deere & by 5.6% during the 2nd quarter. Vanguard Group Inc. now owns 21,593,762 shares of the industrial products company’s stock worth $2,668,774,000 after acquiring an additional 1,153,484 shares during the last quarter. BlackRock Inc. grew its holdings in Deere & by 2.5% during the 2nd quarter. BlackRock Inc. now owns 17,125,313 shares of the industrial products company’s stock worth $2,116,517,000 after acquiring an additional 409,861 shares during the last quarter. State Street Corp lifted its position in Deere & by 0.4% during 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 purchasing an additional 45,695 shares during the period. Capital International Investors lifted its position in Deere & by 14.4% during 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 purchasing an additional 820,991 shares during the period. Finally, Loomis Sayles & Co. L P lifted its position in Deere & by 0.5% during 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 purchasing 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 issued its quarterly earnings data on Friday, August 18th. The industrial products company reported $1.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.93 by $0.04. Deere & had a return on equity of 25.96% and a net margin of 6.81%. The business had revenue of $6.83 billion for the quarter, compared to the consensus estimate of $6.92 billion. During the same period in the prior year, the business posted $1.55 earnings per share. The company’s quarterly revenue was up 16.6% compared to the same quarter last year. Equities analysts expect that Deere & Company will post $6.52 EPS for the current 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 given 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 yield of 1.80%. Deere &’s dividend payout ratio (DPR) is presently 40.20%.
DE has been the topic of a number of research reports. ValuEngine upgraded shares of Deere & from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Deutsche Bank AG restated a “hold” rating and set a $139.00 target price (up from $135.00) on shares of Deere & in a research report on Friday, August 11th. Jefferies Group LLC reiterated a “hold” rating and issued a $125.00 price target on shares of Deere & in a research report on Wednesday, August 9th. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating on shares of Deere & in a research report on Sunday, August 20th. Finally, Credit Suisse Group downgraded shares of Deere & from a “neutral” rating to an “outperform” rating in a research report on Tuesday, August 22nd. Three investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have assigned a buy rating to the stock. Deere & currently has an average 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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