Barrow Hanley Mewhinney & Strauss LLC reduced its stake in shares of Deere & Company (NYSE:DE) by 7.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 485,033 shares of the industrial products company’s stock after selling 38,323 shares during the quarter. Barrow Hanley Mewhinney & Strauss LLC owned 0.15% of Deere & Company worth $60,915,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in DE. QCI Asset Management Inc. NY raised its stake in Deere & Company by 18.8% during the 2nd quarter. QCI Asset Management Inc. NY now owns 950 shares of the industrial products company’s stock valued at $117,000 after purchasing an additional 150 shares during the last quarter. Arrow Financial Corp raised its stake in shares of Deere & Company by 5.2% in the 2nd quarter. Arrow Financial Corp now owns 1,010 shares of the industrial products company’s stock valued at $125,000 after buying an additional 50 shares in the last quarter. Wealthcare Advisory Partners LLC acquired a new position in shares of Deere & Company in the 3rd quarter valued at $144,000. Harfst & Associates Inc. raised its stake in shares of Deere & Company by 44.2% in the 2nd quarter. Harfst & Associates Inc. now owns 1,175 shares of the industrial products company’s stock valued at $145,000 after buying an additional 360 shares in the last quarter. Finally, YorkBridge Wealth Partners LLC raised its stake in shares of Deere & Company by 1.1% in the 2nd quarter. YorkBridge Wealth Partners LLC now owns 1,236 shares of the industrial products company’s stock valued at $154,000 after buying an additional 13 shares in the last quarter. Hedge funds and other institutional investors own 67.75% of the company’s stock.
In other news, insider John C. May II sold 20,835 shares of the company’s stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $151.07, for a total value of $3,147,543.45. Following the sale, the insider now owns 11,383 shares of the company’s stock, valued at approximately $1,719,629.81. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Rajesh Kalathur sold 4,519 shares of the company’s stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $148.92, for a total transaction of $672,969.48. Following the completion of the sale, the chief financial officer now directly owns 36,288 shares in the company, valued at approximately $5,404,008.96. The disclosure for this sale can be found here. In the last ninety days, insiders sold 246,737 shares of company stock worth $33,989,443. 0.85% of the stock is owned by insiders.
Shares of Deere & Company (NYSE:DE) opened at $150.87 on Friday. The company has a quick ratio of 1.95, a current ratio of 2.12 and a debt-to-equity ratio of 2.71. Deere & Company has a fifty-two week low of $100.90 and a fifty-two week high of $153.34. The firm has a market cap of $48,475.68, a PE ratio of 22.72, a PEG ratio of 2.32 and a beta of 0.77.
Deere & Company (NYSE:DE) last posted its earnings results on Wednesday, November 22nd. The industrial products company reported $1.57 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.47 by $0.10. Deere & Company had a net margin of 7.22% and a return on equity of 26.31%. The business had revenue of $7.09 billion for the quarter, compared to analyst estimates of $6.91 billion. During the same quarter in the prior year, the firm earned $0.90 EPS. The firm’s quarterly revenue was up 25.6% compared to the same quarter last year. research analysts expect that Deere & Company will post 7.94 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders of record on Friday, December 29th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 1.59%. The ex-dividend date is Thursday, December 28th. Deere & Company’s payout ratio is 36.14%.
A number of equities analysts have recently issued reports on DE shares. ValuEngine upgraded shares of Deere & Company from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Deutsche Bank increased their price objective on shares of Deere & Company from $129.00 to $149.00 and gave the company a “hold” rating in a research note on Thursday, November 16th. Zacks Investment Research upgraded shares of Deere & Company from a “hold” rating to a “buy” rating and set a $150.00 price objective for the company in a research note on Thursday, November 2nd. Goldman Sachs Group restated a “buy” rating on shares of Deere & Company in a research note on Sunday, August 20th. Finally, Robert W. Baird upgraded shares of Deere & Company from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $140.00 to $155.00 in a research note on Tuesday, November 21st. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $143.68.
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About Deere & Company
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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