Charter Trust Co. trimmed its position in Deere & Company (NYSE:DE) by 2.5% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 13,823 shares of the industrial products company’s stock after selling 350 shares during the period. Charter Trust Co.’s holdings in Deere & Company were worth $2,078,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of DE. FMR LLC lifted its holdings in Deere & Company by 3.2% in the second quarter. FMR LLC now owns 10,120,872 shares of the industrial products company’s stock worth $1,414,898,000 after acquiring an additional 316,150 shares during the last quarter. Loomis Sayles & Co. L P lifted its holdings in Deere & Company by 2.1% in the third quarter. Loomis Sayles & Co. L P now owns 6,750,728 shares of the industrial products company’s stock worth $1,014,837,000 after acquiring an additional 141,869 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Deere & Company by 1.0% in the third quarter. Bank of New York Mellon Corp now owns 3,909,749 shares of the industrial products company’s stock worth $587,750,000 after acquiring an additional 37,487 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in Deere & Company by 11.8% in the second quarter. Janus Henderson Group PLC now owns 2,871,865 shares of the industrial products company’s stock worth $401,491,000 after acquiring an additional 303,621 shares during the last quarter. Finally, Findlay Park Partners LLP lifted its holdings in Deere & Company by 86.4% in the second quarter. Findlay Park Partners LLP now owns 1,359,572 shares of the industrial products company’s stock worth $190,068,000 after acquiring an additional 630,000 shares during the last quarter. Institutional investors and hedge funds own 65.54% of the company’s stock.
In related news, CFO Rajesh Kalathur sold 11,133 shares of the firm’s stock in a transaction that occurred on Thursday, November 29th. The shares were sold at an average price of $151.47, for a total transaction of $1,686,315.51. Following the transaction, the chief financial officer now owns 42,244 shares in the company, valued at $6,398,698.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.74% of the stock is owned by company insiders.
DE opened at $154.39 on Friday. The company has a market cap of $48.76 billion, a PE ratio of 16.23, a price-to-earnings-growth ratio of 1.47 and a beta of 1.00. The company has a current ratio of 1.92, a quick ratio of 1.67 and a debt-to-equity ratio of 2.41. Deere & Company has a twelve month low of $128.32 and a twelve month high of $175.26.
Deere & Company (NYSE:DE) last released its quarterly earnings results on Wednesday, November 21st. The industrial products company reported $2.30 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.44 by ($0.14). The business had revenue of $8.34 billion for the quarter, compared to the consensus estimate of $8.59 billion. Deere & Company had a net margin of 6.34% and a return on equity of 29.61%. The business’s quarterly revenue was up 17.6% on a year-over-year basis. During the same period last year, the firm posted $1.57 EPS. As a group, analysts anticipate that Deere & Company will post 11.48 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 1st. Investors of record on Monday, December 31st will be paid a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date of this dividend is Friday, December 28th. This is a positive change from Deere & Company’s previous quarterly dividend of $0.69. Deere & Company’s dividend payout ratio (DPR) is currently 29.39%.
DE has been the topic of a number of recent research reports. Bank of America reissued a “buy” rating and issued a $173.00 target price (up previously from $163.00) on shares of Deere & Company in a report on Monday. Zacks Investment Research cut shares of Deere & Company from a “hold” rating to a “sell” rating in a report on Tuesday, November 20th. Deutsche Bank set a $155.00 target price on shares of Deere & Company and gave the stock a “hold” rating in a report on Wednesday, September 5th. Argus lifted their price target on Deere & Company to $166.00 and gave the company a “buy” rating in a report on Tuesday, November 27th. Finally, Cfra set a $158.00 price target on Deere & Company and gave the company a “hold” rating in a report on Wednesday, November 21st. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and fifteen have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $177.35.
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Deere & Company Profile
Deere & Company, together with its subsidiaries, manufactures and distributes agriculture and turf, and construction and forestry equipment worldwide. The company's Agriculture and Turf segment provides agriculture and turf equipment, and related service parts, including large, medium, and utility tractors; tractor loaders; combines, cotton pickers, cotton strippers, and sugarcane harvesters; related harvesting front-end equipment; sugarcane loaders and pull-behind scrapers; and tillage, seeding, and application equipment comprising sprayers, and nutrient management and soil preparation machinery.
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