United Services Automobile Association lowered its stake in shares of Deere & Company (NYSE:DE) by 8.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 514,721 shares of the industrial products company’s stock after selling 49,322 shares during the period. United Services Automobile Association owned approximately 0.16% of Deere & worth $56,033,000 as of its most recent filing with the SEC.
A number of other large investors have also recently made changes to their positions in DE. Ledyard National Bank boosted its stake in Deere & by 5.0% in the first quarter. Ledyard National Bank now owns 1,050 shares of the industrial products company’s stock valued at $114,000 after buying an additional 50 shares in the last quarter. MCF Advisors LLC boosted its position in shares of Deere & by 26.2% in the first quarter. MCF Advisors LLC now owns 1,160 shares of the industrial products company’s stock worth $126,000 after buying an additional 241 shares during the period. Endurance Wealth Management Inc. boosted its position in shares of Deere & by 2.2% in the first quarter. Endurance Wealth Management Inc. now owns 1,404 shares of the industrial products company’s stock worth $153,000 after buying an additional 30 shares during the period. Heritage Trust Co acquired a new position in shares of Deere & during the first quarter worth about $185,000. Finally, Oakworth Capital Inc. boosted its position in shares of Deere & by 29.1% in the first quarter. Oakworth Capital Inc. now owns 1,775 shares of the industrial products company’s stock worth $193,000 after buying an additional 400 shares during the period. 67.31% of the stock is owned by institutional investors and hedge funds.
Deere & Company (NYSE:DE) traded up 0.12% on Friday, reaching $125.75. 1,455,787 shares of the company’s stock were exchanged. Deere & Company has a one year low of $76.73 and a one year high of $129.00. The firm has a market cap of $40.22 billion, a PE ratio of 22.64 and a beta of 0.66. The firm has a 50 day moving average price of $125.31 and a 200 day moving average price of $114.11.
Deere & (NYSE:DE) last released its quarterly earnings data on Friday, May 19th. The industrial products company reported $2.49 EPS for the quarter, topping analysts’ consensus estimates of $1.70 by $0.79. The company had revenue of $7.26 billion for the quarter, compared to the consensus estimate of $7.27 billion. Deere & had a return on equity of 24.85% and a net margin of 6.52%. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period last year, the business posted $1.56 EPS. On average, equities analysts anticipate that Deere & Company will post $6.30 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 1st. Stockholders of record on Friday, June 30th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Wednesday, June 28th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.91%. Deere &’s dividend payout ratio (DPR) is 43.24%.
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A number of research analysts recently issued reports on DE shares. Vetr raised shares of Deere & from a “hold” rating to a “buy” rating and set a $118.76 price target for the company in a research report on Monday, March 27th. Citigroup Inc. restated a “positive” rating on shares of Deere & in a research note on Tuesday, March 28th. Stifel Nicolaus initiated coverage on shares of Deere & in a research note on Monday, April 10th. They set a “buy” rating and a $126.00 price objective for the company. Credit Suisse Group set a $132.00 price objective on shares of Deere & and gave the company a “buy” rating in a research note on Wednesday, April 12th. Finally, Barclays PLC reiterated a “sell” rating and issued a $82.00 price target (up from $80.00) on shares of Deere & in a research note on Tuesday, April 18th. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $122.24.
In other news, VP Marc A. Howze sold 6,624 shares of the stock in a transaction dated Friday, May 19th. The stock was sold at an average price of $119.59, for a total value of $792,164.16. Following the completion of the sale, the vice president now owns 9,004 shares in the company, valued at $1,076,788.36. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Cory J. Reed sold 4,936 shares of the stock in a transaction dated Friday, June 16th. The shares were sold at an average price of $128.00, for a total value of $631,808.00. Following the completion of the sale, the insider now owns 9,903 shares of the company’s stock, valued at approximately $1,267,584. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 105,612 shares of company stock worth $13,149,023. 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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