State Farm Mutual Automobile Insurance Co. Has $390,899,000 Stake in Deere & Company (DE)

State Farm Mutual Automobile Insurance Co. continued to hold its position in shares of Deere & Company (NYSE:DE) during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 3,590,843 shares of the industrial products company’s stock at the end of the first quarter. State Farm Mutual Automobile Insurance Co. owned approximately 1.13% of Deere & worth $390,899,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. First Eagle Investment Management LLC raised its position in Deere & by 5.1% in the first quarter. First Eagle Investment Management LLC now owns 6,652,623 shares of the industrial products company’s stock valued at $724,205,000 after buying an additional 322,158 shares during the last quarter. Thomaspartners Inc. increased its stake in shares of Deere & by 5.9% in the first quarter. Thomaspartners Inc. now owns 1,770,719 shares of the industrial products company’s stock valued at $192,760,000 after buying an additional 99,426 shares during the period. Los Angeles Capital Management & Equity Research Inc. increased its stake in shares of Deere & by 14.1% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 1,410,093 shares of the industrial products company’s stock valued at $153,503,000 after buying an additional 174,593 shares during the period. Swiss National Bank increased its stake in shares of Deere & by 27.3% in the first quarter. Swiss National Bank now owns 946,919 shares of the industrial products company’s stock valued at $103,082,000 after buying an additional 203,100 shares during the period. Finally, UBS Asset Management Americas Inc. increased its stake in shares of Deere & by 7.5% in the first quarter. UBS Asset Management Americas Inc. now owns 829,227 shares of the industrial products company’s stock valued at $90,270,000 after buying an additional 57,640 shares during the period. 67.30% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company (NYSE DE) traded up 0.58% on Tuesday, hitting $129.02. The stock had a trading volume of 1,592,215 shares. The company has a 50-day moving average price of $125.77 and a 200-day moving average price of $115.31. Deere & Company has a 1-year low of $76.73 and a 1-year high of $129.54. The stock has a market capitalization of $41.27 billion, a price-to-earnings ratio of 23.25 and a beta of 0.66.

Deere & (NYSE:DE) last announced its quarterly earnings results on Friday, May 19th. The industrial products company reported $2.49 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.70 by $0.79. Deere & had a return on equity of 24.85% and a net margin of 6.52%. The firm had revenue of $7.26 billion during the quarter, compared to analyst estimates of $7.27 billion. During the same quarter in the previous year, the business earned $1.56 EPS. Deere &’s revenue for the quarter was up 2.2% compared to the same quarter last year. Equities analysts predict that Deere & Company will post $6.31 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 1st. Shareholders of record on Friday, June 30th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Wednesday, June 28th. This represents a $2.40 annualized dividend and a yield of 1.86%. Deere &’s dividend payout ratio (DPR) is currently 43.24%.

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A number of analysts have recently issued reports on DE shares. BidaskClub downgraded shares of Deere & from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Citigroup Inc. lifted their price objective on shares of Deere & from $145.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, June 9th. Barclays PLC set a $100.00 price objective on shares of Deere & and gave the stock a “sell” rating in a research report on Sunday, June 4th. Jefferies Group LLC reaffirmed a “hold” rating and set a $125.00 price objective on shares of Deere & in a research report on Thursday, July 6th. Finally, Credit Suisse Group set a $151.00 price objective on shares of Deere & and gave the stock a “buy” rating in a research report on Saturday, June 3rd. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and twelve have assigned a buy rating to the company’s stock. Deere & presently has an average rating of “Hold” and a consensus price target of $122.24.

In related news, CEO Samuel R. Allen sold 62,704 shares of the company’s stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $125.00, for a total value of $7,838,000.00. Following the transaction, the chief executive officer now directly owns 333,492 shares in the company, valued at $41,686,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Marc A. Howze sold 6,624 shares of the company’s stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $119.59, for a total value of $792,164.16. Following the completion of the transaction, the vice president now owns 9,004 shares in the company, valued at $1,076,788.36. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 105,612 shares of company stock valued at $13,149,023. 0.75% of the stock is owned by company insiders.

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.

Institutional Ownership by Quarter for Deere & (NYSE:DE)

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