United Services Automobile Association reduced its stake in Deere & Company (NYSE:DE) by 8.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 514,721 shares of the industrial products company’s stock after selling 49,322 shares during the period. United Services Automobile Association owned 0.16% of Deere & worth $56,033,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also modified their holdings of the company. First Eagle Investment Management LLC increased 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 worth $724,205,000 after buying an additional 322,158 shares during the last quarter. Thomaspartners Inc. increased its position 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 in the last quarter. Los Angeles Capital Management & Equity Research Inc. increased its position 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 in the last quarter. Swiss National Bank increased its position 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 in the last quarter. Finally, UBS Asset Management Americas Inc. increased its position 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 in the last quarter. 67.33% of the stock is owned by institutional investors.
Shares of Deere & Company (NYSE:DE) traded up 0.37% during midday trading on Friday, reaching $128.91. The company’s stock had a trading volume of 1,261,212 shares. Deere & Company has a 12 month low of $76.73 and a 12 month high of $129.02. The stock’s 50-day moving average is $125.71 and its 200 day moving average is $115.00. The stock has a market capitalization of $41.23 billion, a P/E ratio of 23.21 and a beta of 0.66.
Deere & (NYSE:DE) last posted 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 business had revenue of $7.26 billion for the quarter, compared to analyst estimates of $7.27 billion. Deere & had a return on equity of 24.85% and a net margin of 6.52%. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.56 earnings per share. On average, analysts expect that Deere & Company will post $6.31 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 1st. Investors of record on Friday, June 30th will be paid a dividend of $0.60 per share. The ex-dividend date is Wednesday, June 28th. This represents a $2.40 annualized dividend and a yield of 1.86%. Deere &’s dividend payout ratio is 43.24%.
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Several brokerages recently weighed in on DE. BidaskClub cut shares of Deere & from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Citigroup Inc. boosted their price objective on shares of Deere & from $145.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, June 9th. Barclays PLC set a $100.00 price target on shares of Deere & and gave the company a “sell” rating in a research report on Sunday, June 4th. Jefferies Group LLC reissued a “hold” rating and set a $125.00 price target 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 company a “buy” rating in a report on Saturday, June 3rd. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating and twelve have given a buy rating to the company’s stock. Deere & presently has a consensus rating of “Hold” and a consensus target price of $122.24.
In other news, insider Cory J. Reed sold 5,840 shares of the company’s stock in a transaction that occurred on Friday, May 19th. The stock was sold at an average price of $119.59, for a total value of $698,405.60. Following the sale, the insider now directly owns 10,807 shares in the company, valued at approximately $1,292,409.13. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 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 sale, 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. Insiders have sold 105,612 shares of company stock worth $13,149,023 over the last 90 days. Corporate insiders own 0.85% of the company’s stock.
Deere & Company Profile
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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