United Services Automobile Association decreased its position in Deere & Company (NYSE:DE) by 8.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. 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 about 0.16% of Deere & worth $56,033,000 at the end of the most recent reporting period.
Several other large investors have also bought and sold shares of DE. Thrivent Financial for Lutherans increased its stake in shares of Deere & by 5.6% in the fourth quarter. Thrivent Financial for Lutherans now owns 10,120 shares of the industrial products company’s stock valued at $1,043,000 after buying an additional 540 shares during the last quarter. Vident Investment Advisory LLC increased its stake in shares of Deere & by 6.2% in the fourth quarter. Vident Investment Advisory LLC now owns 12,901 shares of the industrial products company’s stock valued at $1,329,000 after buying an additional 753 shares during the last quarter. Dodge & Cox purchased a new stake in shares of Deere & during the fourth quarter valued at approximately $2,678,000. Quadrature Capital Ltd purchased a new stake in shares of Deere & during the fourth quarter valued at approximately $26,810,000. Finally, RMB Capital Management LLC purchased a new stake in shares of Deere & during the fourth quarter valued at approximately $341,000. 67.31% of the stock is owned by institutional investors and hedge funds.
Shares of Deere & Company (DE) opened at 125.75 on Friday. The firm has a 50-day moving average of $125.31 and a 200-day moving average of $114.11. Deere & Company has a 52 week low of $76.73 and a 52 week 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.
Deere & (NYSE:DE) last posted its quarterly earnings data on Friday, May 19th. The industrial products company reported $2.49 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.70 by $0.79. The firm had revenue of $7.26 billion for the quarter, compared to the consensus estimate of $7.27 billion. Deere & had a net margin of 6.52% and a return on equity of 24.85%. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.56 EPS. On average, analysts expect that Deere & Company will post $6.30 EPS 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 issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date is Wednesday, June 28th. Deere &’s dividend payout ratio is 43.24%.
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Several equities research analysts have commented on the stock. UBS AG reaffirmed a “neutral” rating and issued a $122.00 target price (up previously from $112.00) on shares of Deere & in a research note on Monday, May 22nd. Credit Suisse Group set a $132.00 target price on shares of Deere & and gave the company a “buy” rating in a research note on Saturday, May 20th. Barclays PLC set a $100.00 target price on shares of Deere & and gave the company a “sell” rating in a research note on Sunday, June 4th. BidaskClub raised shares of Deere & from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. Finally, BMO Capital Markets reissued a “buy” rating and set a $128.00 price objective on shares of Deere & in a research report on Thursday, April 20th. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $122.24.
In related news, VP Marc A. Howze sold 6,624 shares of the business’s stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $119.59, for a total value of $792,164.16. Following the transaction, the vice president now directly owns 9,004 shares of the company’s stock, valued at approximately $1,076,788.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Cory J. Reed sold 4,936 shares of the business’s stock in a transaction dated Friday, June 16th. The stock was sold at an average price of $128.00, for a total transaction of $631,808.00. Following the completion of the transaction, the insider now directly owns 9,903 shares in the company, valued at $1,267,584. The disclosure for this sale can be found here. Insiders have sold a total of 105,612 shares of company stock worth $13,149,023 over the last ninety days. 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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