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 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 institutional investors have also bought and sold shares of the company. Kistler Tiffany Companies LLC increased its position in Deere & by 0.4% in the first quarter. Kistler Tiffany Companies LLC now owns 2,023 shares of the industrial products company’s stock valued at $220,000 after buying an additional 8 shares during the period. Nadler Financial Group Inc. increased its position in shares of Deere & by 0.4% in the first quarter. Nadler Financial Group Inc. now owns 2,694 shares of the industrial products company’s stock worth $293,000 after buying an additional 10 shares during the last quarter. Stock Yards Bank & Trust Co. increased its position in shares of Deere & by 0.4% in the first quarter. Stock Yards Bank & Trust Co. now owns 6,958 shares of the industrial products company’s stock worth $757,000 after buying an additional 25 shares during the last quarter. Legacy Capital Partners Inc. increased its position in shares of Deere & by 0.4% in the first quarter. Legacy Capital Partners Inc. now owns 6,620 shares of the industrial products company’s stock worth $721,000 after buying an additional 25 shares during the last quarter. Finally, Endurance Wealth Management Inc. increased 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 last quarter. Institutional investors and hedge funds own 67.35% of the company’s stock.
Deere & Company (NYSE:DE) traded up 0.16% on Monday, reaching $129.96. 1,535,249 shares of the company traded hands. The company has a 50-day moving average price of $125.86 and a 200-day moving average price of $115.48. The company has a market capitalization of $41.57 billion, a P/E ratio of 23.40 and a beta of 0.67. Deere & Company has a 12 month low of $76.73 and a 12 month high of $130.50.
Deere & (NYSE:DE) last posted its quarterly earnings results on Friday, May 19th. The industrial products company reported $2.49 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.70 by $0.79. The business had revenue of $7.26 billion during the quarter, compared to analyst estimates of $7.27 billion. Deere & had a net margin of 6.52% and a return on equity of 24.85%. The company’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.56 EPS. Equities research analysts expect that Deere & Company will post $6.31 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 1st. Investors of record on Friday, June 30th were given a $0.60 dividend. The ex-dividend date of this dividend was Wednesday, June 28th. This represents a $2.40 annualized dividend and a yield of 1.85%. Deere &’s dividend payout ratio is presently 43.24%.
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A number of equities analysts recently commented on the stock. UBS AG reiterated a “neutral” rating and set 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 stock 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 stock a “sell” rating in a research note on Sunday, June 4th. BidaskClub downgraded shares of Deere & from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Finally, BMO Capital Markets reiterated a “buy” rating and set a $128.00 target price on shares of Deere & in a research note on Thursday, April 20th. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Deere & currently has a consensus rating of “Hold” and a consensus price target of $122.60.
In related news, CEO Samuel R. Allen sold 62,704 shares of Deere & stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $125.00, for a total value of $7,838,000.00. Following the sale, the chief executive officer now directly owns 333,492 shares in the company, valued at approximately $41,686,500. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Cory J. Reed sold 4,936 shares of Deere & stock in a transaction dated Friday, June 16th. The shares were sold at an average price of $128.00, for a total transaction of $631,808.00. Following the completion of the sale, the insider now owns 9,903 shares in the company, valued at $1,267,584. The disclosure for this sale can be found here. Over the last quarter, insiders sold 117,973 shares of company stock worth $14,754,717. 0.75% of the stock is currently owned by insiders.
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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