Robecosam AG lessened its stake in Deere & Company (NYSE:DE) by 2.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 34,868 shares of the industrial products company’s stock after selling 1,027 shares during the period. Robecosam AG’s holdings in Deere & Company were worth $5,747,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in DE. Private Ocean LLC increased its holdings in Deere & Company by 560.0% during the 1st quarter. Private Ocean LLC now owns 198 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 168 shares during the period. Arcus Capital Partners LLC purchased a new position in Deere & Company during the 2nd quarter valued at about $33,000. Orrstown Financial Services Inc. increased its holdings in Deere & Company by 116.0% during the 2nd quarter. Orrstown Financial Services Inc. now owns 216 shares of the industrial products company’s stock valued at $36,000 after purchasing an additional 116 shares during the period. Field & Main Bank purchased a new position in Deere & Company during the 1st quarter valued at about $40,000. Finally, Nelson Roberts Investment Advisors LLC increased its holdings in Deere & Company by 34.8% during the 2nd quarter. Nelson Roberts Investment Advisors LLC now owns 271 shares of the industrial products company’s stock valued at $45,000 after purchasing an additional 70 shares during the period. 67.85% of the stock is owned by institutional investors.
A number of research analysts recently issued reports on DE shares. BMO Capital Markets restated an “outperform” rating and set a $175.00 price target (down previously from $195.00) on shares of Deere & Company in a report on Monday, May 27th. Macquarie set a $132.00 target price on Deere & Company and gave the stock a “hold” rating in a report on Monday, May 20th. JPMorgan Chase & Co. downgraded Deere & Company from a “neutral” rating to an “underweight” rating and reduced their target price for the stock from $154.00 to $132.00 in a report on Tuesday, May 14th. Deutsche Bank reduced their target price on Deere & Company from $159.00 to $148.00 and set a “hold” rating on the stock in a report on Monday, May 20th. Finally, Zacks Investment Research downgraded Deere & Company from a “hold” rating to a “sell” rating in a report on Wednesday, April 17th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and thirteen have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $167.22.
In related news, COO John C. May II sold 5,228 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $170.00, for a total value of $888,760.00. Following the sale, the chief operating officer now owns 49,310 shares in the company, valued at approximately $8,382,700. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO John C. May II sold 16,468 shares of the company’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $163.21, for a total value of $2,687,742.28. Following the completion of the sale, the chief operating officer now owns 60,550 shares in the company, valued at approximately $9,882,365.50. The disclosure for this sale can be found here. Corporate insiders own 0.71% of the company’s stock.
Shares of Deere & Company stock traded up $1.30 during midday trading on Tuesday, hitting $148.35. The company had a trading volume of 134,947 shares, compared to its average volume of 1,819,751. The company has a quick ratio of 1.66, a current ratio of 1.94 and a debt-to-equity ratio of 2.37. The firm has a market cap of $46.61 billion, a PE ratio of 15.81, a P/E/G ratio of 1.91 and a beta of 1.10. The firm has a 50 day moving average price of $163.02. Deere & Company has a 52-week low of $128.32 and a 52-week high of $171.22.
Deere & Company (NYSE:DE) last posted its quarterly earnings results on Friday, May 17th. The industrial products company reported $3.52 earnings per share for the quarter, missing the consensus estimate of $3.57 by ($0.05). The company had revenue of $10.27 billion during the quarter, compared to analysts’ expectations of $10.19 billion. Deere & Company had a return on equity of 28.76% and a net margin of 8.52%. The business’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.14 EPS. As a group, equities analysts expect that Deere & Company will post 10.22 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Friday, June 28th were paid a $0.76 dividend. The ex-dividend date was Thursday, June 27th. This represents a $3.04 annualized dividend and a dividend yield of 2.05%. Deere & Company’s payout ratio is currently 32.37%.
About Deere & Company
Deere & Company manufactures and distributes various equipment worldwide. The company operates through three segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment offers agriculture and turf equipment, and related parts, including large, medium, and utility tractors; tractor loaders; combines, cotton pickers, cotton strippers, and sugarcane harvesters; harvesting front-end equipment; sugarcane loaders and pull-behind scrapers; and tillage, seeding, and application equipment.
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