Loomis Sayles & Co. L P raised its stake in shares of Deere & Company (NYSE:DE) by 0.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,860,666 shares of the industrial products company’s stock after buying an additional 26,303 shares during the period. Deere & accounts for about 1.6% of Loomis Sayles & Co. L P’s holdings, making the stock its 21st largest position. Loomis Sayles & Co. L P owned 1.84% of Deere & worth $637,992,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of the stock. Ledyard National Bank raised its stake in shares of Deere & by 5.0% in the first quarter. Ledyard National Bank now owns 1,050 shares of the industrial products company’s stock worth $114,000 after buying an additional 50 shares in the last quarter. MCF Advisors LLC raised its stake in shares of Deere & by 26.2% in the first quarter. MCF Advisors LLC now owns 1,160 shares of the industrial products company’s stock worth $126,000 after buying an additional 241 shares in the last quarter. Endurance Wealth Management Inc. raised its stake 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 in the last quarter. Heritage Trust Co purchased a new stake in shares of Deere & during the first quarter worth $185,000. Finally, Oakworth Capital Inc. raised its stake in shares of Deere & by 29.1% in the first quarter. Oakworth Capital Inc. now owns 1,775 shares of the industrial products company’s stock worth $193,000 after buying an additional 400 shares in the last quarter. Institutional investors own 67.31% of the company’s stock.
Deere & Company (NYSE:DE) opened at 125.75 on Friday. Deere & Company has a 1-year low of $76.73 and a 1-year high of $129.00. The company’s 50-day moving average price is $125.31 and its 200-day moving average price is $114.11. The firm has a market capitalization of $40.22 billion, a P/E ratio of 22.64 and a beta of 0.66.
Deere & (NYSE:DE) last issued its quarterly earnings data on Friday, May 19th. The industrial products company reported $2.49 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.70 by $0.79. Deere & had a net margin of 6.52% and a return on equity of 24.85%. The business had revenue of $7.26 billion during the quarter, compared to analyst estimates of $7.27 billion. During the same period last year, the business posted $1.56 earnings per share. Deere &’s quarterly revenue was up 2.2% compared to the same quarter last year. Equities research analysts expect that Deere & Company will post $6.30 earnings per share for the current fiscal year.
The business 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 $0.60 dividend. The ex-dividend date is Wednesday, June 28th. This represents a $2.40 annualized dividend and a yield of 1.91%. Deere &’s dividend payout ratio (DPR) is presently 43.24%.
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DE has been the topic of a number of research reports. BidaskClub lowered Deere & from a “buy” rating to a “hold” rating in a research report on Wednesday, June 28th. Barclays PLC boosted their price objective on Deere & from $82.00 to $90.00 and gave the stock a “sell” rating in a research report on Monday, May 22nd. Credit Suisse Group set a $132.00 price objective on Deere & and gave the stock a “buy” rating in a research report on Wednesday, April 12th. BMO Capital Markets boosted their price objective on Deere & from $128.00 to $140.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 30th. Finally, Stifel Nicolaus initiated coverage on Deere & in a research report on Monday, April 10th. They set a “buy” rating and a $126.00 price objective on the stock. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Deere & has an average rating of “Hold” and an average target price of $122.24.
In other news, insider Cory J. Reed sold 4,936 shares of Deere & stock in a transaction that occurred on 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 transaction, the insider now directly owns 9,903 shares in the company, valued at $1,267,584. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Cory J. Reed sold 5,840 shares of Deere & stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $119.59, for a total transaction of $698,405.60. Following the transaction, the insider now owns 10,807 shares of the company’s stock, valued at $1,292,409.13. The disclosure for this sale can be found here. Insiders have sold 105,612 shares of company stock valued at $13,149,023 over the last quarter. Company 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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