Cambridge Investment Research Advisors Inc. increased its stake in shares of Deere & Company (NYSE:DE) by 20.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 39,186 shares of the industrial products company’s stock after buying an additional 6,650 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Deere & were worth $4,266,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. PGGM Investments acquired a new stake in Deere & during the first quarter valued at approximately $26,179,000. Nordea Investment Management AB increased its stake in Deere & by 1.1% in the first quarter. Nordea Investment Management AB now owns 124,936 shares of the industrial products company’s stock valued at $13,601,000 after buying an additional 1,342 shares in the last quarter. Toronto Dominion Bank increased its stake in Deere & by 54.1% in the first quarter. Toronto Dominion Bank now owns 81,301 shares of the industrial products company’s stock valued at $8,850,000 after buying an additional 28,536 shares in the last quarter. Clinton Group Inc. purchased a new stake in Deere & during the first quarter valued at about $1,088,000. Finally, Burney Co. increased its stake in Deere & by 1.8% in the first quarter. Burney Co. now owns 191,616 shares of the industrial products company’s stock valued at $20,859,000 after buying an additional 3,348 shares in the last quarter. Hedge funds and other institutional investors own 67.33% of the company’s stock.
Deere & Company (DE) opened at 125.75 on Monday. The firm has a market cap of $40.22 billion, a PE ratio of 22.64 and a beta of 0.66. Deere & Company has a 52 week low of $76.73 and a 52 week high of $129.00. The stock has a 50 day moving average of $125.31 and a 200-day moving average of $114.11.
Deere & (NYSE:DE) last posted its quarterly earnings data on Friday, May 19th. The industrial products company reported $2.49 earnings per share 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 analysts’ expectations of $7.27 billion. During the same quarter in the prior year, the business posted $1.56 earnings per share. Deere &’s revenue was up 2.2% compared to the same quarter last year. Analysts expect that Deere & Company will post $6.30 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 1st. Investors of record on Friday, June 30th will be given 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 1.91%. Deere &’s dividend payout ratio is 43.24%.
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Several research firms recently issued reports on DE. UBS AG reaffirmed a “neutral” rating and set a $122.00 price objective (up from $112.00) on shares of Deere & in a report on Monday, May 22nd. Credit Suisse Group set a $132.00 price objective on shares of Deere & and gave the stock a “buy” rating in a report on Saturday, May 20th. Bank of America Corporation upped their price objective on shares of Deere & from $130.00 to $145.00 and gave the stock a “buy” rating in a report on Wednesday, May 24th. Barclays PLC set a $100.00 price objective on shares of Deere & and gave the stock a “sell” rating in a report on Sunday, June 4th. Finally, J P Morgan Chase & Co raised shares of Deere & to an “underweight” rating and upped their price objective for the stock from $90.00 to $94.00 in a report on Monday, May 1st. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $122.24.
In other Deere & news, insider Cory J. Reed sold 5,840 shares of the business’s stock in a transaction dated Friday, May 19th. The stock was sold at an average price of $119.59, for a total transaction of $698,405.60. Following the completion of the transaction, the insider now owns 10,807 shares of the company’s stock, valued at $1,292,409.13. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Samuel R. Allen sold 62,704 shares of the business’s stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $125.00, for a total value of $7,838,000.00. Following the transaction, the chief executive officer now directly owns 333,492 shares of the company’s stock, valued at approximately $41,686,500. The disclosure for this sale can be found here. Insiders have sold 105,612 shares of company stock valued at $13,149,023 in the last ninety days. 0.75% of the stock is currently owned by company 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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