Cambridge Investment Research Advisors Inc. increased its position in shares of Deere & Company (NYSE:DE) by 20.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm 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 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in Deere & by 8.2% in the first quarter. Vanguard Group Inc. now owns 20,440,278 shares of the industrial products company’s stock worth $2,225,128,000 after buying an additional 1,541,004 shares during the last quarter. First Eagle Investment Management LLC increased its stake in Deere & by 5.1% in the first quarter. First Eagle Investment Management LLC now owns 6,652,623 shares of the industrial products company’s stock worth $724,205,000 after buying an additional 322,158 shares during the last quarter. Loomis Sayles & Co. L P increased its stake in Deere & by 0.5% in the first quarter. Loomis Sayles & Co. L P now owns 5,860,666 shares of the industrial products company’s stock worth $637,992,000 after buying an additional 26,303 shares during the last quarter. Primecap Management Co. CA increased its stake in Deere & by 2.8% in the first quarter. Primecap Management Co. CA now owns 5,518,919 shares of the industrial products company’s stock worth $600,790,000 after buying an additional 151,200 shares during the last quarter. Finally, Thomaspartners Inc. increased its stake in Deere & by 5.9% in the first quarter. Thomaspartners Inc. now owns 1,770,719 shares of the industrial products company’s stock worth $192,760,000 after buying an additional 99,426 shares during the last quarter. Institutional investors and hedge funds own 67.30% of the company’s stock.
Deere & Company (NYSE:DE) opened at 128.98 on Thursday. The firm has a 50-day moving average of $125.86 and a 200 day moving average of $115.48. Deere & Company has a one year low of $76.73 and a one year high of $129.54. The company has a market capitalization of $41.26 billion, a P/E ratio of 23.22 and a beta of 0.67.
Deere & (NYSE:DE) last announced its earnings results on Friday, May 19th. The industrial products company reported $2.49 EPS for the quarter, beating the Zacks’ 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 period in the prior year, the company earned $1.56 earnings per share. The firm’s revenue was up 2.2% on a year-over-year basis. On average, equities analysts forecast that Deere & Company will post $6.31 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 1st. Stockholders of record on Friday, June 30th were paid a $0.60 dividend. The ex-dividend date of this dividend was Wednesday, June 28th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.86%. Deere &’s dividend payout ratio (DPR) is presently 43.24%.
A number of brokerages have commented on DE. UBS AG reaffirmed a “neutral” rating and set a $122.00 price target (up previously from $112.00) on shares of Deere & in a research report on Monday, May 22nd. Credit Suisse Group set a $132.00 price target on shares of Deere & and gave the company a “buy” rating in a research report on Saturday, May 20th. Bank of America Corporation increased their price objective on shares of Deere & from $130.00 to $145.00 and gave the stock a “buy” rating in a research 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 research report on Sunday, June 4th. Finally, J P Morgan Chase & Co raised shares of Deere & to an “underweight” rating and increased their price objective for the stock from $90.00 to $94.00 in a research report on Monday, May 1st. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating and twelve have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $122.24.
In other news, CEO Samuel R. Allen sold 62,704 shares of the stock in a transaction on 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 completion of the sale, the chief executive officer now directly owns 333,492 shares of the company’s stock, valued at $41,686,500. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Cory J. Reed sold 4,936 shares of the company’s stock in a transaction on Friday, June 16th. The stock was sold at an average price of $128.00, for a total transaction of $631,808.00. Following the transaction, the insider now owns 9,903 shares of the company’s stock, valued at approximately $1,267,584. The disclosure for this sale can be found here. Over the last three months, insiders sold 105,612 shares of company stock valued at $13,149,023. Corporate insiders own 0.85% of the company’s stock.
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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