Morgan Stanley reduced its stake in shares of Deere & Company (NYSE:DE) by 1.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,379,510 shares of the industrial products company’s stock after selling 19,573 shares during the period. Morgan Stanley owned approximately 0.43% of Deere & worth $150,173,000 as of its most recent filing with the SEC.
Other hedge funds have also added to or reduced their stakes in the company. Quadrature Capital Ltd purchased a new position in shares of Deere & during the fourth quarter worth approximately $26,810,000. RMB Capital Management LLC purchased a new position in shares of Deere & during the fourth quarter worth approximately $341,000. UBS Asset Management Americas Inc. increased its position in shares of Deere & by 5.3% in the fourth quarter. UBS Asset Management Americas Inc. now owns 771,587 shares of the industrial products company’s stock worth $79,503,000 after buying an additional 39,041 shares during the last quarter. USA Financial Portformulas Corp purchased a new position in shares of Deere & during the fourth quarter worth approximately $604,000. Finally, Whalerock Point Partners LLC increased its position in shares of Deere & by 31.4% in the fourth quarter. Whalerock Point Partners LLC now owns 5,650 shares of the industrial products company’s stock worth $582,000 after buying an additional 1,350 shares during the last quarter. Hedge funds and other institutional investors own 67.30% of the company’s stock.
Deere & Company (DE) traded up 0.19% on Friday, hitting $129.75. The company had a trading volume of 1,214,842 shares. The company has a market capitalization of $41.50 billion, a P/E ratio of 23.36 and a beta of 0.67. The stock’s 50-day moving average price is $125.86 and its 200 day moving average price is $115.48. Deere & Company has a one year low of $76.73 and a one year high of $129.95.
Deere & (NYSE:DE) last posted its quarterly earnings results on Friday, May 19th. The industrial products company reported $2.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.70 by $0.79. The business had revenue of $7.26 billion for the quarter, compared to the consensus estimate of $7.27 billion. Deere & had a return on equity of 24.85% and a net margin of 6.52%. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the prior year, the business earned $1.56 EPS. On average, analysts expect that Deere & Company will post $6.31 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Friday, June 30th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date was Wednesday, June 28th. Deere &’s dividend payout ratio is currently 43.24%.
ILLEGAL ACTIVITY NOTICE: This news story was originally published by StockNewsTimes and is the property of of StockNewsTimes. If you are reading this news story on another site, it was illegally copied and republished in violation of United States and international copyright legislation. The correct version of this news story can be viewed at https://stocknewstimes.com/2017/08/06/morgan-stanley-sells-19573-shares-of-deere-company-nysede-updated.html.
A number of research firms have recently weighed in on DE. Deutsche Bank AG upped their price target on shares of Deere & from $122.00 to $135.00 and gave the stock a “hold” rating in a research note on Monday, May 22nd. Credit Suisse Group set a $132.00 target price on shares of Deere & and gave the company a “buy” rating in a report on Wednesday, April 12th. Barclays PLC reiterated a “sell” rating and set a $82.00 price objective (up from $80.00) on shares of Deere & in a report on Tuesday, April 18th. J P Morgan Chase & Co upgraded shares of Deere & to an “underweight” rating and raised their price target for the company from $90.00 to $94.00 in a report on Monday, May 1st. Finally, BidaskClub downgraded shares of Deere & from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 22nd. Three research 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. Deere & has a consensus rating of “Hold” and a consensus target price of $122.24.
In related news, insider Cory J. Reed sold 4,936 shares of the company’s stock in a transaction that occurred on Friday, June 16th. The stock was sold at an average price of $128.00, for a total value of $631,808.00. Following the transaction, the insider now owns 9,903 shares in the company, valued at $1,267,584. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider John C. May II sold 19,907 shares of the stock in a transaction on Tuesday, June 6th. The stock was sold at an average price of $125.57, for a total value of $2,499,721.99. Following the sale, the insider now owns 49,241 shares in the company, valued at approximately $6,183,192.37. The disclosure for this sale can be found here. Insiders have sold a total of 105,612 shares of company stock valued at $13,149,023 over the last three months. 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.
Receive News & Ratings for Deere & Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Deere & Company and related companies with MarketBeat.com's FREE daily email newsletter.
