South Dakota Investment Council Sells 84,580 Shares of Deere & Company (DE)

South Dakota Investment Council decreased its stake in Deere & Company (NYSE:DE) by 44.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 104,720 shares of the industrial products company’s stock after selling 84,580 shares during the period. South Dakota Investment Council’s holdings in Deere & were worth $11,400,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the company. SG Americas Securities LLC raised its position in Deere & by 107.6% in the first quarter. SG Americas Securities LLC now owns 44,868 shares of the industrial products company’s stock worth $4,884,000 after buying an additional 631,378 shares in the last quarter. First Eagle Investment Management LLC raised its position 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 in the last quarter. Quadrature Capital Ltd acquired a new position in Deere & during the fourth quarter worth approximately $26,810,000. PGGM Investments acquired a new position in Deere & during the first quarter worth approximately $26,179,000. Finally, Prudential Financial Inc. raised its position in Deere & by 51.1% in the first quarter. Prudential Financial Inc. now owns 624,030 shares of the industrial products company’s stock worth $67,932,000 after buying an additional 210,925 shares in the last quarter. Hedge funds and other institutional investors own 67.35% of the company’s stock.

Deere & Company (NYSE:DE) opened at 129.75 on Monday. Deere & Company has a 12 month low of $76.73 and a 12 month high of $129.95. The company’s 50-day moving average is $125.86 and its 200 day moving average is $115.48. The firm has a market cap of $41.50 billion, a price-to-earnings ratio of 23.36 and a beta of 0.67.

Deere & (NYSE:DE) last released its quarterly earnings data on Friday, May 19th. The industrial products company reported $2.49 EPS for the quarter, beating the consensus estimate of $1.70 by $0.79. The company had revenue of $7.26 billion during 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% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.56 EPS. On average, equities research analysts predict that Deere & Company will post $6.31 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Investors of record on Friday, June 30th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date of this dividend was Wednesday, June 28th. Deere &’s dividend payout ratio (DPR) is presently 43.24%.

A number of research analysts have recently issued reports on DE shares. Stifel Nicolaus started coverage on shares of Deere & in a research note on Monday, April 10th. They set a “buy” rating and a $126.00 price target on the stock. Credit Suisse Group set a $132.00 price target on shares of Deere & and gave the stock a “buy” rating in a research note on Wednesday, April 12th. Barclays PLC reiterated a “sell” rating and set a $82.00 price target (up from $80.00) on shares of Deere & in a research note on Tuesday, April 18th. BMO Capital Markets reissued a “buy” rating and set a $128.00 price objective on shares of Deere & in a report on Thursday, April 20th. Finally, J P Morgan Chase & Co raised shares of Deere & to an “underweight” rating and boosted their price objective for the stock from $90.00 to $94.00 in a report on Monday, May 1st. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and twelve have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $122.24.

In related news, VP Marc A. Howze sold 6,624 shares of the stock in a transaction on Friday, May 19th. The stock was sold at an average price of $119.59, for a total value of $792,164.16. Following the sale, the vice president now owns 9,004 shares in the company, valued at approximately $1,076,788.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Samuel R. Allen sold 62,704 shares of the stock in a transaction on 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 owns 333,492 shares in the company, valued at approximately $41,686,500. The disclosure for this sale can be found here. In the last 90 days, insiders sold 105,612 shares of company stock worth $13,149,023. 0.75% of the stock is 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.