Massachusetts Financial Services Co. MA raised its position in Deere & Company (NYSE:DE) by 2.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 569,036 shares of the industrial products company’s stock after buying an additional 11,747 shares during the period. Massachusetts Financial Services Co. MA owned about 0.18% of Deere & worth $61,945,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of DE. Ledyard National Bank raised its position 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 during the period. MCF Advisors LLC raised its position 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 during the period. Endurance Wealth Management Inc. raised its position 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 during the period. Heritage Trust Co acquired a new position in shares of Deere & during the first quarter worth approximately $185,000. Finally, Oakworth Capital Inc. raised its position 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 during the period. Institutional investors own 67.35% of the company’s stock.
Shares of Deere & Company (DE) traded down 0.33% during trading on Wednesday, hitting $131.59. The stock had a trading volume of 171,928 shares. The stock has a market capitalization of $42.09 billion, a price-to-earnings ratio of 23.69 and a beta of 0.67. Deere & Company has a one year low of $76.73 and a one year high of $132.22. The stock has a 50 day moving average price of $126.12 and a 200-day moving average price of $115.78. Deere & also was the target of unusually large options trading on Monday. Stock investors acquired 731 call options on the company. This represents an increase of approximately 255% compared to the typical daily volume of 206 call options.
Deere & (NYSE:DE) last issued its quarterly earnings data 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 analyst estimates of $7.27 billion. Deere & had a return on equity of 24.85% and a net margin of 6.52%. Deere &’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.56 EPS. On average, equities research analysts predict that Deere & Company will post $6.37 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 1st. Investors of record on Friday, June 30th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Wednesday, June 28th. This represents a $2.40 dividend on an annualized basis and a yield of 1.82%. Deere &’s dividend payout ratio is currently 43.24%.
A number of research analysts have recently commented on DE shares. TheStreet upgraded Deere & from a “c+” rating to an “a-” rating in a report on Friday, May 19th. Citigroup Inc. upped their price target on Deere & from $125.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, May 23rd. Credit Suisse Group set a $132.00 price objective on Deere & and gave the company a “buy” rating in a research report on Saturday, May 20th. BMO Capital Markets restated a “buy” rating and set a $128.00 price objective on shares of Deere & in a research report on Thursday, April 20th. Finally, Stifel Nicolaus boosted their price objective on Deere & from $126.00 to $135.00 and gave the company a “buy” rating in a research report on Monday, May 22nd. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating and thirteen have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $122.60.
In other Deere & news, insider Jean H. Gilles sold 8,015 shares of the company’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $129.99, for a total value of $1,041,869.85. Following the sale, the insider now owns 70,635 shares in the company, valued at approximately $9,181,843.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Samuel R. Allen sold 62,704 shares of the company’s stock in a transaction dated 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 owns 333,492 shares in the company, valued at approximately $41,686,500. The disclosure for this sale can be found here. Insiders sold a total of 125,988 shares of company stock worth $15,796,587 in the last quarter. Corporate insiders own 0.75% 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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