Carroll Financial Associates Inc. lowered its stake in shares of Deere & Company (NYSE:DE) by 1.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,802 shares of the industrial products company’s stock after selling 33 shares during the period. Carroll Financial Associates Inc.’s holdings in Deere & were worth $222,000 as of its most recent filing with the SEC.
Several other hedge funds have also modified their holdings of DE. Louisiana State Employees Retirement System raised its position in shares of Deere & by 1.7% in the second quarter. Louisiana State Employees Retirement System now owns 18,300 shares of the industrial products company’s stock valued at $2,262,000 after buying an additional 300 shares during the period. PGGM Investments purchased a new position in shares of Deere & during the first quarter valued at about $26,179,000. Dai Ichi Life Insurance Company Ltd raised its position in shares of Deere & by 42.1% in the first quarter. Dai Ichi Life Insurance Company Ltd now owns 21,438 shares of the industrial products company’s stock valued at $2,334,000 after buying an additional 6,353 shares during the period. Ngam Advisors L.P. raised its position in shares of Deere & by 20.8% in the first quarter. Ngam Advisors L.P. now owns 427,136 shares of the industrial products company’s stock valued at $46,498,000 after buying an additional 73,484 shares during the period. Finally, Nordea Investment Management AB raised its position in shares of 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 during the period. Institutional investors own 67.35% of the company’s stock.
Shares of Deere & Company (NYSE:DE) traded down 0.85% during midday trading on Friday, hitting $126.70. 2,305,693 shares of the stock were exchanged. Deere & Company has a 1-year low of $76.73 and a 1-year high of $132.50. The stock has a market capitalization of $40.53 billion, a price-to-earnings ratio of 22.81 and a beta of 0.67. The firm’s 50 day moving average is $126.67 and its 200-day moving average is $116.64.
Deere & (NYSE:DE) last released its quarterly earnings results on Friday, May 19th. The industrial products company reported $2.49 earnings per share for the quarter, topping the 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 for the quarter, compared to analysts’ expectations of $7.27 billion. During the same period in the previous year, the company earned $1.56 earnings per share. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. On average, analysts predict that Deere & Company will post $6.37 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Investors of record on Friday, June 30th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 1.89%. The ex-dividend date of this dividend was Wednesday, June 28th. Deere &’s dividend payout ratio (DPR) is presently 43.24%.
Several equities analysts have recently issued reports on DE shares. TheStreet raised shares of Deere & from a “c+” rating to an “a-” rating in a report on Friday, May 19th. Credit Suisse Group set a $132.00 price target on shares of Deere & and gave the company a “buy” rating in a report on Saturday, May 20th. BMO Capital Markets reissued a “buy” rating and issued a $128.00 price target on shares of Deere & in a report on Thursday, April 20th. Stifel Nicolaus boosted their price target on shares of Deere & from $126.00 to $135.00 and gave the company a “buy” rating in a report on Monday, May 22nd. Finally, Citigroup Inc. boosted their price target on shares of Deere & from $125.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday, May 23rd. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and thirteen have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $122.79.
In other Deere & news, insider Max A. Guinn sold 5,000 shares of Deere & stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $130.89, for a total value of $654,450.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Samuel R. Allen sold 62,704 shares of Deere & stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $125.00, for a total transaction of $7,838,000.00. Following the completion of the sale, the chief executive officer now directly owns 333,492 shares in the company, valued at approximately $41,686,500. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 130,988 shares of company stock worth $16,451,037. 0.85% of the stock is owned by corporate insiders.
About Deere &
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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