South Dakota Investment Council lowered its position 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 firm 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 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. SG Americas Securities LLC increased its position in shares of 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 during the period. First Eagle Investment Management LLC increased 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 valued at $724,205,000 after buying an additional 322,158 shares during the last quarter. Quadrature Capital Ltd purchased a new position in Deere & during the fourth quarter valued at $26,810,000. PGGM Investments purchased a new position in Deere & during the first quarter valued at $26,179,000. Finally, Prudential Financial Inc. increased 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 valued at $67,932,000 after buying an additional 210,925 shares during the last quarter. 67.91% of the stock is currently owned by institutional investors.
Deere & Company (DE) traded up 1.48% during midday trading on Monday, hitting $128.57. The company had a trading volume of 2,142,449 shares. Deere & Company has a 52 week low of $76.73 and a 52 week high of $132.50. The company has a market capitalization of $41.12 billion, a P/E ratio of 23.14 and a beta of 0.67. The stock has a 50 day moving average price of $126.67 and a 200 day moving average price of $116.64.
Deere & (NYSE:DE) last posted 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. Deere & had a return on equity of 24.85% and a net margin of 6.52%. The business had revenue of $7.26 billion for the quarter, compared to analyst estimates of $7.27 billion. During the same quarter in the prior year, the company earned $1.56 earnings per share. The company’s revenue was up 2.2% on a year-over-year basis. Equities analysts forecast that Deere & Company will post $6.38 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 1st. Stockholders of record on Friday, June 30th were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date of this dividend was Wednesday, June 28th. Deere &’s dividend payout ratio is currently 43.24%.
ILLEGAL ACTIVITY NOTICE: This piece was first posted by StockNewsTimes and is the property of of StockNewsTimes. If you are accessing this piece on another website, it was illegally stolen and republished in violation of international trademark & copyright laws. The legal version of this piece can be viewed at https://stocknewstimes.com/2017/08/14/south-dakota-investment-council-has-11-40-million-position-in-deere-company-de-updated-updated-updated.html.
Several research analysts have recently weighed in on the company. Credit Suisse Group set a $132.00 price target on Deere & and gave the stock a “buy” rating in a research note on Saturday, May 20th. BidaskClub downgraded Deere & from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Barclays PLC restated a “sell” rating and issued a $82.00 target price (up previously from $80.00) on shares of Deere & in a research note on Tuesday, April 18th. Stifel Nicolaus raised their target price on Deere & from $126.00 to $135.00 and gave the stock a “buy” rating in a research note on Monday, May 22nd. Finally, J P Morgan Chase & Co raised Deere & from an “underweight” rating to a “neutral” rating and raised their price target for the company from $103.00 to $122.00 in a report on Friday, June 2nd. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and thirteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $122.79.
In related news, CEO Samuel R. Allen sold 62,704 shares of the business’s stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $125.00, for a total transaction of $7,838,000.00. Following the completion of the transaction, the chief executive officer now owns 333,492 shares in the company, valued at $41,686,500. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider John C. May II sold 19,907 shares of the business’s stock in a transaction on Tuesday, June 6th. The stock was sold at an average price of $125.57, for a total transaction of $2,499,721.99. Following the transaction, the insider now owns 49,241 shares of the company’s stock, valued at approximately $6,183,192.37. The disclosure for this sale can be found here. Insiders have sold 130,988 shares of company stock worth $16,451,037 in the last ninety days. Corporate insiders own 0.75% of the company’s stock.
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.
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.
