Gamco Investors INC. ET AL decreased its holdings in shares of John Deere (NYSE:DE) by 7.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 570,968 shares of the industrial products company’s stock after selling 44,488 shares during the quarter. Gamco Investors INC. ET AL owned approximately 0.18% of John Deere worth $88,683,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of DE. BlackRock Inc. increased its position in John Deere by 5.5% during the first quarter. BlackRock Inc. now owns 18,857,199 shares of the industrial products company’s stock worth $2,928,897,000 after buying an additional 978,907 shares during the period. Two Sigma Advisers LP increased its position in John Deere by 1,140.3% during the fourth quarter. Two Sigma Advisers LP now owns 987,462 shares of the industrial products company’s stock worth $154,548,000 after buying an additional 907,849 shares during the period. Findlay Park Partners LLP acquired a new position in John Deere during the first quarter worth approximately $113,317,000. SG Americas Securities LLC increased its position in John Deere by 123.5% during the fourth quarter. SG Americas Securities LLC now owns 67,909 shares of the industrial products company’s stock worth $10,628,000 after buying an additional 357,198 shares during the period. Finally, Amundi Pioneer Asset Management Inc. acquired a new position in John Deere during the fourth quarter worth approximately $48,800,000. Hedge funds and other institutional investors own 66.14% of the company’s stock.
Several research analysts have commented on the company. Zacks Investment Research lowered John Deere from a “buy” rating to a “hold” rating in a research report on Monday, February 19th. TheStreet lowered John Deere from a “b+” rating to a “c+” rating in a research report on Friday, February 16th. Credit Suisse Group reaffirmed an “outperform” rating and set a $231.00 price target (up previously from $198.00) on shares of John Deere in a research report on Tuesday, February 20th. Bank of America raised John Deere from a “neutral” rating to a “buy” rating and set a $159.00 price target on the stock in a research report on Thursday, May 3rd. Finally, Robert W. Baird reaffirmed a “buy” rating and set a $173.00 price target on shares of John Deere in a research report on Friday, April 13th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and sixteen have issued a buy rating to the stock. John Deere has a consensus rating of “Buy” and a consensus target price of $175.17.
John Deere (NYSE:DE) last announced its quarterly earnings data on Friday, May 18th. The industrial products company reported $3.14 earnings per share for the quarter, missing the Zacks’ consensus estimate of $3.33 by ($0.19). John Deere had a return on equity of 27.67% and a net margin of 5.46%. The business had revenue of $9.75 billion for the quarter, compared to analyst estimates of $9.83 billion. During the same period in the prior year, the company earned $2.14 EPS. The company’s revenue was up 34.3% on a year-over-year basis. equities analysts predict that John Deere will post 9.66 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 1st. Investors of record on Friday, June 29th will be issued a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date is Thursday, June 28th. This is a positive change from John Deere’s previous quarterly dividend of $0.60. John Deere’s dividend payout ratio is currently 35.93%.
John Deere Profile
Deere & Company, together with its subsidiaries, manufactures and distributes agriculture and turf, and construction and forestry equipment worldwide. The company's Agriculture and Turf segment provides agriculture and turf equipment, and related service parts, including large, medium, and utility tractors; tractor loaders; combines, cotton pickers, cotton strippers, and sugarcane harvesters; related harvesting front-end equipment; sugarcane loaders and pull-behind scrapers; and tillage, seeding, and application equipment comprising sprayers, and nutrient management and soil preparation machinery.
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