Seaward Management Limited Partnership decreased its stake in shares of Deere & Company (NYSE:DE) by 1.8% during the first quarter, according to its most recent filing with the SEC. The firm owned 226,570 shares of the industrial products company’s stock after selling 4,174 shares during the period. Seaward Management Limited Partnership’s holdings in Deere & were worth $24,664,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently added to or reduced their stakes in DE. Private Trust Co. NA bought a new position in shares of Deere & during the first quarter worth approximately $209,000. TNB Financial acquired a new stake in shares of Deere & during the first quarter worth about $291,000. Capstone Asset Management Co. raised its stake in shares of Deere & by 53.2% in the first quarter. Capstone Asset Management Co. now owns 38,143 shares of the industrial products company’s stock worth $4,152,000 after buying an additional 13,250 shares during the last quarter. CrestPoint Capital Management LLC acquired a new stake in shares of Deere & during the first quarter worth about $359,000. Finally, Stillwater Investment Management LLC raised its stake in shares of Deere & by 0.5% in the first quarter. Stillwater Investment Management LLC now owns 15,900 shares of the industrial products company’s stock worth $1,731,000 after buying an additional 85 shares during the last quarter. 67.35% of the stock is currently owned by hedge funds and other institutional investors.
Deere & Company (NYSE DE) traded up 1.12% during trading on Tuesday, reaching $131.41. 441,264 shares of the company’s stock traded hands. The company has a market cap of $42.03 billion, a PE ratio of 23.66 and a beta of 0.67. The company has a 50 day moving average price of $125.86 and a 200-day moving average price of $115.48. Deere & Company has a 12-month low of $76.73 and a 12-month high of $131.46. Deere & also was the recipient of some unusual options trading activity on Monday. Traders bought 731 call options on the company. This is an increase of 255% compared to the average volume of 206 call options.
Deere & (NYSE:DE) last posted its earnings results on Friday, May 19th. The industrial products company reported $2.49 EPS for the quarter, beating the Zacks’ consensus estimate of $1.70 by $0.79. The firm had revenue of $7.26 billion for the quarter, compared to the consensus estimate of $7.27 billion. Deere & had a net margin of 6.52% and a return on equity of 24.85%. The company’s revenue was up 2.2% on a year-over-year basis. During the same period last year, the firm posted $1.56 EPS. On average, equities research analysts forecast that Deere & Company will post $6.37 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Investors of record on Friday, June 30th were given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date of this dividend was Wednesday, June 28th. Deere &’s dividend payout ratio (DPR) is 43.24%.
A number of equities research analysts have issued reports on DE shares. Stifel Nicolaus started coverage on Deere & in a research note on Monday, April 10th. They issued a “buy” rating and a $126.00 price target for 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 Wednesday, April 12th. Barclays PLC reiterated a “sell” rating and issued a $82.00 price target (up previously from $80.00) on shares of Deere & in a research note on Tuesday, April 18th. BMO Capital Markets reiterated a “buy” rating and issued a $128.00 price target on shares of Deere & in a research note on Thursday, April 20th. Finally, J P Morgan Chase & Co upgraded Deere & to an “underweight” rating and increased their price target for the stock from $90.00 to $94.00 in a research note on Monday, May 1st. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and thirteen have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $122.60.
In related news, insider Cory J. Reed sold 4,936 shares of the stock in a transaction on Friday, June 16th. The shares were sold at an average price of $128.00, for a total value of $631,808.00. Following the transaction, the insider now directly owns 9,903 shares of the company’s stock, valued at approximately $1,267,584. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jean H. Gilles sold 12,361 shares of the stock in a transaction on Friday, August 4th. The shares were sold at an average price of $129.90, for a total transaction of $1,605,693.90. Following the completion of the transaction, the insider now directly owns 74,981 shares in the company, valued at $9,740,031.90. The disclosure for this sale can be found here. Insiders sold a total of 117,973 shares of company stock worth $14,754,717 over the last ninety days. 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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