State Board of Administration of Florida Retirement System lowered its position in Deere & Company (NYSE:DE) by 1.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 469,311 shares of the industrial products company’s stock after selling 8,612 shares during the period. State Board of Administration of Florida Retirement System owned about 0.15% of Deere & worth $58,002,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also recently made changes to their positions in DE. Marshall Wace North America L.P. acquired a new stake in shares of Deere & during the 2nd quarter valued at approximately $5,154,000. BB&T Securities LLC lifted its position in shares of Deere & by 7.5% during the 2nd quarter. BB&T Securities LLC now owns 61,561 shares of the industrial products company’s stock valued at $7,608,000 after acquiring an additional 4,273 shares during the period. KBC Group NV lifted its position in shares of Deere & by 6.3% during the 2nd quarter. KBC Group NV now owns 56,044 shares of the industrial products company’s stock valued at $6,927,000 after acquiring an additional 3,311 shares during the period. Cidel Asset Management Inc. lifted its position in shares of Deere & by 3.1% during the 2nd quarter. Cidel Asset Management Inc. now owns 126,773 shares of the industrial products company’s stock valued at $15,668,000 after acquiring an additional 3,814 shares during the period. Finally, Hartland & Co. LLC lifted its position in shares of Deere & by 3.8% during the 2nd quarter. Hartland & Co. LLC now owns 3,836 shares of the industrial products company’s stock valued at $474,000 after acquiring an additional 142 shares during the period. Hedge funds and other institutional investors own 66.58% of the company’s stock.
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In other Deere & news, insider Cory J. Reed sold 4,936 shares of the company’s stock in a transaction that occurred 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 owns 9,903 shares in the company, valued at approximately $1,267,584. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Jean H. Gilles sold 12,361 shares of the company’s stock in a transaction that occurred 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 owns 74,981 shares in the company, valued at approximately $9,740,031.90. The disclosure for this sale can be found here. In the last 90 days, insiders sold 76,769 shares of company stock valued at $9,357,212. 0.75% of the stock is owned by insiders.
Shares of Deere & Company (NYSE:DE) opened at 117.30 on Monday. Deere & Company has a 52 week low of $80.35 and a 52 week high of $132.50. The stock’s 50 day moving average is $123.14 and its 200 day moving average is $117.98. The stock has a market capitalization of $37.63 billion, a PE ratio of 19.48 and a beta of 0.70.
Deere & (NYSE:DE) last issued its quarterly earnings results on Friday, August 18th. The industrial products company reported $1.97 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.93 by $0.04. The business had revenue of $6.83 billion during the quarter, compared to the consensus estimate of $6.92 billion. Deere & had a net margin of 6.81% and a return on equity of 25.96%. The firm’s quarterly revenue was up 16.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.55 EPS. Analysts anticipate that Deere & Company will post $6.52 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Friday, September 29th will be given a $0.60 dividend. The ex-dividend date is Thursday, September 28th. This represents a $2.40 annualized dividend and a dividend yield of 2.05%. Deere &’s dividend payout ratio (DPR) is presently 40.20%.
A number of research firms have recently issued reports on DE. ValuEngine upgraded shares of Deere & from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. BidaskClub downgraded shares of Deere & from a “hold” rating to a “sell” rating in a research report on Saturday, August 26th. Piper Jaffray Companies set a $119.00 price target on shares of Deere & and gave the company a “hold” rating in a research report on Friday, August 25th. Stifel Nicolaus set a $135.00 price target on shares of Deere & and gave the company a “buy” rating in a research report on Wednesday, August 23rd. Finally, Argus reiterated a “buy” rating and set a $140.00 price target on shares of Deere & in a research report on Tuesday, August 22nd. Three analysts have rated the stock with a sell rating, sixteen have issued a hold rating and ten have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $127.58.
Deere & 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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