Wayne Hummer Investments L.L.C. purchased a new position in Deere & Company (NYSE:DE) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,800 shares of the industrial products company’s stock, valued at approximately $222,000.
A number of other large investors have also bought and sold shares of the stock. Columbus Circle Investors raised its position in Deere & by 35.2% in the second quarter. Columbus Circle Investors now owns 712,342 shares of the industrial products company’s stock worth $88,038,000 after purchasing an additional 185,475 shares in the last quarter. Marshall Wace North America L.P. acquired a new position in Deere & in the second quarter worth about $5,154,000. BB&T Securities LLC raised its position in Deere & by 7.5% in the second quarter. BB&T Securities LLC now owns 61,561 shares of the industrial products company’s stock worth $7,608,000 after purchasing an additional 4,273 shares in the last quarter. KBC Group NV raised its position in Deere & by 6.3% in the second quarter. KBC Group NV now owns 56,044 shares of the industrial products company’s stock worth $6,927,000 after purchasing an additional 3,311 shares in the last quarter. Finally, Cidel Asset Management Inc. raised its position in Deere & by 3.1% in the second quarter. Cidel Asset Management Inc. now owns 126,773 shares of the industrial products company’s stock worth $15,668,000 after purchasing an additional 3,814 shares in the last quarter. 66.58% of the stock is owned by hedge funds and other institutional investors.
Deere & Company (NYSE DE) opened at 117.30 on Monday. The company has a market capitalization of $37.63 billion, a PE ratio of 19.48 and a beta of 0.70. The firm has a 50-day moving average of $123.14 and a 200-day moving average of $117.98. Deere & Company has a 52 week low of $80.35 and a 52 week high of $132.50.
Deere & (NYSE:DE) last posted its quarterly earnings data on Friday, August 18th. The industrial products company reported $1.97 EPS for the quarter, beating the Zacks’ consensus estimate of $1.93 by $0.04. Deere & had a net margin of 6.81% and a return on equity of 25.96%. The company had revenue of $6.83 billion for the quarter, compared to analyst estimates of $6.92 billion. During the same period in the prior year, the firm posted $1.55 EPS. The company’s quarterly revenue was up 16.6% on a year-over-year basis. Equities analysts expect that Deere & Company will post $6.52 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Friday, September 29th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date of this dividend is Thursday, September 28th. Deere &’s dividend payout ratio is currently 40.20%.
In other news, insider Max A. Guinn sold 5,000 shares of the company’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $130.89, for a total value of $654,450.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Pentz Markwart Von sold 46,457 shares of the company’s stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $116.74, for a total transaction of $5,423,390.18. Following the completion of the sale, the insider now directly owns 47,165 shares in the company, valued at $5,506,042.10. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 76,769 shares of company stock worth $9,357,212. Insiders own 0.75% of the company’s stock.
Several research firms have recently weighed in on DE. TheStreet raised shares of Deere & from a “c+” rating to an “a-” rating in a report on Friday, May 19th. Citigroup Inc. raised their price objective on shares of Deere & from $125.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, May 23rd. Stifel Nicolaus raised their price objective on shares of Deere & from $126.00 to $135.00 and gave the stock a “buy” rating in a report on Monday, May 22nd. Credit Suisse Group set a $132.00 price objective on shares of Deere & and gave the stock a “buy” rating in a report on Saturday, May 20th. Finally, Bank of America Corporation raised their price objective on shares of Deere & from $130.00 to $145.00 and gave the stock a “buy” rating in a report on Wednesday, May 24th. Three research 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 stock currently has a consensus rating of “Hold” and an average target price of $127.58.
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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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