Caxton Associates LP acquired a new position in Deere & Company (NYSE:DE) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 105,000 shares of the industrial products company’s stock, valued at approximately $12,977,000.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in DE. Parkwood LLC raised its holdings in Deere & by 144.8% in the 1st quarter. Parkwood LLC now owns 59,328 shares of the industrial products company’s stock worth $6,458,000 after acquiring an additional 35,093 shares during the last quarter. Wedbush Securities Inc. purchased a new position in Deere & in the 1st quarter worth approximately $205,000. Pax World Management LLC purchased a new position in Deere & in the 1st quarter worth approximately $207,000. Fortaleza Asset Management Inc. purchased a new position in Deere & in the 1st quarter worth approximately $359,000. Finally, Toronto Dominion Bank raised its holdings in Deere & by 54.1% in the 1st quarter. Toronto Dominion Bank now owns 81,301 shares of the industrial products company’s stock worth $8,850,000 after acquiring an additional 28,536 shares during the last quarter. Institutional investors own 66.17% of the company’s stock.
Deere & (NYSE:DE) last announced its earnings results on Friday, August 18th. The industrial products company reported $1.97 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 business had revenue of $6.83 billion for the quarter, compared to analyst estimates of $6.92 billion. During the same quarter last year, the business earned $1.55 earnings per share. The company’s revenue for the quarter was up 16.6% compared to the same quarter last year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders 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 1.87%. Deere &’s dividend payout ratio (DPR) is 40.20%.
In other news, insider Jean H. Gilles sold 12,361 shares of the firm’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $129.90, for a total value of $1,605,693.90. Following the transaction, the insider now directly owns 74,981 shares of the company’s stock, valued at $9,740,031.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jean H. Gilles sold 8,015 shares of the firm’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $129.99, for a total transaction of $1,041,869.85. Following the completion of the transaction, the insider now directly owns 70,635 shares in the company, valued at $9,181,843.65. The disclosure for this sale can be found here. In the last quarter, insiders sold 116,023 shares of company stock worth $14,185,962. Company insiders own 0.85% of the company’s stock.
COPYRIGHT VIOLATION NOTICE: This report was originally reported by Markets Daily and is the property of of Markets Daily. If you are viewing this report on another publication, it was illegally stolen and republished in violation of international copyright & trademark law. The correct version of this report can be viewed at https://www.themarketsdaily.com/2017/10/13/105000-shares-in-deere-company-de-purchased-by-caxton-associates-lp.html.
A number of equities analysts recently weighed in on the stock. Robert W. Baird restated a “hold” rating and issued a $140.00 price objective on shares of Deere & in a report on Thursday. Deutsche Bank AG restated a “hold” rating and issued a $129.00 price objective (down from $135.00) on shares of Deere & in a report on Monday. ValuEngine upgraded shares of Deere & from a “hold” rating to a “buy” rating in a report on Friday, September 1st. BidaskClub lowered shares of Deere & from a “hold” rating to a “sell” rating in a report on Saturday, August 26th. Finally, Piper Jaffray Companies set a $119.00 price objective on shares of Deere & and gave the stock a “hold” rating in a report on Friday, August 25th. Three analysts have rated the stock with a sell rating, sixteen have given a hold rating and ten have issued a buy rating to the stock. Deere & presently has a consensus rating of “Hold” and an average target price of $127.97.
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.
Want to see what other hedge funds are holding DE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Deere & Company (NYSE:DE).
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.