Renaissance Technologies LLC raised its stake in Deere & Company (NYSE:DE) by 431.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 152,400 shares of the industrial products company’s stock after acquiring an additional 123,700 shares during the period. Renaissance Technologies LLC’s holdings in Deere & were worth $18,835,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in shares of Deere & by 5.6% during the second quarter. Vanguard Group Inc. now owns 21,593,762 shares of the industrial products company’s stock worth $2,668,774,000 after buying an additional 1,153,484 shares during the period. BlackRock Inc. boosted its stake in shares of Deere & by 2.5% during the second quarter. BlackRock Inc. now owns 17,125,313 shares of the industrial products company’s stock worth $2,116,517,000 after buying an additional 409,861 shares during the period. State Street Corp boosted its stake in shares of Deere & by 0.4% during the first quarter. State Street Corp now owns 12,267,999 shares of the industrial products company’s stock worth $1,335,500,000 after buying an additional 45,695 shares during the period. Loomis Sayles & Co. L P boosted its stake in shares of Deere & by 0.5% during the first quarter. Loomis Sayles & Co. L P now owns 5,860,666 shares of the industrial products company’s stock worth $637,992,000 after buying an additional 26,303 shares during the period. Finally, Primecap Management Co. CA boosted its stake in shares of Deere & by 2.8% during the first quarter. Primecap Management Co. CA now owns 5,518,919 shares of the industrial products company’s stock worth $600,790,000 after buying an additional 151,200 shares during the period. Institutional investors own 66.17% of the company’s stock.
In related news, insider Pentz Markwart Von sold 46,457 shares of the business’s stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $116.74, for a total value of $5,423,390.18. Following the sale, the insider now directly owns 47,165 shares in the company, valued at approximately $5,506,042.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John C. May II sold 22,095 shares of the business’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $127.04, for a total transaction of $2,806,948.80. Following the completion of the sale, the insider now owns 51,429 shares in the company, valued at $6,533,540.16. The disclosure for this sale can be found here. Insiders sold a total of 116,023 shares of company stock worth $14,185,962 over the last quarter. Insiders own 0.85% of the company’s stock.
Deere & Company (NYSE DE) opened at 128.50 on Friday. The stock’s 50 day moving average is $121.55 and its 200-day moving average is $120.42. The stock has a market capitalization of $41.29 billion, a PE ratio of 21.34 and a beta of 0.69. Deere & Company has a 52 week low of $85.27 and a 52 week high of $132.50.
Deere & (NYSE:DE) last released its earnings results on Friday, August 18th. The industrial products company reported $1.97 EPS for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $6.92 billion. During the same period in the previous year, the firm earned $1.55 EPS. The business’s revenue for the quarter was up 16.6% on a year-over-year basis. Equities research analysts forecast that Deere & Company will post $6.52 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Friday, September 29th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.87%. Deere &’s payout ratio is currently 40.20%.
Several equities research analysts have recently weighed in on DE shares. BidaskClub downgraded shares of Deere & from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 22nd. Berenberg Bank decreased their target price on shares of Deere & from $100.00 to $90.00 and set a “sell” rating for the company in a research note on Wednesday, June 28th. Jefferies Group LLC reiterated a “hold” rating and set a $125.00 target price on shares of Deere & in a research note on Thursday, July 6th. Goldman Sachs Group, Inc. (The) upgraded shares of Deere & from a “buy” rating to a “conviction-buy” rating and set a $129.75 target price for the company in a research note on Monday, August 7th. Finally, Deutsche Bank AG reiterated a “hold” rating and set a $139.00 target price (up previously from $135.00) on shares of Deere & in a research note on Friday, August 11th. Three research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and ten have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $127.97.
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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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