Deere & Company (NYSE:DE) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lessened its stake in shares of Deere & Company (NYSE:DE) by 6.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,212,199 shares of the industrial products company’s stock after selling 87,279 shares during the quarter. Principal Financial Group Inc. owned 0.39% of Deere & Company worth $427,555,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Geode Capital Management LLC boosted its stake in shares of Deere & Company by 3.3% in the first quarter. Geode Capital Management LLC now owns 4,741,641 shares of the industrial products company’s stock valued at $1,768,939,000 after purchasing an additional 153,433 shares during the period. Parnassus Investments CA boosted its position in Deere & Company by 1.0% in the 1st quarter. Parnassus Investments CA now owns 3,811,679 shares of the industrial products company’s stock valued at $1,426,102,000 after buying an additional 38,969 shares during the last quarter. Nuveen Asset Management LLC boosted its position in Deere & Company by 24.4% in the 1st quarter. Nuveen Asset Management LLC now owns 2,662,032 shares of the industrial products company’s stock valued at $995,972,000 after buying an additional 522,637 shares during the last quarter. Weitzel Financial Services Inc. grew its stake in shares of Deere & Company by 35,664.3% during the second quarter. Weitzel Financial Services Inc. now owns 1,959,166 shares of the industrial products company’s stock valued at $5,523,000 after acquiring an additional 1,953,688 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Deere & Company by 0.9% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,628,176 shares of the industrial products company’s stock worth $574,274,000 after acquiring an additional 14,248 shares during the last quarter. 67.02% of the stock is owned by institutional investors.

In other news, insider Cory J. Reed sold 6,188 shares of the firm’s stock in a transaction on Wednesday, August 11th. The stock was sold at an average price of $385.00, for a total transaction of $2,382,380.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.31% of the stock is owned by company insiders.

DE has been the subject of a number of recent analyst reports. Stifel Nicolaus raised their price objective on Deere & Company from $405.00 to $430.00 and gave the company a “buy” rating in a research note on Monday, May 24th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Deere & Company from $404.00 to $383.00 and set a “hold” rating on the stock in a report on Monday, August 23rd. Credit Suisse Group increased their price objective on shares of Deere & Company from $439.00 to $440.00 and gave the company an “outperform” rating in a research note on Monday, August 23rd. Morgan Stanley dropped their target price on shares of Deere & Company from $450.00 to $442.00 and set an “overweight” rating for the company in a research report on Tuesday, July 13th. Finally, BMO Capital Markets increased their price target on shares of Deere & Company from $400.00 to $425.00 and gave the stock a “market perform” rating in a research report on Tuesday, May 25th. Five analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, Deere & Company presently has a consensus rating of “Buy” and a consensus price target of $365.52.

Deere & Company stock opened at $355.98 on Wednesday. The company has a debt-to-equity ratio of 2.05, a quick ratio of 1.93 and a current ratio of 2.17. Deere & Company has a one year low of $210.18 and a one year high of $400.34. The company has a 50-day simple moving average of $364.40 and a 200-day simple moving average of $364.25. The firm has a market capitalization of $110.38 billion, a P/E ratio of 20.62, a P/E/G ratio of 0.91 and a beta of 1.06.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, August 19th. The industrial products company reported $5.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.58 by $0.74. Deere & Company had a net margin of 12.82% and a return on equity of 37.60%. The firm had revenue of $10.41 billion during the quarter, compared to analyst estimates of $10.33 billion. During the same period in the previous year, the business posted $2.57 EPS. Deere & Company’s revenue was up 32.5% on a year-over-year basis. As a group, sell-side analysts forecast that Deere & Company will post 18.9 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 8th. Investors of record on Thursday, September 30th will be issued a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a yield of 1.18%. This is a positive change from Deere & Company’s previous quarterly dividend of $0.90. The ex-dividend date is Wednesday, September 29th. Deere & Company’s dividend payout ratio is 41.43%.

Deere & Company Company Profile

Deere & Co engages in the manufacturing and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf; Construction and Forestry; and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacturing of full line of agriculture and turf equipment and related service parts.

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Institutional Ownership by Quarter for Deere & Company (NYSE:DE)

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