Azimuth Capital Management LLC boosted its stake in shares of Deere & Company (NYSE:DE) by 3.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,882 shares of the industrial products company’s stock after buying an additional 223 shares during the period. Azimuth Capital Management LLC’s holdings in Deere & were worth $749,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in DE. Ledyard National Bank increased its position in shares of Deere & by 5.0% in the first quarter. Ledyard National Bank now owns 1,050 shares of the industrial products company’s stock valued at $114,000 after buying an additional 50 shares during the last quarter. Guardian Life Insurance Co. of America increased its position in shares of Deere & by 1.4% in the first quarter. Guardian Life Insurance Co. of America now owns 1,132 shares of the industrial products company’s stock valued at $123,000 after buying an additional 16 shares during the last quarter. MCF Advisors LLC increased its position in shares of Deere & by 26.2% in the first quarter. MCF Advisors LLC now owns 1,160 shares of the industrial products company’s stock valued at $126,000 after buying an additional 241 shares during the last quarter. Endurance Wealth Management Inc. increased its position in shares of Deere & by 2.2% in the first quarter. Endurance Wealth Management Inc. now owns 1,404 shares of the industrial products company’s stock valued at $153,000 after buying an additional 30 shares during the last quarter. Finally, Heritage Trust Co purchased a new position in shares of Deere & during the first quarter valued at $185,000. 67.91% of the stock is owned by hedge funds and other institutional investors.
Deere & Company (DE) traded down 5.38% during midday trading on Friday, hitting $117.31. The company had a trading volume of 11,364,628 shares. Deere & Company has a one year low of $80.35 and a one year high of $132.50. The company has a market cap of $37.52 billion, a P/E ratio of 21.12 and a beta of 0.67. The company’s 50 day moving average is $126.94 and its 200-day moving average is $117.25.
Deere & (NYSE:DE) last posted its earnings results on Friday, August 18th. The industrial products company reported $1.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.93 by $0.04. Deere & had a return on equity of 24.85% and a net margin of 6.52%. The firm had revenue of $6.83 billion during the quarter, compared to analysts’ expectations of $6.92 billion. During the same period in the previous year, the firm earned $1.55 earnings per share. The company’s revenue was up 16.6% on a year-over-year basis. On average, equities analysts predict that Deere & Company will post $6.42 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Friday, June 30th were paid a $0.60 dividend. The ex-dividend date of this dividend was Wednesday, June 28th. This represents a $2.40 dividend on an annualized basis and a yield of 2.05%. Deere &’s payout ratio is 43.24%.
Several brokerages recently weighed in on DE. Credit Suisse Group set a $132.00 target price on shares of Deere & and gave the company a “buy” rating in a research note on Saturday, May 20th. BidaskClub downgraded shares of Deere & from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Stifel Nicolaus boosted their target price on shares of Deere & from $126.00 to $135.00 and gave the company a “buy” rating in a research note on Monday, May 22nd. J P Morgan Chase & Co raised shares of Deere & from an “underweight” rating to a “neutral” rating and upped their price objective for the company from $103.00 to $122.00 in a research note on Friday, June 2nd. Finally, Bank of America Corporation downgraded shares of Deere & from a “buy” rating to a “neutral” rating and set a $145.00 price objective for the company. in a research note on Tuesday. Three equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and ten have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $123.12.
In other news, insider Max A. Guinn sold 5,000 shares of the company’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $130.89, for a total transaction of $654,450.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jean H. Gilles sold 8,015 shares of the company’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $129.99, for a total value of $1,041,869.85. Following the transaction, the insider now directly owns 70,635 shares of the company’s stock, valued at $9,181,843.65. The disclosure for this sale can be found here. Over the last three months, insiders sold 118,524 shares of company stock valued at $14,960,467. Insiders own 0.85% of the company’s stock.
About Deere &
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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