Deere & Company (DE) Position Raised by Global Endowment Management LP

Global Endowment Management LP raised its stake in shares of Deere & Company (NYSE:DE) by 7.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,490 shares of the industrial products company’s stock after buying an additional 230 shares during the period. Global Endowment Management LP’s holdings in Deere & were worth $379,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of DE. Geode Capital Management LLC boosted its stake in Deere & by 11.2% in the first quarter. Geode Capital Management LLC now owns 2,794,419 shares of the industrial products company’s stock worth $303,767,000 after buying an additional 282,029 shares in the last quarter. Azimuth Capital Management LLC boosted its stake in Deere & by 3.3% in the first quarter. Azimuth Capital Management LLC now owns 6,882 shares of the industrial products company’s stock worth $749,000 after buying an additional 223 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in Deere & by 20.4% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 39,186 shares of the industrial products company’s stock worth $4,266,000 after buying an additional 6,650 shares in the last quarter. Vanguard Group Inc. boosted its stake in Deere & by 8.2% in the first quarter. Vanguard Group Inc. now owns 20,440,278 shares of the industrial products company’s stock worth $2,225,128,000 after buying an additional 1,541,004 shares in the last quarter. Finally, Guardian Life Insurance Co. of America boosted its stake in 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 worth $123,000 after buying an additional 16 shares in the last quarter. Institutional investors own 67.91% of the company’s stock.

Shares of Deere & Company (DE) traded down 5.38% during trading on Friday, hitting $117.31. 11,364,628 shares of the stock were exchanged. Deere & Company has a 52 week low of $80.35 and a 52 week high of $132.50. The stock’s 50 day moving average price is $126.94 and its 200 day moving average price is $117.25. The firm has a market capitalization of $37.52 billion, a price-to-earnings ratio of 21.12 and a beta of 0.67.

Deere & (NYSE:DE) last posted its quarterly earnings data on Friday, August 18th. The industrial products company reported $1.97 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.93 by $0.04. Deere & had a net margin of 6.52% and a return on equity of 24.85%. The business had revenue of $6.83 billion for the quarter, compared to analysts’ expectations of $6.92 billion. During the same quarter in the previous year, the business posted $1.55 earnings per share. The business’s revenue was up 16.6% compared to the same quarter last year. On average, equities analysts predict that Deere & Company will post $6.42 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Friday, June 30th were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date was Wednesday, June 28th. Deere &’s dividend payout ratio (DPR) is 43.24%.

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A number of brokerages recently weighed in on DE. UBS AG reaffirmed a “neutral” rating and issued a $122.00 target price (up from $112.00) on shares of Deere & in a research note on Monday, May 22nd. Credit Suisse Group set a $132.00 target price on shares of Deere & and gave the stock a “buy” rating in a research note on Saturday, May 20th. Jefferies Group LLC restated a “hold” rating and set a $125.00 price objective on shares of Deere & in a research note on Wednesday, August 9th. Barclays PLC set a $100.00 price objective on shares of Deere & and gave the stock a “sell” rating in a research note on Sunday, June 4th. Finally, Deutsche Bank AG restated a “hold” rating and set a $139.00 price objective (up from $135.00) on shares of Deere & in a research note on Friday, August 11th. Three equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and ten have issued a buy rating to the stock. Deere & presently has a consensus rating of “Hold” and an average price target of $123.12.

In other news, insider John C. May II sold 19,907 shares of the business’s stock in a transaction on Tuesday, June 6th. The shares were sold at an average price of $125.57, for a total transaction of $2,499,721.99. Following the completion of the sale, the insider now directly owns 49,241 shares of the company’s stock, valued at $6,183,192.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Cory J. Reed sold 5,601 shares of the business’s stock in a transaction on Thursday, May 25th. The shares were sold at an average price of $123.00, for a total transaction of $688,923.00. Following the sale, the insider now directly owns 10,568 shares of the company’s stock, valued at $1,299,864. The disclosure for this sale can be found here. Insiders have sold 118,524 shares of company stock worth $14,960,467 in the last quarter. Company insiders own 0.85% of the company’s stock.

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.

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

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