Piedmont Investment Advisors LLC Sells 14,191 Shares of Deere & Company (NYSE:DE)

Piedmont Investment Advisors LLC reduced its stake in Deere & Company (NYSE:DE) by 11.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 114,414 shares of the industrial products company’s stock after selling 14,191 shares during the period. Piedmont Investment Advisors LLC’s holdings in Deere & were worth $12,455,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of DE. Stock Yards Bank & Trust Co. increased its stake in shares of Deere & by 0.4% in the first quarter. Stock Yards Bank & Trust Co. now owns 6,958 shares of the industrial products company’s stock worth $757,000 after buying an additional 25 shares during the last quarter. First National Bank of Mount Dora Trust Investment Services increased its stake in shares of Deere & by 5.7% in the first quarter. First National Bank of Mount Dora Trust Investment Services now owns 29,921 shares of the industrial products company’s stock worth $3,257,000 after buying an additional 1,601 shares during the last quarter. Chesley Taft & Associates LLC increased its stake in shares of Deere & by 440.2% in the first quarter. Chesley Taft & Associates LLC now owns 14,045 shares of the industrial products company’s stock worth $1,529,000 after buying an additional 11,445 shares during the last quarter. Gulf International Bank UK Ltd increased its stake in shares of Deere & by 1.2% in the first quarter. Gulf International Bank UK Ltd now owns 82,746 shares of the industrial products company’s stock worth $9,007,000 after buying an additional 1,000 shares during the last quarter. Finally, Koshinski Asset Management Inc. increased its stake in shares of Deere & by 34.1% in the first quarter. Koshinski Asset Management Inc. now owns 4,273 shares of the industrial products company’s stock worth $465,000 after buying an additional 1,086 shares during the last quarter. 67.91% of the stock is owned by institutional investors and hedge funds.

Deere & Company (NYSE:DE) opened at 117.31 on Friday. The firm has a market cap of $37.52 billion, a P/E ratio of 21.12 and a beta of 0.67. Deere & Company has a 12-month low of $80.35 and a 12-month high of $132.50. The company has a 50-day moving average price of $126.94 and a 200-day moving average price of $117.25.

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

The business also recently declared 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 annualized dividend and a dividend 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 equities research analysts have weighed in on DE shares. BidaskClub downgraded shares of Deere & from a “buy” rating to a “hold” rating in a report on Wednesday, June 28th. Barclays PLC upped their price target on shares of Deere & from $82.00 to $90.00 and gave the company a “sell” rating in a report on Monday, May 22nd. Robert W. Baird downgraded shares of Deere & from an “outperform” rating to a “neutral” rating and cut their price target for the company from $140.00 to $130.00 in a report on Friday. BMO Capital Markets reissued an “outperform” rating and issued a $150.00 price target (up from $140.00) on shares of Deere & in a report on Wednesday. Finally, Bank of America Corporation upped their price target on shares of Deere & from $130.00 to $145.00 and gave the company a “buy” rating in a report on Wednesday, May 24th. Three analysts have rated the stock with a sell rating, sixteen have issued a hold rating and ten have given a buy rating to the company. Deere & has a consensus rating of “Hold” and a consensus target price of $123.12.

In other Deere & news, insider Max A. Guinn sold 5,000 shares of the business’s stock in a transaction that occurred on 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 document filed with the SEC, which is accessible through the SEC website. Also, insider Cory J. Reed sold 4,936 shares of the business’s stock in a transaction that occurred on Friday, June 16th. The stock was sold at an average price of $128.00, for a total value of $631,808.00. Following the transaction, the insider now directly owns 9,903 shares in the company, valued at approximately $1,267,584. The disclosure for this sale can be found here. Insiders have sold a total of 118,524 shares of company stock worth $14,960,467 in the last ninety days. 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.

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

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