Whittier Trust Co. of Nevada Inc. boosted its position in shares of Deere & Company (NYSE:DE) by 1.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,898 shares of the industrial products company’s stock after buying an additional 186 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in Deere & were worth $1,223,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. RMB Capital Management LLC purchased a new position in shares of Deere & during the fourth quarter worth $341,000. UBS Asset Management Americas Inc. raised its stake in Deere & by 5.3% in the fourth quarter. UBS Asset Management Americas Inc. now owns 771,587 shares of the industrial products company’s stock valued at $79,503,000 after buying an additional 39,041 shares during the period. Teachers Advisors LLC raised its stake in Deere & by 2.4% in the fourth quarter. Teachers Advisors LLC now owns 591,957 shares of the industrial products company’s stock valued at $60,995,000 after buying an additional 13,994 shares during the period. First Financial Bank N.A. Trust Division raised its stake in Deere & by 0.8% in the first quarter. First Financial Bank N.A. Trust Division now owns 9,663 shares of the industrial products company’s stock valued at $1,052,000 after buying an additional 75 shares during the period. Finally, Chevy Chase Trust Holdings Inc. raised its stake in Deere & by 4.4% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 253,348 shares of the industrial products company’s stock valued at $27,580,000 after buying an additional 10,625 shares during the period. 67.91% of the stock is currently owned by institutional investors and hedge funds.
Shares of Deere & Company (NYSE:DE) traded down 5.38% during trading on Friday, reaching $117.31. The company had a trading volume of 11,364,628 shares. The firm has a market capitalization 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 firm’s 50 day moving average price is $126.94 and its 200 day moving average price 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 for the quarter, compared to analyst estimates of $6.92 billion. During the same quarter in the prior year, the company earned $1.55 EPS. Deere &’s revenue was up 16.6% on a year-over-year basis. Equities analysts predict that Deere & Company will post $6.42 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Investors of record on Friday, June 30th were paid a $0.60 dividend. 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 payout ratio is currently 43.24%.
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Several research firms recently commented on DE. Credit Suisse Group set a $132.00 target price on Deere & and gave the stock a “buy” rating in a report on Saturday, May 20th. BidaskClub lowered Deere & from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Stifel Nicolaus raised their target price on Deere & from $126.00 to $135.00 and gave the stock a “buy” rating in a report on Monday, May 22nd. J P Morgan Chase & Co raised Deere & from an “underweight” rating to a “neutral” rating and raised their target price for the stock from $103.00 to $122.00 in a report on Friday, June 2nd. Finally, Bank of America Corporation lowered Deere & from a “buy” rating to a “neutral” rating and set a $145.00 target price on the stock. in a report on Tuesday. Three analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and ten have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $123.12.
In related news, insider Jean H. Gilles sold 8,015 shares of the company’s stock in a transaction that occurred on 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 sale, the insider now owns 70,635 shares of the company’s stock, valued at approximately $9,181,843.65. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Max A. Guinn sold 5,000 shares of the stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $130.89, for a total value of $654,450.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 118,524 shares of company stock worth $14,960,467. 0.85% of the stock is owned by corporate insiders.
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.
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