BDO Wealth Advisors LLC bought a new position in Deere & Company (NYSE:DE) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,671 shares of the industrial products company’s stock, valued at approximately $454,000.
A number of other hedge funds have also modified their holdings of the business. Vanguard Group Inc. increased its holdings 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 purchasing an additional 1,541,004 shares in the last quarter. BlackRock Inc. increased its holdings in Deere & by 2,432.6% in the first quarter. BlackRock Inc. now owns 16,715,452 shares of the industrial products company’s stock worth $1,819,643,000 after purchasing an additional 16,055,453 shares in the last quarter. State Street Corp increased its holdings in Deere & by 0.4% in the first quarter. State Street Corp now owns 12,267,999 shares of the industrial products company’s stock worth $1,335,500,000 after purchasing an additional 45,695 shares in the last quarter. First Eagle Investment Management LLC increased its holdings in Deere & by 5.1% in the first quarter. First Eagle Investment Management LLC now owns 6,652,623 shares of the industrial products company’s stock worth $724,205,000 after purchasing an additional 322,158 shares in the last quarter. Finally, Loomis Sayles & Co. L P increased its holdings in Deere & by 0.5% in the first quarter. Loomis Sayles & Co. L P now owns 5,860,666 shares of the industrial products company’s stock worth $637,992,000 after purchasing an additional 26,303 shares in the last quarter. Institutional investors and hedge funds own 66.58% of the company’s stock.
Deere & Company (DE) opened at 119.01 on Friday. Deere & Company has a 52-week low of $81.89 and a 52-week high of $132.50. The stock has a market cap of $38.24 billion, a PE ratio of 19.77 and a beta of 0.70. The firm has a 50-day moving average price of $121.81 and a 200 day moving average price of $118.30.
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 return on equity of 25.96% and a net margin of 6.81%. The company had revenue of $6.83 billion during the quarter, compared to analyst estimates of $6.92 billion. During the same quarter last year, the company earned $1.55 EPS. The firm’s revenue for the quarter was up 16.6% on a year-over-year basis. On average, analysts forecast that Deere & Company will post $6.52 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Friday, September 29th will be paid a dividend of $0.60 per share. The ex-dividend date is Thursday, September 28th. This represents a $2.40 annualized dividend and a yield of 2.02%. Deere &’s dividend payout ratio is 40.20%.
In other Deere & news, insider Jean H. Gilles sold 12,361 shares of the stock in a transaction on Friday, August 4th. The stock was sold at an average price of $129.90, for a total transaction of $1,605,693.90. Following the sale, the insider now directly owns 74,981 shares in the company, valued at approximately $9,740,031.90. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Pentz Markwart Von sold 46,457 shares of the stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $116.74, for a total value of $5,423,390.18. Following the sale, the insider now owns 47,165 shares in the company, valued at $5,506,042.10. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 71,833 shares of company stock worth $8,725,404. Company insiders own 0.85% of the company’s stock.
DE has been the subject of a number of research analyst reports. ValuEngine upgraded Deere & from a “hold” rating to a “buy” rating in a report on Friday, September 1st. BidaskClub downgraded Deere & from a “buy” rating to a “hold” rating in a report on Wednesday, June 28th. Barclays PLC lifted their target price on Deere & from $82.00 to $90.00 and gave the stock a “sell” rating in a report on Monday, May 22nd. Robert W. Baird downgraded Deere & from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $140.00 to $130.00 in a report on Friday, August 18th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $150.00 target price (up from $140.00) on shares of Deere & in a report on Wednesday, August 16th. Three investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and ten have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $127.58.
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Deere & 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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