Los Angeles Capital Management & Equity Research Inc. cut its holdings in shares of Deere & Company (NYSE:DE) by 20.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,274,079 shares of the industrial products company’s stock after selling 334,022 shares during the period. Deere & comprises approximately 0.9% of Los Angeles Capital Management & Equity Research Inc.’s investment portfolio, making the stock its 13th biggest position. Los Angeles Capital Management & Equity Research Inc. owned 0.40% of Deere & worth $160,012,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in DE. Advantus Capital Management Inc lifted its stake in Deere & by 2.1% during the first quarter. Advantus Capital Management Inc now owns 29,550 shares of the industrial products company’s stock worth $3,217,000 after purchasing an additional 607 shares during the last quarter. Teachers Advisors LLC increased its holdings in shares of Deere & by 1.6% during the first quarter. Teachers Advisors LLC now owns 601,213 shares of the industrial products company’s stock worth $65,448,000 after buying an additional 9,256 shares in the last quarter. Bridgewater Associates LP acquired a new position in shares of Deere & during the first quarter worth $4,440,000. Global Financial Private Capital LLC acquired a new position in shares of Deere & during the first quarter worth $235,000. Finally, Stephens Inc. AR increased its holdings in shares of Deere & by 2.9% during the first quarter. Stephens Inc. AR now owns 7,449 shares of the industrial products company’s stock worth $811,000 after buying an additional 211 shares in the last quarter. Hedge funds and other institutional investors own 65.67% of the company’s stock.
Several brokerages have recently issued reports on DE. Zacks Investment Research upgraded shares of Deere & from a “hold” rating to a “buy” rating and set a $150.00 price target for the company in a report on Thursday, November 2nd. Jefferies Group LLC reiterated a “hold” rating and set a $125.00 price target on shares of Deere & in a report on Wednesday, August 9th. BMO Capital Markets reiterated a “buy” rating and set a $150.00 price target on shares of Deere & in a report on Thursday, November 2nd. Deutsche Bank AG reiterated a “hold” rating and set a $139.00 price target (up from $135.00) on shares of Deere & in a report on Friday, August 11th. Finally, Robert W. Baird downgraded shares of Deere & from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $140.00 to $130.00 in a report on Friday, August 18th. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and ten have given a buy rating to the stock. Deere & presently has a consensus rating of “Hold” and a consensus price target of $129.08.
In other news, insider Pentz Markwart Von sold 22,095 shares of the stock in a transaction dated Tuesday, September 19th. The shares were sold at an average price of $120.10, for a total transaction of $2,653,609.50. Following the transaction, the insider now owns 51,626 shares of the company’s stock, valued at approximately $6,200,282.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Max A. Guinn sold 7,174 shares of the stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $132.98, for a total transaction of $953,998.52. Following the transaction, the insider now directly owns 49,562 shares in the company, valued at approximately $6,590,754.76. The disclosure for this sale can be found here. Insiders have sold a total of 149,141 shares of company stock worth $18,694,199 in the last three months. Insiders own 0.75% of the company’s stock.
Deere & Company (NYSE DE) traded up $0.95 during mid-day trading on Monday, hitting $132.23. 2,990,700 shares of the stock were exchanged, compared to its average volume of 2,359,648. The company has a market cap of $42,520.00, a PE ratio of 22.14, a PEG ratio of 2.39 and a beta of 0.73. The company has a quick ratio of 1.90, a current ratio of 2.10 and a debt-to-equity ratio of 2.76. Deere & Company has a one year low of $89.69 and a one year high of $136.69.
Deere & (NYSE:DE) last released its quarterly earnings data on Friday, August 18th. The industrial products company reported $1.97 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.93 by $0.04. The company had revenue of $6.83 billion for the quarter, compared to analysts’ expectations of $6.92 billion. Deere & had a net margin of 6.81% and a return on equity of 25.96%. The business’s revenue was up 16.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.55 EPS. research analysts forecast that Deere & Company will post 6.47 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 1st. Stockholders of record on Friday, September 29th were given a dividend of $0.60 per share. The ex-dividend date was Thursday, September 28th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.82%. Deere &’s dividend payout ratio (DPR) is presently 40.07%.
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.
Receive News & Ratings for Deere & Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Deere & Company and related companies with MarketBeat.com's FREE daily email newsletter.