Fruth Investment Management cut its stake in Deere & Company (NYSE:DE) by 0.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,950 shares of the industrial products company’s stock after selling 63 shares during the quarter. Fruth Investment Management’s holdings in Deere & Company were worth $1,847,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of DE. Cerebellum GP LLC bought a new stake in shares of Deere & Company during the third quarter worth $132,000. Rudd International Inc. bought a new stake in shares of Deere & Company during the third quarter worth $203,000. Trust Co. of Toledo NA OH lifted its position in shares of Deere & Company by 40.1% during the third quarter. Trust Co. of Toledo NA OH now owns 13,522 shares of the industrial products company’s stock worth $2,281,000 after purchasing an additional 3,873 shares during the last quarter. Chesley Taft & Associates LLC bought a new stake in shares of Deere & Company during the third quarter worth $211,000. Finally, State of Alaska Department of Revenue lifted its position in shares of Deere & Company by 22.5% during the third quarter. State of Alaska Department of Revenue now owns 56,012 shares of the industrial products company’s stock worth $9,448,000 after purchasing an additional 10,299 shares during the last quarter. Institutional investors own 67.53% of the company’s stock.
In other Deere & Company news, COO John C. May II sold 5,228 shares of Deere & Company stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $170.00, for a total value of $888,760.00. Following the transaction, the chief operating officer now owns 49,310 shares in the company, valued at $8,382,700. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.71% of the company’s stock.
Shares of DE stock traded up $1.55 on Wednesday, hitting $166.52. The stock had a trading volume of 163,669 shares, compared to its average volume of 2,029,893. The company has a quick ratio of 1.73, a current ratio of 1.99 and a debt-to-equity ratio of 2.38. The business has a 50 day moving average price of $160.12 and a 200 day moving average price of $158.08. The company has a market cap of $52.80 billion, a PE ratio of 17.72, a P/E/G ratio of 2.52 and a beta of 1.16. Deere & Company has a one year low of $128.32 and a one year high of $171.22.
Deere & Company (NYSE:DE) last released its quarterly earnings data on Friday, August 16th. The industrial products company reported $2.71 earnings per share for the quarter, missing the consensus estimate of $2.80 by ($0.09). The firm had revenue of $8.97 billion during the quarter, compared to the consensus estimate of $9.38 billion. Deere & Company had a net margin of 8.55% and a return on equity of 27.75%. The business’s revenue was down 3.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.59 earnings per share. Equities research analysts expect that Deere & Company will post 9.98 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Monday, September 30th will be issued a $0.76 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $3.04 annualized dividend and a dividend yield of 1.83%. Deere & Company’s payout ratio is currently 32.37%.
Several analysts have recently weighed in on DE shares. Jefferies Financial Group upgraded Deere & Company from a “hold” rating to a “buy” rating and lifted their target price for the stock from $150.00 to $190.00 in a research report on Monday, June 24th. Bank of America decreased their target price on Deere & Company from $185.00 to $175.00 and set a “buy” rating for the company in a research report on Monday, August 19th. Deutsche Bank decreased their target price on Deere & Company from $163.00 to $155.00 and set a “hold” rating for the company in a research report on Wednesday, August 14th. Robert W. Baird reiterated an “outperform” rating and set a $176.00 target price (up from $161.00) on shares of Deere & Company in a research report on Monday, September 30th. Finally, Credit Suisse Group reiterated an “outperform” rating and set a $197.00 target price (up from $176.00) on shares of Deere & Company in a research report on Monday, August 19th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $168.42.
Deere & Company Profile
Deere & Company manufactures and distributes various equipment worldwide. The company operates through three segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment offers agriculture and turf equipment, and related parts, including large, medium, and utility tractors; tractor loaders; combines, cotton pickers, cotton strippers, and sugarcane harvesters; harvesting front-end equipment; sugarcane loaders and pull-behind scrapers; and tillage, seeding, and application equipment.
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