Tower Research Capital LLC TRC decreased its stake in Deere & Company (NYSE:DE) by 66.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,357 shares of the industrial products company’s stock after selling 8,592 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Deere & Company were worth $735,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in the stock. Benjamin Edwards Inc. boosted its stake in Deere & Company by 69.7% in the third quarter. Benjamin Edwards Inc. now owns 151 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 62 shares in the last quarter. Atwater Malick LLC acquired a new position in Deere & Company in the third quarter worth $27,000. SRS Capital Advisors Inc. acquired a new position in Deere & Company in the second quarter worth $28,000. Arcus Capital Partners LLC acquired a new position in Deere & Company in the second quarter worth $33,000. Finally, Orrstown Financial Services Inc. boosted its stake in Deere & Company by 116.0% in the second quarter. Orrstown Financial Services Inc. now owns 216 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 116 shares in the last quarter. 67.29% of the stock is currently owned by institutional investors and hedge funds.
NYSE DE traded up $1.38 on Friday, reaching $175.76. The company had a trading volume of 318,011 shares, compared to its average volume of 1,774,915. The stock’s 50 day moving average is $171.80 and its 200-day moving average is $160.18. The stock has a market cap of $55.54 billion, a price-to-earnings ratio of 18.72, a PEG ratio of 2.37 and a beta of 1.15. The company has a quick ratio of 1.73, a current ratio of 1.99 and a debt-to-equity ratio of 2.38. Deere & Company has a 52 week low of $132.68 and a 52 week high of $180.48.
Deere & Company (NYSE:DE) last released its quarterly earnings data on Friday, August 16th. The industrial products company reported $2.71 EPS for the quarter, missing analysts’ consensus estimates of $2.80 by ($0.09). The company 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 company’s revenue for the quarter was down 3.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.59 EPS. As a group, analysts forecast that Deere & Company will post 9.95 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Monday, September 30th were paid a $0.76 dividend. The ex-dividend date was Friday, September 27th. This represents a $3.04 dividend on an annualized basis and a yield of 1.73%. Deere & Company’s payout ratio is 32.37%.
DE has been the topic of a number of recent analyst reports. Stephens initiated coverage on Deere & Company in a research note on Wednesday, August 14th. They issued an “equal weight” rating and a $160.00 price objective on the stock. Barclays set a $180.00 price objective on Deere & Company and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Bank of America lowered Deere & Company from a “buy” rating to a “neutral” rating in a research note on Thursday. Morgan Stanley boosted their price objective on Deere & Company from $177.00 to $180.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. Finally, Deutsche Bank reduced their price objective on Deere & Company from $163.00 to $155.00 and set a “hold” rating on the stock in a research note on Wednesday, August 14th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and eleven have issued a buy rating to the company. Deere & Company currently has an average rating of “Hold” and an average target price of $170.26.
In other news, Chairman Samuel R. Allen sold 114,253 shares of the company’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $178.30, for a total transaction of $20,371,309.90. Following the completion of the transaction, the chairman now directly owns 423,497 shares of the company’s stock, valued at $75,509,515.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider James M. Field sold 12,637 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $180.00, for a total value of $2,274,660.00. Following the transaction, the insider now directly owns 113,858 shares of the company’s stock, valued at $20,494,440. The disclosure for this sale can be found here. 0.71% of the stock is currently owned by insiders.
Deere & Company 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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