Advisory Services Network LLC raised its position in Deere & Co. (NYSE:DE) by 18.2% during the second quarter, Holdings Channel reports. The institutional investor owned 2,365 shares of the company’s stock after buying an additional 364 shares during the period. Advisory Services Network LLC’s holdings in Deere & Co. were worth $192,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in the company. State Street Corp increased its position in Deere & Co. by 0.3% in the first quarter. State Street Corp now owns 12,081,309 shares of the company’s stock worth $930,132,000 after buying an additional 38,519 shares in the last quarter. Primecap Management Co. CA boosted its stake in Deere & Co. by 19.3% in the first quarter. Primecap Management Co. CA now owns 5,286,519 shares of the company’s stock worth $407,009,000 after buying an additional 856,000 shares during the last quarter. Legal & General Group Plc boosted its stake in Deere & Co. by 0.3% in the first quarter. Legal & General Group Plc now owns 1,436,384 shares of the company’s stock worth $110,619,000 after buying an additional 3,974 shares during the last quarter. Thomaspartners Inc. boosted its stake in Deere & Co. by 4.3% in the first quarter. Thomaspartners Inc. now owns 1,343,887 shares of the company’s stock worth $103,466,000 after buying an additional 55,848 shares during the last quarter. Finally, 1832 Asset Management L.P. boosted its stake in Deere & Co. by 289.6% in the first quarter. 1832 Asset Management L.P. now owns 1,012,335 shares of the company’s stock worth $131,221,000 after buying an additional 752,519 shares during the last quarter. 70.62% of the stock is owned by hedge funds and other institutional investors.
Deere & Co. (NYSE:DE) traded up 1.18% during trading on Friday, reaching $86.30. The company’s stock had a trading volume of 2,922,678 shares. Deere & Co. has a 52 week low of $70.16 and a 52 week high of $88.63. The firm has a market cap of $27.13 billion, a P/E ratio of 17.29 and a beta of 0.89. The stock’s 50 day moving average is $84.40 and its 200-day moving average is $81.94.
Deere & Co. (NYSE:DE) last announced its earnings results on Friday, August 19th. The company reported $1.55 EPS for the quarter, topping the consensus estimate of $0.94 by $0.61. The company had revenue of $6.72 billion for the quarter. Deere & Co. had a return on equity of 22.73% and a net margin of 5.92%. Deere & Co.’s revenue for the quarter was down 14.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.53 EPS. On average, equities research analysts forecast that Deere & Co. will post $4.30 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Friday, September 30th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 2.78%. The ex-dividend date of this dividend is Wednesday, September 28th. Deere & Co.’s payout ratio is presently 48.10%.
A number of equities research analysts have issued reports on DE shares. Argus raised their target price on Deere & Co. from $90.00 to $98.00 and gave the company a “buy” rating in a research note on Tuesday, August 23rd. Jefferies Group cut their target price on Deere & Co. from $90.00 to $85.00 and set a “hold” rating on the stock in a research note on Thursday, August 25th. Piper Jaffray Cos. reiterated an “underweight” rating and issued a $70.00 target price on shares of Deere & Co. in a research note on Tuesday, August 30th. Morgan Stanley reiterated a “sell” rating on shares of Deere & Co. in a research note on Thursday, June 30th. Finally, Barclays PLC reiterated an “underweight” rating and issued a $63.00 target price on shares of Deere & Co. in a research note on Monday, August 22nd. Eight investment analysts have rated the stock with a sell rating, nine have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Deere & Co. presently has an average rating of “Hold” and a consensus target price of $82.40.
Deere & Co. Company Profile
Deere & Company is engaged in equipment operations and financial services. The Company operates through three business segments: agriculture and turf, construction and forestry, and financial services. The Company’s agriculture and turf segment primarily manufactures and distributes a full line of agriculture and turf equipment and related service parts.
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