Bremer Trust National Association reduced its position in Deere & Company (NYSE:DE) by 22.0% during the second quarter, Holdings Channel reports. The firm owned 4,259 shares of the industrial products company’s stock after selling 1,198 shares during the period. Bremer Trust National Association’s holdings in Deere & were worth $526,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently modified their holdings of DE. PGGM Investments purchased a new position in shares of Deere & during the first quarter worth about $26,179,000. Dai Ichi Life Insurance Company Ltd raised its position in shares of Deere & by 42.1% in the first quarter. Dai Ichi Life Insurance Company Ltd now owns 21,438 shares of the industrial products company’s stock worth $2,334,000 after buying an additional 6,353 shares during the period. Ngam Advisors L.P. raised its position in shares of Deere & by 20.8% in the first quarter. Ngam Advisors L.P. now owns 427,136 shares of the industrial products company’s stock worth $46,498,000 after buying an additional 73,484 shares during the period. Nordea Investment Management AB raised its position in shares of Deere & by 1.1% in the first quarter. Nordea Investment Management AB now owns 124,936 shares of the industrial products company’s stock worth $13,601,000 after buying an additional 1,342 shares during the period. Finally, Burney Co. raised its position in shares of Deere & by 1.8% in the first quarter. Burney Co. now owns 191,616 shares of the industrial products company’s stock worth $20,859,000 after buying an additional 3,348 shares during the period. Institutional investors own 67.35% of the company’s stock.
Deere & Company (DE) traded down 1.31% during midday trading on Thursday, reaching $130.67. The company had a trading volume of 633,499 shares. The stock has a market capitalization of $41.80 billion, a PE ratio of 23.52 and a beta of 0.67. The firm’s 50 day moving average is $126.50 and its 200 day moving average is $116.42. Deere & Company has a 1-year low of $76.73 and a 1-year high of $132.50. Deere & also saw unusually large options trading activity on Monday. Stock investors acquired 731 call options on the stock. This represents an increase of 255% compared to the average volume of 206 call options.
Deere & (NYSE:DE) last issued its earnings results on Friday, May 19th. The industrial products company reported $2.49 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.79. Deere & had a net margin of 6.52% and a return on equity of 24.85%. The company had revenue of $7.26 billion for the quarter, compared to analyst estimates of $7.27 billion. During the same period in the prior year, the business posted $1.56 earnings per share. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. On average, equities analysts anticipate that Deere & Company will post $6.37 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Friday, June 30th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Wednesday, June 28th. This represents a $2.40 annualized dividend and a yield of 1.81%. Deere &’s payout ratio is currently 43.24%.
A number of equities analysts recently issued reports on DE shares. Credit Suisse Group set a $132.00 target price on Deere & and gave the stock a “buy” rating in a research note on Wednesday, April 12th. BMO Capital Markets restated a “buy” rating and issued a $128.00 target price on shares of Deere & in a research note on Thursday, April 20th. Citigroup Inc. raised their target price on Deere & from $125.00 to $145.00 and gave the stock a “buy” rating in a research note on Tuesday, May 23rd. Wells Fargo & Company restated an “outperform” rating and issued a $140.00 target price (up previously from $125.00) on shares of Deere & in a research note on Tuesday, May 23rd. Finally, TheStreet upgraded Deere & from a “c+” rating to an “a-” rating in a research note on Friday, May 19th. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and thirteen have given a buy rating to the company’s stock. Deere & has an average rating of “Hold” and an average target price of $122.60.
In other news, CEO Samuel R. Allen sold 62,704 shares of the stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $125.00, for a total value of $7,838,000.00. Following the sale, the chief executive officer now directly owns 333,492 shares in the company, valued at $41,686,500. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Marc A. Howze sold 6,624 shares of the stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $119.59, for a total transaction of $792,164.16. Following the completion of the sale, the vice president now owns 9,004 shares in the company, valued at $1,076,788.36. The disclosure for this sale can be found here. Insiders have sold 130,988 shares of company stock worth $16,451,037 over the last 90 days. 0.85% of the stock is currently owned by company insiders.
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.
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