Earnest Partners LLC trimmed its holdings in shares of Deere & Company (NYSE:DE) by 35.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 68,201 shares of the industrial products company’s stock after selling 37,895 shares during the period. Earnest Partners LLC’s holdings in Deere & were worth $8,429,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. PointState Capital LP purchased a new stake in Deere & during the second quarter valued at about $4,264,000. Sustainable Insight Capital Management LLC purchased a new stake in Deere & during the second quarter valued at about $14,176,000. Cornerstone Capital Management Holdings LLC. boosted its position in Deere & by 54.8% during the second quarter. Cornerstone Capital Management Holdings LLC. now owns 200,393 shares of the industrial products company’s stock valued at $24,765,000 after buying an additional 70,914 shares during the period. Colonial Trust Advisors boosted its position in Deere & by 15.0% during the second quarter. Colonial Trust Advisors now owns 27,165 shares of the industrial products company’s stock valued at $3,357,000 after buying an additional 3,550 shares during the period. Finally, Janus Henderson Group PLC boosted its position in Deere & by 1,010.7% during the second quarter. Janus Henderson Group PLC now owns 1,133,585 shares of the industrial products company’s stock valued at $140,101,000 after buying an additional 1,031,528 shares during the period. Institutional investors and hedge funds own 66.17% of the company’s stock.
Several research firms have issued reports on DE. Argus restated a “buy” rating and set a $140.00 price target on shares of Deere & in a research report on Tuesday, August 22nd. BidaskClub lowered shares of Deere & from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Zacks Investment Research lowered shares of Deere & from a “buy” rating to a “hold” rating in a research report on Monday, August 21st. Credit Suisse Group lowered shares of Deere & from a “neutral” rating to an “outperform” rating in a research report on Tuesday, August 22nd. Finally, Bank of America Corporation lowered shares of Deere & from a “buy” rating to a “neutral” rating and set a $145.00 price target for the company. in a research report on Tuesday, August 15th. Three research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and ten have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $127.97.
In other news, insider Jean H. Gilles sold 12,361 shares of the business’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $129.90, for a total value of $1,605,693.90. Following the completion of the sale, the insider now owns 74,981 shares in the company, valued at approximately $9,740,031.90. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Pentz Markwart Von sold 46,457 shares of the business’s stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $116.74, for a total transaction of $5,423,390.18. Following the completion of the sale, the insider now owns 47,165 shares of the company’s stock, valued at approximately $5,506,042.10. The disclosure for this sale can be found here. In the last 90 days, insiders sold 116,023 shares of company stock valued at $14,185,962. Company insiders own 0.85% of the company’s stock.
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Deere & Company (DE) opened at 128.605 on Friday. Deere & Company has a 52 week low of $85.27 and a 52 week high of $132.50. The firm’s 50 day moving average is $121.55 and its 200-day moving average is $120.42. The company has a market cap of $41.32 billion, a P/E ratio of 21.359 and a beta of 0.69.
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, beating the consensus estimate of $1.93 by $0.04. The company had revenue of $6.83 billion during 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 firm’s quarterly revenue was up 16.6% on a year-over-year basis. During the same period in the previous year, the company earned $1.55 EPS. On average, analysts predict that Deere & Company will post $6.52 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Friday, September 29th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $2.40 annualized dividend and a dividend yield of 1.87%. Deere &’s dividend payout ratio is currently 40.20%.
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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