Asset Management One Co. Ltd. Decreases Position in Deere & Company (NYSE:DE)
Asset Management One Co. Ltd. decreased its position in Deere & Company (NYSE:DE) by 6.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 422,674 shares of the industrial products company’s stock after selling 29,396 shares during the period. Asset Management One Co. Ltd. owned approximately 0.13% of Deere & worth $46,020,000 as of its most recent filing with the SEC.
Several other large investors also recently modified their holdings of the company. Ledyard National Bank boosted its stake in shares of Deere & by 5.0% in the first quarter. Ledyard National Bank now owns 1,050 shares of the industrial products company’s stock worth $114,000 after buying an additional 50 shares during the period. MCF Advisors LLC boosted its stake in Deere & by 26.2% in the first quarter. MCF Advisors LLC now owns 1,160 shares of the industrial products company’s stock worth $126,000 after buying an additional 241 shares during the period. Sowell Financial Services LLC acquired a new stake in Deere & during the fourth quarter worth approximately $142,000. Advantage Investment Management LLC acquired a new stake in Deere & during the fourth quarter worth approximately $143,000. Finally, Endurance Wealth Management Inc. boosted its stake in Deere & by 2.2% in the first quarter. Endurance Wealth Management Inc. now owns 1,404 shares of the industrial products company’s stock worth $153,000 after buying an additional 30 shares during the period. Hedge funds and other institutional investors own 67.30% of the company’s stock.
Deere & Company (DE) traded up 0.19% during midday trading on Friday, hitting $129.75. The company had a trading volume of 1,212,391 shares. Deere & Company has a 12-month low of $76.73 and a 12-month high of $129.95. The company’s 50 day moving average is $125.86 and its 200 day moving average is $115.48. The stock has a market cap of $41.50 billion, a price-to-earnings ratio of 23.36 and a beta of 0.67.
Deere & (NYSE:DE) last posted its earnings results on Friday, May 19th. The industrial products company reported $2.49 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.70 by $0.79. The company had revenue of $7.26 billion for the quarter, compared to analyst estimates of $7.27 billion. Deere & had a net margin of 6.52% and a return on equity of 24.85%. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period last year, the business posted $1.56 earnings per share. On average, equities analysts anticipate that Deere & Company will post $6.31 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Friday, June 30th were issued a $0.60 dividend. The ex-dividend date of this dividend was Wednesday, June 28th. This represents a $2.40 annualized dividend and a yield of 1.85%. Deere &’s dividend payout ratio (DPR) is presently 43.24%.
Several analysts recently commented on DE shares. Credit Suisse Group set a $132.00 target price on Deere & and gave the stock a “buy” rating in a report on Saturday, May 20th. BidaskClub lowered Deere & from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Barclays PLC reaffirmed a “sell” rating and issued a $82.00 price target (up from $80.00) on shares of Deere & in a research note on Tuesday, April 18th. Stifel Nicolaus lifted their price target on Deere & from $126.00 to $135.00 and gave the stock a “buy” rating in a research note on Monday, May 22nd. Finally, J P Morgan Chase & Co upgraded Deere & from an “underweight” rating to a “neutral” rating and lifted their price objective for the stock from $103.00 to $122.00 in a research report on Friday, June 2nd. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating and twelve have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $122.24.
In related news, CEO Samuel R. Allen sold 62,704 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief executive officer now owns 333,492 shares of the company’s stock, valued at $41,686,500. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Cory J. Reed sold 4,936 shares of the firm’s stock in a transaction on Friday, June 16th. The shares were sold at an average price of $128.00, for a total transaction of $631,808.00. Following the completion of the transaction, the insider now directly owns 9,903 shares of the company’s stock, valued at approximately $1,267,584. The disclosure for this sale can be found here. Over the last quarter, insiders sold 105,612 shares of company stock worth $13,149,023. Company insiders own 0.85% of the company’s stock.
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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