Alliancebernstein L.P. Acquires 308 Shares of Deere & Company (NYSE:DE)
Alliancebernstein L.P. increased its stake in Deere & Company (NYSE:DE) by 0.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 569,474 shares of the industrial products company’s stock after buying an additional 308 shares during the period. Alliancebernstein L.P. owned about 0.18% of Deere & worth $61,993,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. PGGM Investments bought a new position in shares of Deere & during the first quarter worth approximately $26,179,000. Dai Ichi Life Insurance Company Ltd boosted its position in 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 valued at $2,334,000 after buying an additional 6,353 shares during the last quarter. Dodge & Cox acquired a new position in Deere & during the fourth quarter valued at about $2,678,000. Nordea Investment Management AB boosted its position in Deere & by 1.1% in the first quarter. Nordea Investment Management AB now owns 124,936 shares of the industrial products company’s stock valued at $13,601,000 after buying an additional 1,342 shares during the last quarter. Finally, Clinton Group Inc. acquired a new position in Deere & during the first quarter valued at about $1,088,000. 67.30% of the stock is currently owned by hedge funds and other institutional investors.
Deere & Company (NYSE:DE) traded up 0.19% during midday trading on Friday, reaching $129.75. The company had a trading volume of 1,212,492 shares. The stock has a market cap of $41.50 billion, a P/E ratio of 23.36 and a beta of 0.67. Deere & Company has a 12 month low of $76.73 and a 12 month high of $129.95. The firm has a 50-day moving average of $125.86 and a 200-day moving average of $115.48.
Deere & (NYSE:DE) last announced its quarterly earnings data on Friday, May 19th. The industrial products company reported $2.49 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.70 by $0.79. The business had revenue of $7.26 billion for the quarter, compared to analysts’ expectations of $7.27 billion. Deere & had a net margin of 6.52% and a return on equity of 24.85%. The business’s revenue was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.56 earnings per share. On average, equities analysts expect that Deere & Company will post $6.31 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Friday, June 30th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date of this dividend was Wednesday, June 28th. Deere &’s dividend payout ratio (DPR) is presently 43.24%.
Several analysts have recently weighed in on DE shares. Credit Suisse Group set a $132.00 price objective on Deere & and gave the company a “buy” rating in a report on Wednesday, April 12th. Stifel Nicolaus started coverage on Deere & in a report on Monday, April 10th. They issued a “buy” rating and a $126.00 price objective for the company. BMO Capital Markets restated a “buy” rating and issued a $128.00 price objective on shares of Deere & in a report on Thursday, April 20th. Wells Fargo & Company reaffirmed an “outperform” rating and set a $140.00 target price (up from $125.00) on shares of Deere & in a report on Tuesday, May 23rd. Finally, Citigroup Inc. upped their target price on Deere & from $125.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday, May 23rd. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and twelve have issued a buy rating to the company. Deere & currently has an average rating of “Hold” and a consensus price target of $122.24.
In other news, VP Marc A. Howze sold 6,624 shares of the company’s stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $119.59, for a total value of $792,164.16. Following the transaction, the vice president now owns 9,004 shares in the company, valued at $1,076,788.36. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Cory J. Reed sold 4,936 shares of the company’s stock in a transaction that occurred on Friday, June 16th. The stock was 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 owns 9,903 shares in the company, valued at approximately $1,267,584. The disclosure for this sale can be found here. In the last 90 days, insiders sold 105,612 shares of company stock worth $13,149,023. Corporate 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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