Mercer Capital Advisers Inc. Maintains Stake in Deere & Company (DE)
Mercer Capital Advisers Inc. continued to hold its position in shares of Deere & Company (NYSE:DE) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 900 shares of the industrial products company’s stock at the end of the second quarter. Mercer Capital Advisers Inc.’s holdings in Deere & were worth $111,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently modified their holdings of DE. Vanguard Group Inc. raised its position in shares of Deere & by 8.2% in the first quarter. Vanguard Group Inc. now owns 20,440,278 shares of the industrial products company’s stock worth $2,225,128,000 after buying an additional 1,541,004 shares during the last quarter. BlackRock Inc. raised its position in shares of Deere & by 2,432.6% in the first quarter. BlackRock Inc. now owns 16,715,452 shares of the industrial products company’s stock worth $1,819,643,000 after buying an additional 16,055,453 shares during the last quarter. State Street Corp raised its position in shares of Deere & by 0.4% in the first quarter. State Street Corp now owns 12,267,999 shares of the industrial products company’s stock worth $1,335,500,000 after buying an additional 45,695 shares during the last quarter. First Eagle Investment Management LLC raised its position in shares of Deere & by 5.1% in the first quarter. First Eagle Investment Management LLC now owns 6,652,623 shares of the industrial products company’s stock worth $724,205,000 after buying an additional 322,158 shares during the last quarter. Finally, Loomis Sayles & Co. L P raised its position in shares of Deere & by 0.5% in the first quarter. Loomis Sayles & Co. L P now owns 5,860,666 shares of the industrial products company’s stock worth $637,992,000 after buying an additional 26,303 shares during the last quarter. Institutional investors and hedge funds own 67.21% of the company’s stock.
Shares of Deere & Company (NYSE DE) opened at 115.89 on Wednesday. The firm has a market capitalization of $37.18 billion, a PE ratio of 19.25 and a beta of 0.67. Deere & Company has a 52-week low of $80.35 and a 52-week high of $132.50. The company’s 50-day moving average is $125.70 and its 200 day moving average is $117.56.
Deere & (NYSE:DE) last announced its quarterly earnings results on Friday, August 18th. The industrial products company reported $1.97 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.93 by $0.04. The business had revenue of $6.83 billion during the quarter, compared to analyst estimates of $6.92 billion. Deere & had a return on equity of 25.96% and a net margin of 6.81%. The firm’s 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. Equities analysts expect that Deere & Company will post $6.52 earnings per share for the current fiscal year.
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A number of research firms have recently weighed in on DE. BidaskClub lowered shares of Deere & from a “buy” rating to a “hold” rating in a research note on Wednesday, June 28th. Barclays PLC increased their price objective on shares of Deere & from $82.00 to $90.00 and gave the stock a “sell” rating in a research note on Monday, May 22nd. Robert W. Baird lowered shares of Deere & from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $140.00 to $130.00 in a research note on Friday, August 18th. BMO Capital Markets reiterated an “outperform” rating and issued a $150.00 price objective (up previously from $140.00) on shares of Deere & in a research note on Wednesday, August 16th. Finally, Stifel Nicolaus set a $135.00 price objective on shares of Deere & and gave the stock a “buy” rating in a research note on Wednesday, August 23rd. Three investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $127.58.
In other news, insider Pentz Markwart Von sold 46,457 shares of the business’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $116.74, for a total transaction of $5,423,390.18. Following the sale, the insider now directly owns 47,165 shares in the company, valued at $5,506,042.10. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Samuel R. Allen sold 62,704 shares of the business’s 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 owns 333,492 shares in the company, valued at $41,686,500. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 159,380 shares of company stock valued at $19,694,934. Corporate insiders own 0.75% of the company’s stock.
About Deere &
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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