Deere & Company (DE) Shares Sold by Quantitative Investment Management LLC
Quantitative Investment Management LLC trimmed its holdings in shares of Deere & Company (NYSE:DE) by 22.3% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 42,400 shares of the industrial products company’s stock after selling 12,200 shares during the period. Quantitative Investment Management LLC’s holdings in Deere & were worth $5,240,000 as of its most recent filing with the SEC.
Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in Deere & by 8.2% in the 1st quarter. Vanguard Group Inc. now owns 20,440,278 shares of the industrial products company’s stock valued at $2,225,128,000 after buying an additional 1,541,004 shares in the last quarter. BlackRock Inc. raised its stake in Deere & by 2.5% during the 2nd quarter. BlackRock Inc. now owns 17,125,313 shares of the industrial products company’s stock worth $2,116,517,000 after buying an additional 409,861 shares during the period. State Street Corp raised its stake in Deere & by 0.4% during the 1st 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 period. First Eagle Investment Management LLC raised its stake in Deere & by 5.1% during the 1st 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 period. Finally, Loomis Sayles & Co. L P raised its stake in Deere & by 0.5% during the 1st 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 period. 66.20% of the stock is owned by institutional investors.
In other Deere & news, insider Jean H. Gilles sold 12,361 shares of the business’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $129.90, for a total transaction of $1,605,693.90. Following the completion of the sale, the insider now directly owns 74,981 shares in the company, valued at approximately $9,740,031.90. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Max A. Guinn sold 5,000 shares of the business’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $130.89, for a total transaction of $654,450.00. The disclosure for this sale can be found here. Insiders have sold a total of 93,928 shares of company stock worth $11,379,013 in the last 90 days. Company insiders own 0.75% of the company’s stock.
Several equities research analysts have recently commented on DE shares. ValuEngine upgraded Deere & from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Deutsche Bank AG reaffirmed a “hold” rating and set a $139.00 target price (up from $135.00) on shares of Deere & in a research report on Friday, August 11th. Jefferies Group LLC reiterated a “hold” rating and issued a $125.00 target price on shares of Deere & in a report on Wednesday, August 9th. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating on shares of Deere & in a report on Sunday, August 20th. Finally, Credit Suisse Group downgraded shares of Deere & from a “neutral” rating to an “outperform” rating in a research report on Tuesday, August 22nd. Three investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Deere & presently has an average rating of “Hold” and an average price target of $127.58.
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Shares of Deere & Company (NYSE:DE) opened at 127.29 on Tuesday. Deere & Company has a 12-month low of $84.51 and a 12-month high of $132.50. The company has a market cap of $40.90 billion, a PE ratio of 21.14 and a beta of 0.69. The company has a 50 day moving average of $120.07 and a 200-day moving average of $119.51. Deere & also saw some unusual options trading on Monday. Stock traders bought 731 call options on the stock. This is an increase of 255% compared to the typical daily volume of 206 call options.
Deere & (NYSE:DE) last released its quarterly earnings data on Friday, August 18th. The industrial products company reported $1.97 EPS for the quarter, topping the consensus estimate of $1.93 by $0.04. Deere & had a return on equity of 25.96% and a net margin of 6.81%. The company had revenue of $6.83 billion during the quarter, compared to the consensus estimate of $6.92 billion. During the same period last year, the company earned $1.55 EPS. Deere &’s revenue for the quarter was up 16.6% on a year-over-year basis. Equities research analysts anticipate that Deere & Company will post $6.52 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Friday, September 29th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 1.89%. The ex-dividend date of this dividend is Thursday, September 28th. 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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