Deere & Company (DE) Stake Lessened by Glenview Trust Co
Glenview Trust Co lowered its position in shares of Deere & Company (NYSE:DE) by 11.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,339 shares of the industrial products company’s stock after selling 4,594 shares during the quarter. Glenview Trust Co’s holdings in Deere & were worth $4,614,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in DE. QCI Asset Management Inc. NY raised its holdings in shares of Deere & by 18.8% during the second quarter. QCI Asset Management Inc. NY now owns 950 shares of the industrial products company’s stock valued at $117,000 after acquiring an additional 150 shares during the period. Guardian Life Insurance Co. of America raised its holdings in shares of Deere & by 1.4% during the first quarter. Guardian Life Insurance Co. of America now owns 1,132 shares of the industrial products company’s stock valued at $123,000 after acquiring an additional 16 shares during the period. Arrow Financial Corp raised its holdings in shares of Deere & by 5.2% during the second quarter. Arrow Financial Corp now owns 1,010 shares of the industrial products company’s stock valued at $125,000 after acquiring an additional 50 shares during the period. Harfst & Associates Inc. raised its holdings in shares of Deere & by 44.2% during the second quarter. Harfst & Associates Inc. now owns 1,175 shares of the industrial products company’s stock valued at $145,000 after acquiring an additional 360 shares during the period. Finally, Endurance Wealth Management Inc. raised its holdings in shares of Deere & by 2.2% during the first quarter. Endurance Wealth Management Inc. now owns 1,404 shares of the industrial products company’s stock valued at $153,000 after acquiring an additional 30 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.
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A number of equities research analysts have recently issued reports on DE shares. Citigroup Inc. boosted their price target on shares of Deere & from $145.00 to $150.00 and gave the company a “buy” rating in a report on Friday, June 9th. BidaskClub lowered shares of Deere & from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 22nd. Goldman Sachs Group, Inc. (The) started coverage on shares of Deere & in a report on Tuesday, August 8th. They set a “buy” rating on the stock. Credit Suisse Group set a $148.00 price target on shares of Deere & and gave the company a “buy” rating in a report on Friday, August 18th. Finally, Argus restated a “buy” rating and set a $140.00 price target on shares of Deere & in a report on Tuesday, August 22nd. Three analysts have rated the stock with a sell rating, sixteen have issued a hold rating and ten have given a buy rating to the stock. Deere & has a consensus rating of “Hold” and an average target price of $127.76.
Shares of Deere & Company (NYSE DE) opened at 128.33 on Thursday. The company has a market capitalization of $41.23 billion, a P/E ratio of 21.31 and a beta of 0.69. Deere & Company has a 12-month low of $85.05 and a 12-month high of $132.50. The company’s 50 day moving average is $120.09 and its 200 day moving average is $119.70. Deere & also saw some unusual options trading activity on Monday. Traders purchased 731 call options on the company. This represents an increase of 255% compared to the typical daily volume of 206 call options.
Deere & (NYSE:DE) last posted its quarterly earnings data on Friday, August 18th. The industrial products company reported $1.97 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.93 by $0.04. The company had revenue of $6.83 billion for the quarter, compared to the consensus estimate of $6.92 billion. Deere & had a net margin of 6.81% and a return on equity of 25.96%. The firm’s revenue was up 16.6% compared to the same quarter last year. During the same period last year, the company earned $1.55 earnings per share. Analysts expect that Deere & Company will post $6.52 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Friday, September 29th will be issued a dividend of $0.60 per share. The ex-dividend date is Thursday, September 28th. This represents a $2.40 dividend on an annualized basis and a yield of 1.87%. Deere &’s payout ratio is 40.20%.
In related news, insider Pentz Markwart Von sold 46,457 shares of the business’s stock in a transaction on 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 transaction, the insider now directly owns 47,165 shares in the company, valued at $5,506,042.10. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Jean H. Gilles sold 8,015 shares of the business’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $129.99, for a total transaction of $1,041,869.85. Following the transaction, the insider now owns 70,635 shares in the company, valued at $9,181,843.65. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 116,023 shares of company stock worth $14,185,962. 0.85% of the stock is owned by corporate insiders.
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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