Ladenburg Thalmann Financial Services Inc. Sells 6,869 Shares of Deere & Company (DE)
Ladenburg Thalmann Financial Services Inc. lowered its position in shares of Deere & Company (NYSE:DE) by 6.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 101,589 shares of the industrial products company’s stock after selling 6,869 shares during the quarter. Ladenburg Thalmann Financial Services Inc.’s holdings in Deere & Company were worth $12,773,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in the business. AlphaStar Capital Management LLC bought a new stake in shares of Deere & Company during the 3rd quarter valued at about $1,612,000. Bank of Nova Scotia Trust Co. bought a new position in shares of Deere & Company during the 3rd quarter valued at approximately $302,000. Capital Bank & Trust Co grew its stake in shares of Deere & Company by 56.3% during the 3rd quarter. Capital Bank & Trust Co now owns 465,855 shares of the industrial products company’s stock valued at $58,507,000 after acquiring an additional 167,801 shares during the period. Capital International Investors grew its stake in shares of Deere & Company by 35.4% during the 3rd quarter. Capital International Investors now owns 8,807,474 shares of the industrial products company’s stock valued at $1,106,131,000 after acquiring an additional 2,300,531 shares during the period. Finally, Capital Guardian Trust Co. grew its stake in shares of Deere & Company by 18.2% during the 3rd quarter. Capital Guardian Trust Co. now owns 383,902 shares of the industrial products company’s stock valued at $48,214,000 after acquiring an additional 59,202 shares during the period. 67.75% of the stock is owned by institutional investors and hedge funds.
In related news, CFO Rajesh Kalathur sold 4,519 shares of the company’s stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $148.92, for a total value of $672,969.48. Following the sale, the chief financial officer now owns 36,288 shares in the company, valued at approximately $5,404,008.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Pentz Markwart Von sold 22,095 shares of the stock in a transaction on Tuesday, September 19th. The shares were sold at an average price of $120.10, for a total value of $2,653,609.50. Following the sale, the insider now owns 51,626 shares in the company, valued at approximately $6,200,282.60. The disclosure for this sale can be found here. Over the last three months, insiders sold 219,486 shares of company stock valued at $29,869,619. Insiders own 0.75% of the company’s stock.
Deere & Company (NYSE:DE) last posted its quarterly earnings data on Wednesday, November 22nd. The industrial products company reported $1.57 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.47 by $0.10. Deere & Company had a return on equity of 26.31% and a net margin of 7.22%. The firm had revenue of $7.09 billion for the quarter, compared to the consensus estimate of $6.91 billion. During the same quarter in the previous year, the business earned $0.90 EPS. The company’s quarterly revenue was up 25.6% compared to the same quarter last year. analysts forecast that Deere & Company will post 7.9 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, February 1st. Investors of record on Friday, December 29th will be given a $0.60 dividend. The ex-dividend date is Thursday, December 28th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.58%. Deere & Company’s dividend payout ratio (DPR) is presently 36.14%.
Several research analysts have weighed in on the company. ValuEngine upgraded Deere & Company from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Deutsche Bank upped their price target on Deere & Company from $129.00 to $149.00 and gave the stock a “hold” rating in a research note on Thursday, November 16th. Zacks Investment Research upgraded Deere & Company from a “hold” rating to a “buy” rating and set a $150.00 price target for the company in a research note on Thursday, November 2nd. Goldman Sachs Group restated a “buy” rating on shares of Deere & Company in a research note on Sunday, August 20th. Finally, Robert W. Baird raised Deere & Company from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $140.00 to $155.00 in a report on Tuesday, November 21st. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Deere & Company currently has an average rating of “Hold” and an average target price of $140.33.
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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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