Iowa State Bank Purchases 1,000 Shares of Deere & Company (NYSE:DE)
Iowa State Bank raised its position in shares of Deere & Company (NYSE:DE) by 46.6% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,147 shares of the industrial products company’s stock after acquiring an additional 1,000 shares during the period. Iowa State Bank’s holdings in Deere & Company were worth $531,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also recently bought and sold shares of the business. DRW Securities LLC purchased a new stake in shares of Deere & Company during the second quarter valued at $227,000. Clarius Group LLC lifted its stake in Deere & Company by 6.3% in the second quarter. Clarius Group LLC now owns 1,984 shares of the industrial products company’s stock worth $329,000 after acquiring an additional 117 shares during the period. Buckingham Asset Management LLC lifted its stake in Deere & Company by 6.4% in the second quarter. Buckingham Asset Management LLC now owns 3,766 shares of the industrial products company’s stock worth $624,000 after acquiring an additional 226 shares during the period. Cetera Advisor Networks LLC lifted its stake in Deere & Company by 15.4% in the second quarter. Cetera Advisor Networks LLC now owns 14,377 shares of the industrial products company’s stock worth $2,388,000 after acquiring an additional 1,917 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its stake in Deere & Company by 0.4% in the second quarter. Price T Rowe Associates Inc. MD now owns 649,925 shares of the industrial products company’s stock worth $107,699,000 after acquiring an additional 2,598 shares during the period. Institutional investors and hedge funds own 67.54% of the company’s stock.
In other news, COO John C. May II sold 5,228 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $170.00, for a total transaction of $888,760.00. Following the transaction, the chief operating officer now owns 49,310 shares in the company, valued at $8,382,700. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.71% of the company’s stock.
Deere & Company (NYSE:DE) last announced its earnings results on Friday, August 16th. The industrial products company reported $2.71 EPS for the quarter, missing the Zacks’ consensus estimate of $2.80 by ($0.09). The firm had revenue of $8.97 billion during the quarter, compared to the consensus estimate of $9.38 billion. Deere & Company had a return on equity of 27.75% and a net margin of 8.55%. The business’s revenue for the quarter was down 3.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.59 earnings per share. On average, equities analysts predict that Deere & Company will post 9.96 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Monday, September 30th will be issued a $0.76 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $3.04 dividend on an annualized basis and a yield of 1.75%. Deere & Company’s dividend payout ratio is presently 32.37%.
A number of research firms recently weighed in on DE. Barclays set a $180.00 price objective on shares of Deere & Company and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Morgan Stanley upped their price objective on shares of Deere & Company from $177.00 to $180.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. UBS Group lowered their price objective on shares of Deere & Company from $167.00 to $160.00 and set a “neutral” rating for the company in a research note on Monday, August 19th. Stephens began coverage on shares of Deere & Company in a research note on Wednesday, August 14th. They issued an “equal weight” rating and a $160.00 price objective for the company. Finally, Credit Suisse Group reaffirmed an “outperform” rating and issued a $197.00 price objective (up from $176.00) on shares of Deere & Company in a research note on Monday, August 19th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating to the stock. Deere & Company has an average rating of “Hold” and an average price target of $169.21.
Deere & Company Company Profile
Deere & Company manufactures and distributes various equipment worldwide. The company operates through three segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment offers agriculture and turf equipment, and related parts, including large, medium, and utility tractors; tractor loaders; combines, cotton pickers, cotton strippers, and sugarcane harvesters; harvesting front-end equipment; sugarcane loaders and pull-behind scrapers; and tillage, seeding, and application equipment.
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