Country Trust Bank decreased its holdings in shares of Deere & Company (NYSE:DE) by 38.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 608 shares of the industrial products company’s stock after selling 379 shares during the quarter. Country Trust Bank’s holdings in Deere & Company were worth $135,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also bought and sold shares of the company. CX Institutional lifted its holdings in shares of Deere & Company by 662.5% during the 2nd quarter. CX Institutional now owns 183 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 159 shares in the last quarter. Capital Advisory Group Advisory Services LLC acquired a new position in shares of Deere & Company during the 1st quarter valued at $28,000. TCTC Holdings LLC acquired a new position in shares of Deere & Company during the 2nd quarter valued at $47,000. Baystate Wealth Management LLC lifted its holdings in Deere & Company by 32.6% in the 2nd quarter. Baystate Wealth Management LLC now owns 321 shares of the industrial products company’s stock worth $51,000 after buying an additional 79 shares in the last quarter. Finally, Watson Rebecca acquired a new position in Deere & Company in the 2nd quarter worth $55,000. Institutional investors and hedge funds own 67.77% of the company’s stock.
In other Deere & Company news, CAO Marc A. Howze sold 7,996 shares of the company’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $208.17, for a total value of $1,664,527.32. Following the completion of the transaction, the chief accounting officer now owns 22,440 shares in the company, valued at approximately $4,671,334.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Rajesh Kalathur sold 10,760 shares of the company’s stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $180.00, for a total transaction of $1,936,800.00. Following the completion of the transaction, the insider now owns 62,131 shares of the company’s stock, valued at approximately $11,183,580. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 28,668 shares of company stock valued at $5,435,047. Insiders own 0.70% of the company’s stock.
Deere & Company (NYSE:DE) last announced its quarterly earnings data on Friday, August 21st. The industrial products company reported $2.57 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $1.31. Deere & Company had a net margin of 7.61% and a return on equity of 22.24%. The business had revenue of $7.86 billion during the quarter, compared to the consensus estimate of $6.70 billion. During the same quarter in the prior year, the firm earned $2.71 EPS. The company’s revenue for the quarter was down 12.4% compared to the same quarter last year. Equities research analysts predict that Deere & Company will post 7.54 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 9th. Investors of record on Wednesday, September 30th will be given a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date is Tuesday, September 29th. Deere & Company’s dividend payout ratio is presently 30.58%.
A number of brokerages have commented on DE. Royal Bank of Canada boosted their price objective on shares of Deere & Company from $180.00 to $228.00 and gave the stock an “outperform” rating in a report on Monday, August 24th. Citigroup boosted their price objective on shares of Deere & Company from $215.00 to $250.00 and gave the stock a “neutral” rating in a report on Monday, October 12th. JPMorgan Chase & Co. boosted their price objective on shares of Deere & Company from $174.00 to $201.00 and gave the stock an “underweight” rating in a report on Thursday, October 8th. They noted that the move was a valuation call. Jefferies Financial Group boosted their price objective on shares of Deere & Company from $165.00 to $200.00 and gave the stock a “buy” rating in a report on Friday, July 17th. Finally, Zacks Investment Research upgraded shares of Deere & Company from a “hold” rating to a “strong-buy” rating and set a $202.00 price objective on the stock in a report on Tuesday, July 28th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. Deere & Company presently has an average rating of “Buy” and an average target price of $216.08.
About Deere & Company
Deere & Company, together with its subsidiaries, 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 provides various agriculture and turf equipment, and related service 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; tillage, seeding, and application equipment comprising sprayers, nutrient management, and soil preparation machinery; self-propelled forage harvesters and attachments, balers, and mowers; riding lawn equipment and walk-behind mowers, golf course equipment, utility vehicles, and commercial mowing equipment along with associated implements; integrated agricultural management systems technology and solutions; and other outdoor power products.
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