Deere & Company (DE) Stake Cut by Amica Pension Fund Board of Trustees

Amica Pension Fund Board of Trustees cut its stake in Deere & Company (NYSE:DE) by 65.9% during the first quarter, according to its most recent disclosure with the SEC. The firm owned 10,795 shares of the industrial products company’s stock after selling 20,888 shares during the period. Amica Pension Fund Board of Trustees’ holdings in Deere & Company were worth $1,175,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of DE. Wedge Capital Management L L P NC boosted its stake in shares of Deere & Company by 4.0% in the first quarter. Wedge Capital Management L L P NC now owns 100,556 shares of the industrial products company’s stock valued at $10,947,000 after buying an additional 3,888 shares during the period. OLD National Bancorp IN boosted its stake in shares of Deere & Company by 6.1% in the first quarter. OLD National Bancorp IN now owns 11,403 shares of the industrial products company’s stock valued at $1,241,000 after buying an additional 654 shares during the period. Appleton Partners Inc. MA purchased a new position in shares of Deere & Company during the first quarter valued at approximately $211,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in shares of Deere & Company by 4.2% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 43,342 shares of the industrial products company’s stock valued at $4,718,000 after buying an additional 1,761 shares during the last quarter. Finally, Advisory Services Network LLC purchased a new position in shares of Deere & Company during the first quarter valued at approximately $347,000. Institutional investors and hedge funds own 67.82% of the company’s stock.

Institutional Ownership by Quarter for Deere & Company (NYSE:DE)

Shares of Deere & Company (NYSE:DE) opened at 127.90 on Friday. Deere & Company has a 1-year low of $76.73 and a 1-year high of $128.21. The stock has a 50 day moving average of $119.40 and a 200-day moving average of $110.34. The company has a market capitalization of $40.91 billion, a price-to-earnings ratio of 23.02 and a beta of 0.71. Deere & Company also was the recipient of unusually large options trading activity on Wednesday. Stock investors purchased 24,453 call options on the stock. This represents an increase of approximately 276% compared to the average volume of 6,500 call options.

Deere & Company (NYSE:DE) last issued its earnings results on Friday, May 19th. The industrial products company reported $2.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.70 by $0.79. Deere & Company had a net margin of 6.52% and a return on equity of 24.85%. The firm had revenue of $7.26 billion for the quarter, compared to analysts’ expectations of $7.27 billion. During the same quarter last year, the business earned $1.56 earnings per share. The business’s revenue was up 2.2% on a year-over-year basis. Analysts forecast that Deere & Company will post $6.29 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 1st. Stockholders of record on Friday, June 30th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 1.88%. The ex-dividend date is Wednesday, June 28th. Deere & Company’s dividend payout ratio is 43.24%.

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DE has been the subject of several analyst reports. Vetr cut shares of Deere & Company from a “hold” rating to a “sell” rating and set a $105.02 target price for the company. in a research report on Friday, February 17th. Credit Suisse Group set a $132.00 target price on shares of Deere & Company and gave the company a “buy” rating in a research report on Friday, February 17th. Barclays PLC set a $80.00 target price on shares of Deere & Company and gave the company a “sell” rating in a research report on Sunday, February 19th. Royal Bank of Canada restated a “hold” rating and issued a $109.00 target price on shares of Deere & Company in a research report on Tuesday, February 21st. Finally, Wells Fargo & Company restated an “outperform” rating and issued a $124.50 target price (up from $121.50) on shares of Deere & Company in a research report on Tuesday, February 21st. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $121.20.

In related news, VP Marc A. Howze sold 6,624 shares of Deere & Company stock in a transaction on Friday, May 19th. The shares were sold at an average price of $119.59, for a total value of $792,164.16. Following the sale, the vice president now owns 9,004 shares in the company, valued at $1,076,788.36. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Cory J. Reed sold 5,601 shares of Deere & Company stock in a transaction on Thursday, May 25th. The shares were sold at an average price of $123.00, for a total transaction of $688,923.00. Following the completion of the sale, the insider now owns 10,568 shares in the company, valued at approximately $1,299,864. The disclosure for this sale can be found here. Insiders sold 100,676 shares of company stock worth $12,517,215 in the last 90 days. Company insiders own 0.85% of the company’s stock.

About Deere & Company

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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