NBT Bank N A NY trimmed its stake in Deere & Company (NYSE:DE) by 3.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,004 shares of the industrial products company’s stock after selling 661 shares during the quarter. NBT Bank N A NY’s holdings in Deere & were worth $2,101,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Advisory Services Network LLC purchased a new stake in shares of Deere & during the 1st quarter valued at approximately $347,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its stake in shares of Deere & by 4.2% during the 1st 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 in the last quarter. Appleton Partners Inc. MA purchased a new stake in shares of Deere & during the 1st quarter valued at approximately $211,000. OLD National Bancorp IN lifted its stake in shares of Deere & by 6.1% during the 1st 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 in the last quarter. Finally, Wedge Capital Management L L P NC lifted its stake in shares of Deere & by 4.0% during the 1st 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 in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.
Deere & Company (NYSE DE) opened at 123.08 on Wednesday. Deere & Company has a 12-month low of $82.33 and a 12-month high of $132.50. The company’s 50 day moving average is $121.41 and its 200 day moving average is $118.58. The company has a market cap of $39.55 billion, a price-to-earnings ratio of 20.44 and a beta of 0.70. Deere & also was the recipient of unusually large options trading activity on Monday. Stock traders bought 731 call options on the stock. This is an increase of approximately 255% compared to the average volume of 206 call options.
Deere & (NYSE:DE) last released its earnings results on Friday, August 18th. The industrial products company reported $1.97 EPS for the quarter, topping the consensus estimate of $1.93 by $0.04. Deere & had a net margin of 6.81% and a return on equity of 25.96%. The firm had revenue of $6.83 billion for the quarter, compared to the consensus estimate of $6.92 billion. During the same quarter in the previous year, the firm earned $1.55 earnings per share. The company’s quarterly revenue was up 16.6% compared to the same quarter last year. Analysts forecast that Deere & Company will post $6.52 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Friday, September 29th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 1.95%. The ex-dividend date is Thursday, September 28th. Deere &’s dividend payout ratio is presently 40.20%.
A number of brokerages recently commented on DE. Jefferies Group LLC restated a “hold” rating and set a $125.00 price target on shares of Deere & in a research note on Wednesday, August 9th. Barclays PLC set a $100.00 price target on shares of Deere & and gave the company a “sell” rating in a research note on Sunday, June 4th. Credit Suisse Group set a $151.00 price target on shares of Deere & and gave the company a “buy” rating in a research note on Saturday, June 3rd. Deutsche Bank AG restated a “hold” rating and set a $139.00 price target (up from $135.00) on shares of Deere & in a research note on Friday, August 11th. Finally, BMO Capital Markets restated an “outperform” rating and set a $150.00 price target (up from $140.00) on shares of Deere & in a research note on Wednesday, August 16th. Three investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and ten have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $127.58.
In related news, insider Jean H. Gilles sold 8,015 shares of the business’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $129.99, for a total value of $1,041,869.85. Following the sale, the insider now owns 70,635 shares in the company, valued at $9,181,843.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Max A. Guinn sold 5,000 shares of the business’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $130.89, for a total transaction of $654,450.00. The disclosure for this sale can be found here. Insiders sold 93,928 shares of company stock worth $11,379,013 in the last 90 days. 0.75% of the stock is currently owned by company insiders.
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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