Shelter Mutual Insurance Co lessened its stake in Deere & Company (NYSE:DE) by 8.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 49,480 shares of the industrial products company’s stock after selling 4,720 shares during the quarter. Deere & Company comprises about 2.3% of Shelter Mutual Insurance Co’s holdings, making the stock its 15th largest holding. Shelter Mutual Insurance Co’s holdings in Deere & Company were worth $8,199,000 as of its most recent filing with the SEC.
Several other large investors also recently bought and sold shares of DE. Private Ocean LLC grew its stake in shares of Deere & Company by 560.0% in the first quarter. Private Ocean LLC now owns 198 shares of the industrial products company’s stock valued at $32,000 after buying an additional 168 shares in the last quarter. Arcus Capital Partners LLC acquired a new stake in shares of Deere & Company in the second quarter valued at $33,000. Orrstown Financial Services Inc. grew its stake in shares of Deere & Company by 116.0% in the second quarter. Orrstown Financial Services Inc. now owns 216 shares of the industrial products company’s stock valued at $36,000 after buying an additional 116 shares in the last quarter. Field & Main Bank acquired a new stake in shares of Deere & Company in the first quarter valued at $40,000. Finally, Nelson Roberts Investment Advisors LLC grew its stake in shares of Deere & Company by 34.8% in the second quarter. Nelson Roberts Investment Advisors LLC now owns 271 shares of the industrial products company’s stock valued at $45,000 after buying an additional 70 shares in the last quarter. 67.85% of the stock is owned by hedge funds and other institutional investors.
In other news, COO John C. May II sold 5,228 shares of the business’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $170.00, for a total value of $888,760.00. Following the completion of the sale, the chief operating officer now directly owns 49,310 shares of the company’s stock, valued at approximately $8,382,700. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO John C. May II sold 16,468 shares of the business’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $163.21, for a total value of $2,687,742.28. Following the completion of the sale, the chief operating officer now directly owns 60,550 shares of the company’s stock, valued at $9,882,365.50. The disclosure for this sale can be found here. 0.71% of the stock is owned by insiders.
Deere & Company (NYSE:DE) last announced its quarterly earnings results on Friday, May 17th. The industrial products company reported $3.52 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $3.57 by ($0.05). The business had revenue of $10.27 billion for the quarter, compared to analysts’ expectations of $10.19 billion. Deere & Company had a return on equity of 28.76% and a net margin of 8.52%. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period last year, the firm earned $3.14 earnings per share. As a group, research analysts anticipate that Deere & Company will post 10.22 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Friday, June 28th were issued a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date of this dividend was Thursday, June 27th. Deere & Company’s dividend payout ratio (DPR) is 32.37%.
A number of research firms recently issued reports on DE. Berenberg Bank began coverage on Deere & Company in a report on Thursday, May 9th. They issued a “hold” rating for the company. Zacks Investment Research lowered Deere & Company from a “hold” rating to a “sell” rating in a report on Wednesday, April 17th. UBS Group lowered Deere & Company from a “buy” rating to a “neutral” rating and lifted their target price for the company from $158.00 to $167.00 in a report on Wednesday, July 10th. Barclays reiterated a “buy” rating and issued a $167.00 target price on shares of Deere & Company in a report on Monday, July 15th. Finally, Bank of America upgraded Deere & Company from a “neutral” rating to a “buy” rating and set a $185.00 target price for the company in a report on Monday, July 15th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and thirteen have given a buy rating to the stock. Deere & Company currently has a consensus rating of “Hold” and an average price target of $167.21.
About Deere & Company
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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