Russell Investments Group Ltd. Lowers Stake in Deere & Company (DE)

Russell Investments Group Ltd. decreased its stake in shares of Deere & Company (NYSE:DE) by 23.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 250,935 shares of the industrial products company’s stock after selling 78,114 shares during the period. Russell Investments Group Ltd.’s holdings in Deere & Company were worth $37,768,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. BB&T Corp grew its position in Deere & Company by 2.0% in the second quarter. BB&T Corp now owns 45,800 shares of the industrial products company’s stock valued at $6,403,000 after purchasing an additional 919 shares in the last quarter. Gulf International Bank UK Ltd grew its position in Deere & Company by 13.5% in the second quarter. Gulf International Bank UK Ltd now owns 97,843 shares of the industrial products company’s stock valued at $13,678,000 after purchasing an additional 11,630 shares in the last quarter. Schwab Charles Investment Management Inc. grew its position in Deere & Company by 2.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,344,605 shares of the industrial products company’s stock valued at $187,976,000 after purchasing an additional 29,532 shares in the last quarter. Calamos Advisors LLC grew its position in Deere & Company by 2.5% in the second quarter. Calamos Advisors LLC now owns 70,217 shares of the industrial products company’s stock valued at $9,816,000 after purchasing an additional 1,708 shares in the last quarter. Finally, NumerixS Investment Technologies Inc grew its position in Deere & Company by 56.3% in the second quarter. NumerixS Investment Technologies Inc now owns 7,500 shares of the industrial products company’s stock valued at $1,046,000 after purchasing an additional 2,700 shares in the last quarter. 66.65% of the stock is owned by institutional investors.

NYSE DE opened at $135.44 on Thursday. The company has a quick ratio of 1.66, a current ratio of 1.91 and a debt-to-equity ratio of 2.59. The stock has a market cap of $42.71 billion, a PE ratio of 20.28, a P/E/G ratio of 2.46 and a beta of 0.87. Deere & Company has a 52-week low of $128.32 and a 52-week high of $175.26.



Deere & Company (NYSE:DE) last posted its earnings results on Friday, August 17th. The industrial products company reported $2.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.75 by ($0.16). The company had revenue of $9.29 billion for the quarter, compared to analyst estimates of $9.18 billion. Deere & Company had a return on equity of 28.51% and a net margin of 5.82%. The business’s quarterly revenue was up 35.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.97 EPS. As a group, equities research analysts expect that Deere & Company will post 9.51 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 1st. Stockholders of record on Friday, September 28th will be paid a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date of this dividend is Thursday, September 27th. Deere & Company’s dividend payout ratio is presently 41.32%.

DE has been the subject of a number of recent analyst reports. Zacks Investment Research cut shares of Deere & Company from a “hold” rating to a “sell” rating in a research note on Monday, October 22nd. UBS Group cut their price target on shares of Deere & Company from $185.00 to $177.00 and set a “buy” rating for the company in a research note on Friday, July 20th. OTR Global cut shares of Deere & Company to a “$139.21” rating in a research note on Wednesday, July 18th. Argus cut their price target on shares of Deere & Company to $160.00 and set a “buy” rating for the company in a research note on Monday, August 20th. Finally, Stifel Nicolaus cut their price target on shares of Deere & Company from $193.00 to $190.00 and set a “buy” rating for the company in a research note on Monday, August 20th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $177.75.

Deere & Company Profile

Deere & Company, together with its subsidiaries, manufactures and distributes agriculture and turf, and construction and forestry equipment worldwide. The company's Agriculture and Turf segment provides agriculture and turf equipment, and related service parts, including large, medium, and utility tractors; tractor loaders; combines, cotton pickers, cotton strippers, and sugarcane harvesters; related harvesting front-end equipment; sugarcane loaders and pull-behind scrapers; and tillage, seeding, and application equipment comprising sprayers, and nutrient management and soil preparation machinery.

Further Reading: Initial Public Offering (IPO)

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

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