Scotia Capital Inc. Has $3.98 Million Stock Holdings in Deere & Company (NYSE:DE)

Scotia Capital Inc. lessened its stake in shares of Deere & Company (NYSE:DE) by 0.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,987 shares of the industrial products company’s stock after selling 94 shares during the period. Scotia Capital Inc.’s holdings in Deere & Company were worth $3,975,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Fort Washington Investment Advisors Inc. OH boosted its position in shares of Deere & Company by 9.1% in the first quarter. Fort Washington Investment Advisors Inc. OH now owns 448,092 shares of the industrial products company’s stock valued at $71,623,000 after acquiring an additional 37,357 shares during the period. Rehmann Capital Advisory Group boosted its position in shares of Deere & Company by 11.3% in the first quarter. Rehmann Capital Advisory Group now owns 1,223 shares of the industrial products company’s stock valued at $195,000 after acquiring an additional 124 shares during the period. Clarius Group LLC boosted its position in shares of Deere & Company by 6.3% in the second quarter. Clarius Group LLC now owns 1,984 shares of the industrial products company’s stock valued at $329,000 after acquiring an additional 117 shares during the period. Buckingham Asset Management LLC lifted its position in Deere & Company by 6.4% in the second quarter. Buckingham Asset Management LLC now owns 3,766 shares of the industrial products company’s stock worth $624,000 after purchasing an additional 226 shares during the period. Finally, Nordea Investment Management AB lifted its position in Deere & Company by 24.6% in the first quarter. Nordea Investment Management AB now owns 66,866 shares of the industrial products company’s stock worth $10,690,000 after purchasing an additional 13,201 shares during the period. Institutional investors own 67.67% of the company’s stock.

In other news, COO John C. May II sold 16,468 shares of the firm’s stock in a transaction on Friday, June 21st. The stock was 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 in the company, valued at $9,882,365.50. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO John C. May II sold 5,228 shares of the firm’s stock in a transaction on Friday, July 26th. The shares were 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 owns 49,310 shares of the company’s stock, valued at $8,382,700. The disclosure for this sale can be found here. Company insiders own 0.71% of the company’s stock.



Several research analysts recently commented on DE shares. Stifel Nicolaus reduced their target price on Deere & Company from $180.00 to $171.00 and set a “buy” rating for the company in a research report on Monday, May 20th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $175.00 target price (down from $195.00) on shares of Deere & Company in a research report on Monday, May 27th. Credit Suisse Group reaffirmed an “outperform” rating and issued a $197.00 target price (up from $176.00) on shares of Deere & Company in a research report on Monday, August 19th. Vertical Research cut Deere & Company from a “buy” rating to a “hold” rating in a research report on Monday, May 20th. Finally, Jefferies Financial Group raised Deere & Company from a “hold” rating to a “buy” rating and raised their target price for the stock from $150.00 to $190.00 in a research report on Monday, June 24th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have issued a buy rating to the stock. Deere & Company has an average rating of “Hold” and a consensus price target of $166.89.

Shares of NYSE DE traded up $2.44 during midday trading on Friday, reaching $165.70. 66,199 shares of the company traded hands, compared to its average volume of 1,885,404. The firm has a market cap of $51.65 billion, a PE ratio of 17.66, a PEG ratio of 2.35 and a beta of 1.15. The stock’s 50-day simple moving average is $155.88 and its 200-day simple moving average is $157.52. Deere & Company has a 12 month low of $128.32 and a 12 month high of $171.22. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.73 and a current ratio of 1.99.

Deere & Company (NYSE:DE) last announced its earnings results on Friday, August 16th. The industrial products company reported $2.71 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.80 by ($0.09). Deere & Company had a net margin of 8.55% and a return on equity of 27.75%. The business had revenue of $8.97 billion during the quarter, compared to analyst estimates of $9.38 billion. During the same quarter last year, the business posted $2.59 earnings per share. The business’s quarterly revenue was down 3.4% compared to the same quarter last year. On average, equities research analysts expect that Deere & Company will post 9.98 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Monday, September 30th will be paid a $0.76 dividend. The ex-dividend date is Friday, September 27th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 1.83%. Deere & Company’s dividend payout ratio (DPR) is presently 32.37%.

Deere & Company Company Profile

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

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