Primecap Management Co. CA lowered its position in Deere & Company (NYSE:DE – Free Report) by 0.2% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 86,580 shares of the industrial products company’s stock after selling 200 shares during the period. Primecap Management Co. CA’s holdings in Deere & Company were worth $32,349,000 as of its most recent SEC filing.
Other large investors have also made changes to their positions in the company. Gilbert & Cook Inc. increased its holdings in Deere & Company by 5.4% during the 4th quarter. Gilbert & Cook Inc. now owns 1,978 shares of the industrial products company’s stock worth $791,000 after purchasing an additional 102 shares in the last quarter. 9258 Wealth Management LLC increased its holdings in Deere & Company by 9.8% during the 4th quarter. 9258 Wealth Management LLC now owns 1,975 shares of the industrial products company’s stock worth $790,000 after purchasing an additional 176 shares in the last quarter. Gryphon Financial Partners LLC increased its holdings in Deere & Company by 62.9% during the 4th quarter. Gryphon Financial Partners LLC now owns 1,430 shares of the industrial products company’s stock worth $551,000 after purchasing an additional 552 shares in the last quarter. Jump Financial LLC bought a new position in Deere & Company during the 4th quarter worth about $380,000. Finally, Great Lakes Advisors LLC increased its holdings in Deere & Company by 92.9% during the 4th quarter. Great Lakes Advisors LLC now owns 5,070 shares of the industrial products company’s stock worth $2,027,000 after purchasing an additional 2,442 shares in the last quarter. Institutional investors own 68.58% of the company’s stock.
Analysts Set New Price Targets
A number of equities analysts have issued reports on DE shares. Hsbc Global Res cut Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, August 19th. Citigroup lowered their target price on Deere & Company from $395.00 to $370.00 and set a “neutral” rating for the company in a report on Tuesday, August 13th. Morgan Stanley lowered their target price on Deere & Company from $450.00 to $425.00 and set an “overweight” rating for the company in a report on Monday, August 26th. HSBC cut Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, August 19th. Finally, Evercore ISI raised their price objective on Deere & Company from $371.00 to $378.00 and gave the company an “in-line” rating in a report on Monday, August 19th. Fourteen investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $409.88.
Deere & Company Trading Up 0.8 %
Shares of NYSE:DE opened at $397.91 on Wednesday. The company has a 50-day simple moving average of $373.48 and a 200 day simple moving average of $382.05. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.87 and a current ratio of 2.07. The company has a market capitalization of $109.65 billion, a P/E ratio of 11.98, a price-to-earnings-growth ratio of 1.29 and a beta of 0.92. Deere & Company has a 52-week low of $340.20 and a 52-week high of $417.46.
Deere & Company (NYSE:DE – Get Free Report) last issued its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.63 by $0.66. The firm had revenue of $11.39 billion during the quarter, compared to the consensus estimate of $10.94 billion. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The business’s revenue for the quarter was down 20.3% compared to the same quarter last year. During the same period last year, the business posted $10.20 earnings per share. Sell-side analysts forecast that Deere & Company will post 25.07 earnings per share for the current year.
Deere & Company Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Monday, September 30th will be given a dividend of $1.47 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $5.88 annualized dividend and a yield of 1.48%. Deere & Company’s dividend payout ratio (DPR) is presently 17.70%.
Insiders Place Their Bets
In other news, insider Cory J. Reed sold 13,370 shares of Deere & Company stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $377.63, for a total value of $5,048,913.10. Following the completion of the sale, the insider now directly owns 41,642 shares in the company, valued at $15,725,268.46. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.26% of the company’s stock.
Deere & Company Company Profile
Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.
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