Golub Group LLC lifted its holdings in Deere & Company (NYSE:DE) by 0.6% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 137,409 shares of the industrial products company’s stock after buying an additional 795 shares during the quarter. Deere & Company makes up 1.8% of Golub Group LLC’s portfolio, making the stock its 26th biggest position. Golub Group LLC’s holdings in Deere & Company were worth $23,178,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in DE. Northern Trust Corp grew its stake in shares of Deere & Company by 1.0% in the 2nd quarter. Northern Trust Corp now owns 3,925,592 shares of the industrial products company’s stock worth $650,510,000 after purchasing an additional 38,701 shares during the last quarter. Nuveen Asset Management LLC boosted its holdings in shares of Deere & Company by 20,513.8% in the second quarter. Nuveen Asset Management LLC now owns 3,147,721 shares of the industrial products company’s stock worth $521,609,000 after buying an additional 3,132,451 shares during the period. Janus Henderson Group PLC boosted its holdings in shares of Deere & Company by 1.2% in the second quarter. Janus Henderson Group PLC now owns 2,781,167 shares of the industrial products company’s stock worth $460,873,000 after buying an additional 31,940 shares during the period. Parnassus Investments CA acquired a new position in shares of Deere & Company in the second quarter worth about $392,652,000. Finally, Invesco Ltd. boosted its holdings in shares of Deere & Company by 12.1% in the second quarter. Invesco Ltd. now owns 1,923,679 shares of the industrial products company’s stock worth $318,773,000 after buying an additional 207,541 shares during the period. 67.48% of the stock is currently owned by institutional investors and hedge funds.
Shares of DE stock traded up $0.47 during trading on Friday, hitting $178.36. 1,676,855 shares of the company were exchanged, compared to its average volume of 2,024,434. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.73 and a current ratio of 1.99. The firm has a market capitalization of $56.34 billion, a price-to-earnings ratio of 18.99, a P/E/G ratio of 2.40 and a beta of 1.15. The business’s 50-day simple moving average is $170.60 and its 200 day simple moving average is $159.93. Deere & Company has a twelve month low of $132.68 and a twelve month high of $179.70.
Deere & Company (NYSE:DE) last posted its earnings results on Friday, August 16th. The industrial products company reported $2.71 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.80 by ($0.09). The business had revenue of $8.97 billion during the quarter, compared to analyst estimates of $9.38 billion. Deere & Company had a net margin of 8.55% and a return on equity of 27.75%. Deere & Company’s revenue was down 3.4% compared to the same quarter last year. During the same quarter last year, the firm earned $2.59 earnings per share. On average, equities analysts forecast that Deere & Company will post 9.96 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Monday, September 30th were paid a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date of this dividend was Friday, September 27th. Deere & Company’s dividend payout ratio (DPR) is presently 32.37%.
Several brokerages have commented on DE. Wells Fargo & Co cut shares of Deere & Company from an “outperform” rating to a “market perform” rating and set a $170.00 target price for the company. in a report on Thursday, September 12th. Bank of America decreased their target price on shares of Deere & Company from $185.00 to $175.00 and set a “buy” rating for the company in a report on Monday, August 19th. Credit Suisse Group reiterated an “outperform” rating and issued a $197.00 target price (up from $176.00) on shares of Deere & Company in a report on Monday, August 19th. Stephens began coverage on shares of Deere & Company in a report on Wednesday, August 14th. They issued an “equal weight” rating and a $160.00 target price for the company. Finally, UBS Group decreased their target price on shares of Deere & Company from $167.00 to $160.00 and set a “neutral” rating for the company in a report on Monday, August 19th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $169.21.
In other Deere & Company news, Chairman Samuel R. Allen sold 114,253 shares of Deere & Company stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $178.30, for a total value of $20,371,309.90. Following the completion of the sale, the chairman now directly owns 423,497 shares in the company, valued at $75,509,515.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.71% of the stock is owned by insiders.
Deere & 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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