Dnca Finance Sells 17,370 Shares of Deere & Company $DE

Dnca Finance trimmed its holdings in Deere & Company (NYSE:DE) by 27.0% in the second quarter, Holdings Channel reports. The fund owned 46,980 shares of the industrial products company’s stock after selling 17,370 shares during the period. Deere & Company accounts for about 1.8% of Dnca Finance’s portfolio, making the stock its 16th biggest position. Dnca Finance’s holdings in Deere & Company were worth $23,889,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Deere & Company by 1.4% in the 2nd quarter. Vanguard Group Inc. now owns 22,372,671 shares of the industrial products company’s stock valued at $11,376,279,000 after buying an additional 309,081 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Deere & Company by 4.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,876,013 shares of the industrial products company’s stock worth $3,227,258,000 after acquiring an additional 286,253 shares during the period. Geode Capital Management LLC boosted its position in Deere & Company by 2.1% during the second quarter. Geode Capital Management LLC now owns 5,541,778 shares of the industrial products company’s stock worth $2,810,807,000 after purchasing an additional 111,627 shares during the period. Norges Bank acquired a new position in Deere & Company in the 2nd quarter valued at about $1,578,243,000. Finally, Fisher Asset Management LLC increased its stake in shares of Deere & Company by 10.1% during the second quarter. Fisher Asset Management LLC now owns 2,580,228 shares of the industrial products company’s stock worth $1,312,020,000 after purchasing an additional 236,406 shares during the period. Institutional investors own 68.58% of the company’s stock.

Insider Activity

In other Deere & Company news, CEO John C. May II sold 11,106 shares of Deere & Company stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $500.08, for a total value of $5,553,888.48. Following the completion of the sale, the chief executive officer directly owned 112,453 shares in the company, valued at approximately $56,235,496.24. The trade was a 8.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.29% of the stock is owned by corporate insiders.

Deere & Company Price Performance

Shares of NYSE:DE opened at $475.13 on Friday. Deere & Company has a one year low of $403.01 and a one year high of $533.78. The company has a debt-to-equity ratio of 1.68, a current ratio of 2.22 and a quick ratio of 2.01. The company has a market cap of $128.44 billion, a price-to-earnings ratio of 25.67, a PEG ratio of 1.75 and a beta of 1.00. The firm has a 50 day simple moving average of $467.81 and a 200 day simple moving average of $488.96.

Deere & Company (NYSE:DE) last posted its earnings results on Wednesday, November 26th. The industrial products company reported $3.93 earnings per share for the quarter, missing analysts’ consensus estimates of $3.96 by ($0.03). Deere & Company had a return on equity of 20.54% and a net margin of 11.00%.The business had revenue of $12.39 billion for the quarter, compared to the consensus estimate of $9.77 billion. During the same period in the previous year, the firm earned $4.55 earnings per share. The company’s revenue was up 14.1% compared to the same quarter last year. Research analysts predict that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 9th. Stockholders of record on Wednesday, December 31st will be paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Wednesday, December 31st. Deere & Company’s payout ratio is currently 35.01%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Zacks Research upgraded shares of Deere & Company from a “strong sell” rating to a “hold” rating in a research report on Wednesday. Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of Deere & Company in a research report on Monday, December 1st. Evercore ISI restated a “positive” rating on shares of Deere & Company in a research report on Friday, November 28th. Jefferies Financial Group dropped their price target on Deere & Company from $510.00 to $440.00 and set a “hold” rating for the company in a research note on Wednesday, October 8th. Finally, DA Davidson reiterated a “buy” rating and set a $580.00 price objective on shares of Deere & Company in a research note on Monday, December 1st. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $518.95.

Deere & Company Company Profile

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.