Transcend Capital Advisors LLC Sells 216 Shares of Deere & Company (NYSE:DE)

Transcend Capital Advisors LLC lessened its stake in Deere & Company (NYSE:DEGet Rating) by 17.4% during the second quarter, Holdings Channel reports. The firm owned 1,027 shares of the industrial products company’s stock after selling 216 shares during the period. Transcend Capital Advisors LLC’s holdings in Deere & Company were worth $308,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Deere & Company by 0.9% in the first quarter. Vanguard Group Inc. now owns 21,678,757 shares of the industrial products company’s stock valued at $9,006,656,000 after purchasing an additional 194,170 shares in the last quarter. BlackRock Inc. lifted its holdings in Deere & Company by 4.0% during the first quarter. BlackRock Inc. now owns 18,243,075 shares of the industrial products company’s stock worth $7,579,271,000 after acquiring an additional 706,609 shares during the period. State Street Corp lifted its holdings in Deere & Company by 0.9% during the fourth quarter. State Street Corp now owns 11,613,684 shares of the industrial products company’s stock worth $3,994,236,000 after acquiring an additional 102,269 shares during the period. Wellington Management Group LLP lifted its holdings in Deere & Company by 3.9% during the first quarter. Wellington Management Group LLP now owns 6,344,147 shares of the industrial products company’s stock worth $2,635,740,000 after acquiring an additional 235,686 shares during the period. Finally, Parnassus Investments LLC lifted its holdings in Deere & Company by 1.2% during the first quarter. Parnassus Investments LLC now owns 3,606,635 shares of the industrial products company’s stock worth $1,498,413,000 after acquiring an additional 43,557 shares during the period. Institutional investors own 75.34% of the company’s stock.

Analysts Set New Price Targets

DE has been the topic of a number of recent analyst reports. Evercore ISI lifted their price target on Deere & Company from $416.00 to $439.00 in a report on Monday, August 22nd. Cowen dropped their price target on Deere & Company from $396.00 to $342.00 in a report on Thursday, July 7th. Wells Fargo & Company lifted their price target on Deere & Company from $410.00 to $423.00 and gave the stock an “overweight” rating in a report on Monday, August 22nd. Argus lifted their price target on Deere & Company from $390.00 to $420.00 and gave the stock a “buy” rating in a report on Wednesday, August 24th. Finally, Cowen decreased their target price on Deere & Company from $396.00 to $342.00 in a research report on Thursday, July 7th. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $407.68.

Insider Activity at Deere & Company

In related news, CAO Marc A. Howze sold 4,019 shares of Deere & Company stock in a transaction on Friday, September 9th. The stock was sold at an average price of $373.22, for a total transaction of $1,499,971.18. Following the completion of the sale, the chief accounting officer now owns 17,321 shares of the company’s stock, valued at $6,464,543.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.24% of the stock is owned by corporate insiders.

Deere & Company Price Performance

Shares of NYSE DE opened at $349.81 on Thursday. The stock has a market cap of $105.58 billion, a PE ratio of 17.48, a price-to-earnings-growth ratio of 1.25 and a beta of 1.06. Deere & Company has a fifty-two week low of $283.81 and a fifty-two week high of $446.76. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.68 and a current ratio of 1.97. The stock has a fifty day moving average of $350.68 and a 200-day moving average of $362.95.

Deere & Company (NYSE:DEGet Rating) last posted its quarterly earnings data on Friday, August 19th. The industrial products company reported $6.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.61 by ($0.45). The business had revenue of $13 billion for the quarter, compared to the consensus estimate of $12.84 billion. Deere & Company had a net margin of 12.75% and a return on equity of 33.26%. Deere & Company’s quarterly revenue was up 24.8% on a year-over-year basis. During the same period in the prior year, the business posted $5.32 EPS. Equities research analysts anticipate that Deere & Company will post 22.94 earnings per share for the current year.

Deere & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 8th. Investors of record on Friday, September 30th will be paid a dividend of $1.13 per share. This represents a $4.52 annualized dividend and a yield of 1.29%. The ex-dividend date of this dividend is Thursday, September 29th. Deere & Company’s dividend payout ratio is 22.59%.

About Deere & Company

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Deere & Company manufactures and distributes 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 mid-size tractors, combines, cotton pickers and strippers, sugarcane harvesters, harvesting front-end equipment, sugarcane loaders, 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.

See Also

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

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