Clarius Group LLC cut its holdings in shares of Deere & Company (NYSE:DE – Free Report) by 5.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,810 shares of the industrial products company’s stock after selling 175 shares during the quarter. Clarius Group LLC’s holdings in Deere & Company were worth $1,139,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in DE. Northwest Bancshares Inc. grew its stake in shares of Deere & Company by 2.2% in the second quarter. Northwest Bancshares Inc. now owns 1,082 shares of the industrial products company’s stock valued at $438,000 after buying an additional 23 shares in the last quarter. Byrne Asset Management LLC grew its position in shares of Deere & Company by 0.9% in the 2nd quarter. Byrne Asset Management LLC now owns 2,719 shares of the industrial products company’s stock valued at $1,102,000 after buying an additional 24 shares during the last quarter. REDW Wealth LLC lifted its holdings in shares of Deere & Company by 2.3% in the 2nd quarter. REDW Wealth LLC now owns 1,052 shares of the industrial products company’s stock valued at $426,000 after purchasing an additional 24 shares during the last quarter. Grandfield & Dodd LLC grew its position in shares of Deere & Company by 1.7% during the second quarter. Grandfield & Dodd LLC now owns 1,453 shares of the industrial products company’s stock worth $589,000 after acquiring an additional 24 shares during the last quarter. Finally, Summit X LLC raised its stake in Deere & Company by 1.3% during the 2nd quarter. Summit X LLC now owns 1,802 shares of the industrial products company’s stock valued at $731,000 after acquiring an additional 24 shares during the last quarter. Institutional investors and hedge funds own 66.27% of the company’s stock.
Insider Activity at Deere & Company
In other news, insider Ryan D. Campbell sold 6,073 shares of Deere & Company stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $379.19, for a total transaction of $2,302,820.87. Following the completion of the sale, the insider now owns 18,519 shares of the company’s stock, valued at $7,022,219.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.26% of the stock is owned by company insiders.
Deere & Company Trading Down 0.2 %
Deere & Company (NYSE:DE – Get Free Report) last released its earnings results on Friday, August 18th. The industrial products company reported $10.20 earnings per share for the quarter, beating analysts’ consensus estimates of $8.22 by $1.98. The business had revenue of $14.28 billion during the quarter, compared to the consensus estimate of $14.14 billion. Deere & Company had a net margin of 16.36% and a return on equity of 46.15%. The firm’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same quarter last year, the firm earned $6.16 earnings per share. On average, sell-side analysts expect that Deere & Company will post 33.96 earnings per share for the current fiscal year.
Deere & Company Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, November 8th. Investors of record on Friday, September 29th were issued a dividend of $1.35 per share. This is an increase from Deere & Company’s previous quarterly dividend of $1.25. The ex-dividend date was Thursday, September 28th. This represents a $5.40 annualized dividend and a dividend yield of 1.42%. Deere & Company’s payout ratio is presently 15.96%.
Analysts Set New Price Targets
Several brokerages recently commented on DE. DA Davidson raised their price objective on shares of Deere & Company from $492.00 to $510.00 and gave the company a “buy” rating in a research note on Tuesday, July 25th. Stifel Nicolaus reduced their price objective on Deere & Company from $493.00 to $460.00 and set a “buy” rating on the stock in a research note on Monday, August 21st. Canaccord Genuity Group lowered Deere & Company from a “buy” rating to a “hold” rating and reduced their price target for the stock from $530.00 to $400.00 in a research report on Friday, September 22nd. Bank of America cut their target price on Deere & Company from $455.00 to $422.50 in a research report on Wednesday, October 11th. Finally, UBS Group upped their price target on Deere & Company from $383.00 to $408.00 and gave the company a “neutral” rating in a research report on Monday, August 21st. Eight analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $447.93.
Deere & Company Company Profile
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.
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