Nuveen Asset Management LLC Has $2.78 Million Stake in Deere & Company (NYSE:DE)

Nuveen Asset Management LLC cut its position in shares of Deere & Company (NYSE:DE) by 53.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 25,549 shares of the industrial products company’s stock after selling 29,137 shares during the period. Nuveen Asset Management LLC’s holdings in Deere & were worth $2,781,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of DE. BlackRock Inc. boosted its position in Deere & by 2,432.6% in the first quarter. BlackRock Inc. now owns 16,715,452 shares of the industrial products company’s stock valued at $1,819,643,000 after buying an additional 16,055,453 shares during the last quarter. Vanguard Group Inc. boosted its position in Deere & by 8.2% in the first quarter. Vanguard Group Inc. now owns 20,440,278 shares of the industrial products company’s stock valued at $2,225,128,000 after buying an additional 1,541,004 shares in the last quarter. SG Americas Securities LLC boosted its position in Deere & by 107.6% in the first quarter. SG Americas Securities LLC now owns 44,868 shares of the industrial products company’s stock valued at $4,884,000 after buying an additional 631,378 shares in the last quarter. First Eagle Investment Management LLC boosted its position in Deere & by 5.1% in the first quarter. First Eagle Investment Management LLC now owns 6,652,623 shares of the industrial products company’s stock valued at $724,205,000 after buying an additional 322,158 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in Deere & by 11.2% in the first quarter. Geode Capital Management LLC now owns 2,794,419 shares of the industrial products company’s stock valued at $303,767,000 after buying an additional 282,029 shares in the last quarter. Institutional investors own 67.91% of the company’s stock.

Deere & Company (NYSE DE) opened at 117.31 on Friday. The firm’s 50 day moving average price is $126.94 and its 200-day moving average price is $117.25. The stock has a market cap of $37.52 billion, a price-to-earnings ratio of 21.12 and a beta of 0.67. Deere & Company has a 52 week low of $80.35 and a 52 week high of $132.50.

Deere & (NYSE:DE) last released its quarterly earnings data on Friday, August 18th. The industrial products company reported $1.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.93 by $0.04. The business had revenue of $6.83 billion during the quarter, compared to analyst estimates of $6.92 billion. Deere & had a net margin of 6.52% and a return on equity of 24.85%. Deere &’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.55 EPS. Analysts expect that Deere & Company will post $6.42 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 1st. Stockholders of record on Friday, June 30th were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date was Wednesday, June 28th. Deere &’s dividend payout ratio is currently 43.24%.

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Several research analysts have recently issued reports on DE shares. TheStreet raised Deere & from a “c+” rating to an “a-” rating in a research report on Friday, May 19th. Credit Suisse Group set a $132.00 price objective on Deere & and gave the stock a “buy” rating in a research report on Saturday, May 20th. Stifel Nicolaus upped their price objective on Deere & from $126.00 to $135.00 and gave the stock a “buy” rating in a research report on Monday, May 22nd. Citigroup Inc. upped their price objective on Deere & from $125.00 to $145.00 and gave the stock a “buy” rating in a research report on Tuesday, May 23rd. Finally, Bank of America Corporation upped their price objective on Deere & from $130.00 to $145.00 and gave the stock a “buy” rating in a research report on Wednesday, May 24th. Three analysts have rated the stock with a sell rating, sixteen have issued a hold rating and ten have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $123.12.

In related news, insider Max A. Guinn sold 5,000 shares of the company’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $130.89, for a total value of $654,450.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Cory J. Reed sold 5,601 shares of the company’s stock in a transaction dated Thursday, May 25th. The shares were sold at an average price of $123.00, for a total transaction of $688,923.00. Following the completion of the sale, the insider now directly owns 10,568 shares in the company, valued at approximately $1,299,864. The disclosure for this sale can be found here. In the last three months, insiders sold 118,524 shares of company stock worth $14,960,467. 0.85% of the stock is currently owned by insiders.

About Deere &

Deere & Company is engaged in equipment operations. The Company is engaged in providing financial services. The Company operates through three business segments: agriculture and turf, construction and forestry, and financial services. The agriculture and turf segment manufactures and distributes a line of agriculture and turf equipment and related service parts.

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

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