Flinton Capital Management LLC decreased its stake in shares of Deere & Company (NYSE:DE) by 4.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,856 shares of the industrial products company’s stock after selling 176 shares during the period. Flinton Capital Management LLC’s holdings in Deere & were worth $477,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in shares of Deere & by 5.6% in the 2nd quarter. Vanguard Group Inc. now owns 21,593,762 shares of the industrial products company’s stock worth $2,668,774,000 after purchasing an additional 1,153,484 shares during the last quarter. BlackRock Inc. grew its stake in shares of Deere & by 2.5% in the 2nd quarter. BlackRock Inc. now owns 17,125,313 shares of the industrial products company’s stock worth $2,116,517,000 after purchasing an additional 409,861 shares during the last quarter. State Street Corp grew its stake in shares of Deere & by 0.4% in the 1st quarter. State Street Corp now owns 12,267,999 shares of the industrial products company’s stock worth $1,335,500,000 after purchasing an additional 45,695 shares during the last quarter. First Eagle Investment Management LLC grew its stake in shares of Deere & by 5.1% in the 1st quarter. First Eagle Investment Management LLC now owns 6,652,623 shares of the industrial products company’s stock worth $724,205,000 after purchasing an additional 322,158 shares during the last quarter. Finally, Capital International Investors grew its stake in shares of Deere & by 14.4% in the 2nd quarter. Capital International Investors now owns 6,506,943 shares of the industrial products company’s stock worth $804,193,000 after purchasing an additional 820,991 shares during the last quarter. 66.17% of the stock is currently owned by hedge funds and other institutional investors.
DE has been the topic of several recent research reports. BidaskClub cut shares of Deere & from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 22nd. Goldman Sachs Group, Inc. (The) initiated coverage on shares of Deere & in a research note on Tuesday, August 8th. They issued a “buy” rating on the stock. Credit Suisse Group set a $148.00 price objective on shares of Deere & and gave the stock a “buy” rating in a research note on Friday, August 18th. Argus reaffirmed a “buy” rating and issued a $140.00 price objective on shares of Deere & in a research note on Tuesday, August 22nd. Finally, Stifel Nicolaus set a $135.00 price objective on shares of Deere & and gave the stock a “buy” rating in a research note on Wednesday, August 23rd. Three investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and ten have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $127.45.
Deere & (NYSE:DE) last released its quarterly earnings data on Friday, August 18th. The industrial products company reported $1.97 EPS for the quarter, beating the consensus estimate of $1.93 by $0.04. The company had revenue of $6.83 billion during the quarter, compared to the consensus estimate of $6.92 billion. Deere & had a return on equity of 25.96% and a net margin of 6.81%. The firm’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.55 EPS. On average, analysts forecast that Deere & Company will post $6.52 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Friday, September 29th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 1.87%. The ex-dividend date is Thursday, September 28th. Deere &’s payout ratio is presently 40.20%.
In other news, insider Pentz Markwart Von sold 46,457 shares of the stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $116.74, for a total value of $5,423,390.18. Following the completion of the sale, the insider now owns 47,165 shares of the company’s stock, valued at approximately $5,506,042.10. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jean H. Gilles sold 12,361 shares of the stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $129.90, for a total value of $1,605,693.90. Following the completion of the sale, the insider now directly owns 74,981 shares of the company’s stock, valued at approximately $9,740,031.90. The disclosure for this sale can be found here. In the last three months, insiders sold 116,023 shares of company stock valued at $14,185,962. 0.75% of the stock is currently owned by insiders.
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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.
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