Cubist Systematic Strategies LLC reduced its stake in shares of Deere & Company (NYSE:DE) by 31.6% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 23,446 shares of the industrial products company’s stock after selling 10,820 shares during the period. Cubist Systematic Strategies LLC’s holdings in Deere & were worth $2,898,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of Deere & by 5.6% during 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 in the last quarter. BlackRock Inc. boosted its position in shares of Deere & by 2.5% during 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 in the last quarter. State Street Corp boosted its position in shares of Deere & by 0.4% during 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 in the last quarter. Capital International Investors boosted its position in shares of Deere & by 14.4% during 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 in the last quarter. Finally, Loomis Sayles & Co. L P boosted its position in shares of Deere & by 0.5% during the 1st quarter. Loomis Sayles & Co. L P now owns 5,860,666 shares of the industrial products company’s stock worth $637,992,000 after purchasing an additional 26,303 shares in the last quarter. Institutional investors own 66.17% of the company’s stock.
DE has been the topic of several research analyst reports. ValuEngine upgraded shares of Deere & from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Deutsche Bank AG restated a “hold” rating and set a $139.00 target price (up from $135.00) on shares of Deere & in a research report on Friday, August 11th. Jefferies Group LLC restated a “hold” rating and set a $125.00 target price on shares of Deere & in a research report on Wednesday, August 9th. Goldman Sachs Group, Inc. (The) restated a “buy” rating on shares of Deere & in a research report on Sunday, August 20th. Finally, Credit Suisse Group lowered shares of Deere & from a “neutral” rating to an “outperform” rating in a research report on Tuesday, August 22nd. Three equities research 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. Deere & has a consensus rating of “Hold” and a consensus price target of $127.97.
Deere & (NYSE:DE) last announced its quarterly earnings data on Friday, August 18th. The industrial products company reported $1.97 EPS for the quarter, topping the Zacks’ consensus estimate of $1.93 by $0.04. Deere & had a return on equity of 25.96% and a net margin of 6.81%. The firm had revenue of $6.83 billion during the quarter, compared to analyst estimates of $6.92 billion. During the same period last year, the company posted $1.55 EPS. The business’s quarterly revenue was up 16.6% compared to the same quarter last year. Analysts forecast that Deere & Company will post $6.52 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Friday, September 29th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $2.40 dividend on an annualized basis and a yield of 1.87%. Deere &’s payout ratio is presently 40.20%.
In other Deere & news, insider Jean H. Gilles sold 8,015 shares of the firm’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $129.99, for a total transaction of $1,041,869.85. Following the completion of the sale, the insider now directly owns 70,635 shares in the company, valued at approximately $9,181,843.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Max A. Guinn sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $130.89, for a total value of $654,450.00. The disclosure for this sale can be found here. Insiders have sold a total of 116,023 shares of company stock valued at $14,185,962 over the last 90 days. Corporate insiders own 0.85% of the company’s stock.
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Deere & Company Profile
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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