Glenview Trust Co trimmed its position in John Deere (NYSE:DE) by 3.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 32,120 shares of the industrial products company’s stock after selling 1,016 shares during the quarter. Glenview Trust Co’s holdings in John Deere were worth $4,988,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in DE. Earnest Partners LLC raised its stake in John Deere by 7.9% during the 1st quarter. Earnest Partners LLC now owns 69,365 shares of the industrial products company’s stock worth $10,774,000 after acquiring an additional 5,090 shares in the last quarter. Mariner LLC raised its stake in John Deere by 15.0% during the 1st quarter. Mariner LLC now owns 5,249 shares of the industrial products company’s stock worth $815,000 after acquiring an additional 685 shares in the last quarter. LPL Financial LLC raised its stake in John Deere by 32.3% during the 1st quarter. LPL Financial LLC now owns 93,377 shares of the industrial products company’s stock worth $14,503,000 after acquiring an additional 22,817 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. raised its stake in John Deere by 1.8% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 102,311 shares of the industrial products company’s stock worth $15,872,000 after acquiring an additional 1,814 shares in the last quarter. Finally, Spectrum Financial Alliance Ltd LLC acquired a new stake in John Deere during the 1st quarter worth $6,372,000. Institutional investors and hedge funds own 66.14% of the company’s stock.
DE has been the topic of several research analyst reports. Zacks Investment Research lowered shares of John Deere from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 24th. Robert W. Baird restated a “buy” rating and issued a $173.00 price objective on shares of John Deere in a research note on Friday, April 13th. Piper Jaffray Companies restated a “neutral” rating and issued a $160.00 price objective (up from $142.00) on shares of John Deere in a research note on Thursday, February 15th. UBS Group upgraded shares of John Deere from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $112.87 to $185.00 in a research note on Thursday, May 24th. Finally, Evercore ISI upgraded shares of John Deere from an “in-line” rating to an “outperform” rating in a research note on Monday, May 7th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and sixteen have assigned a buy rating to the stock. John Deere currently has an average rating of “Buy” and a consensus target price of $175.17.
John Deere (NYSE:DE) last issued its earnings results on Friday, May 18th. The industrial products company reported $3.14 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $3.33 by ($0.19). The firm had revenue of $9.75 billion during the quarter, compared to analysts’ expectations of $9.83 billion. John Deere had a net margin of 5.46% and a return on equity of 27.67%. The firm’s revenue was up 34.3% on a year-over-year basis. During the same period in the previous year, the firm earned $2.14 EPS. equities analysts predict that John Deere will post 9.66 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 1st. Stockholders of record on Friday, June 29th will be issued a $0.69 dividend. This is an increase from John Deere’s previous quarterly dividend of $0.60. The ex-dividend date is Thursday, June 28th. This represents a $2.76 annualized dividend and a dividend yield of 1.80%. John Deere’s payout ratio is presently 35.93%.
About John Deere
Deere & Company, together with its subsidiaries, manufactures and distributes agriculture and turf, and construction and forestry equipment worldwide. The company's Agriculture and Turf segment provides agriculture and turf equipment, and related service parts, including large, medium, and utility tractors; tractor loaders; combines, cotton pickers, cotton strippers, and sugarcane harvesters; related harvesting front-end equipment; sugarcane loaders and pull-behind scrapers; and tillage, seeding, and application equipment comprising sprayers, and nutrient management and soil preparation machinery.
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