BTIM Corp. increased its stake in Deere & Company (NYSE:DE) by 5.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 189,366 shares of the industrial products company’s stock after buying an additional 9,251 shares during the quarter. BTIM Corp. owned about 0.06% of Deere & Company worth $30,268,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Moloney Securities Asset Management LLC lifted its position in shares of Deere & Company by 9.1% during the fourth quarter. Moloney Securities Asset Management LLC now owns 2,072 shares of the industrial products company’s stock worth $309,000 after purchasing an additional 172 shares during the last quarter. Royal London Asset Management Ltd. bought a new stake in shares of Deere & Company during the fourth quarter worth $42,481,000. Private Trust Co. NA lifted its position in shares of Deere & Company by 6.5% during the first quarter. Private Trust Co. NA now owns 2,580 shares of the industrial products company’s stock worth $412,000 after purchasing an additional 158 shares during the last quarter. WP Advisors LLC bought a new stake in shares of Deere & Company during the first quarter worth $70,000. Finally, Roundview Capital LLC bought a new stake in shares of Deere & Company during the fourth quarter worth $254,000. Institutional investors own 68.25% of the company’s stock.
In related news, insider John C. May II sold 11,661 shares of Deere & Company stock in a transaction dated Thursday, January 17th. The stock was sold at an average price of $160.21, for a total value of $1,868,208.81. Following the completion of the sale, the insider now directly owns 55,743 shares in the company, valued at $8,930,586.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.71% of the company’s stock.
Deere & Company (NYSE:DE) last released its quarterly earnings data on Friday, February 15th. The industrial products company reported $1.54 earnings per share for the quarter, missing the consensus estimate of $1.76 by ($0.22). The firm had revenue of $6.94 billion during the quarter, compared to the consensus estimate of $6.83 billion. Deere & Company had a net margin of 8.85% and a return on equity of 28.83%. The business’s revenue was up 16.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.31 earnings per share. On average, analysts anticipate that Deere & Company will post 11.19 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, March 29th will be issued a $0.76 dividend. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $3.04 annualized dividend and a dividend yield of 1.85%. Deere & Company’s payout ratio is currently 32.37%.
Several analysts have recently weighed in on DE shares. Zacks Investment Research downgraded Deere & Company from a “buy” rating to a “hold” rating in a research report on Wednesday, January 23rd. Argus lifted their target price on Deere & Company to $175.00 and gave the stock a “buy” rating in a research report on Wednesday, February 20th. Bank of America downgraded Deere & Company from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $173.00 to $170.00 in a research report on Wednesday, February 13th. Credit Suisse Group reiterated a “buy” rating and set a $211.00 target price on shares of Deere & Company in a research report on Tuesday, January 8th. Finally, OTR Global upgraded Deere & Company to a “positive” rating in a research report on Friday, January 18th. Seven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $176.73.
COPYRIGHT VIOLATION NOTICE: This report was published by Community Financial News and is the sole property of of Community Financial News. If you are viewing this report on another website, it was copied illegally and reposted in violation of US and international trademark & copyright legislation. The original version of this report can be viewed at https://www.com-unik.info/2019/04/16/btim-corp-has-30-27-million-position-in-deere-company-de.html.
About Deere & Company
Deere & Company manufactures and distributes various equipment worldwide. The company operates through three segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment offers agriculture and turf equipment, and related parts, including large, medium, and utility tractors; tractor loaders; combines, cotton pickers, cotton strippers, and sugarcane harvesters; harvesting front-end equipment; sugarcane loaders and pull-behind scrapers; and tillage, seeding, and application equipment.
Read More: Tariff
Want to see what other hedge funds are holding DE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Deere & Company (NYSE:DE).
Receive News & Ratings for Deere & Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Deere & Company and related companies with MarketBeat.com's FREE daily email newsletter.