ETF Managers Group LLC increased its position in shares of Deere & Company (NYSE:DE – Free Report) by 1.5% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,746 shares of the industrial products company’s stock after purchasing an additional 26 shares during the quarter. ETF Managers Group LLC’s holdings in Deere & Company were worth $721,000 as of its most recent filing with the SEC.
Several other large investors have also recently made changes to their positions in DE. RB Capital Management LLC increased its position in shares of Deere & Company by 5.2% during the first quarter. RB Capital Management LLC now owns 1,637 shares of the industrial products company’s stock worth $680,000 after purchasing an additional 81 shares in the last quarter. Bornite Capital Management LP purchased a new stake in shares of Deere & Company during the first quarter worth approximately $14,541,000. Retirement Income Solutions Inc purchased a new stake in shares of Deere & Company during the first quarter worth approximately $229,000. Sequoia Financial Advisors LLC grew its holdings in Deere & Company by 27.1% in the 1st quarter. Sequoia Financial Advisors LLC now owns 2,442 shares of the industrial products company’s stock valued at $1,014,000 after buying an additional 521 shares in the last quarter. Finally, Baird Financial Group Inc. grew its holdings in Deere & Company by 32.4% in the 1st quarter. Baird Financial Group Inc. now owns 114,322 shares of the industrial products company’s stock valued at $47,496,000 after buying an additional 27,985 shares in the last quarter. 71.33% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
DE has been the subject of several analyst reports. StockNews.com cut Deere & Company from a “buy” rating to a “hold” rating in a report on Friday, June 16th. Wells Fargo & Company dropped their target price on Deere & Company from $510.00 to $490.00 in a report on Monday, May 22nd. Deutsche Bank Aktiengesellschaft dropped their target price on Deere & Company from $440.00 to $392.00 in a report on Monday, May 22nd. Citigroup dropped their target price on Deere & Company from $505.00 to $460.00 in a report on Tuesday, May 23rd. Finally, Oppenheimer lowered their price target on Deere & Company from $492.00 to $436.00 in a report on Monday, May 22nd. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $446.64.
Deere & Company Price Performance
Deere & Company (NYSE:DE – Free Report) last posted its quarterly earnings results on Friday, May 19th. The industrial products company reported $9.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.57 by $1.08. The company had revenue of $16.08 billion for the quarter, compared to analyst estimates of $14.87 billion. Deere & Company had a return on equity of 43.11% and a net margin of 15.00%. Deere & Company’s revenue for the quarter was up 33.6% compared to the same quarter last year. During the same quarter last year, the company earned $6.81 EPS. Analysts anticipate that Deere & Company will post 31.91 earnings per share for the current fiscal year.
Deere & Company Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 8th. Stockholders of record on Friday, June 30th will be issued a $1.25 dividend. The ex-dividend date is Thursday, June 29th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.24%. Deere & Company’s payout ratio is currently 16.78%.
Insider Activity
In other news, insider Pentz Markwart Von sold 7,110 shares of the stock in a transaction dated Friday, May 26th. The stock was sold at an average price of $356.69, for a total value of $2,536,065.90. Following the transaction, the insider now owns 57,115 shares in the company, valued at approximately $20,372,349.35. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO John C. May II sold 52,967 shares of the firm’s stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $416.02, for a total transaction of $22,035,331.34. Following the transaction, the chief executive officer now owns 109,126 shares in the company, valued at approximately $45,398,598.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Pentz Markwart Von sold 7,110 shares of the firm’s stock in a transaction that occurred on Friday, May 26th. The stock was sold at an average price of $356.69, for a total value of $2,536,065.90. Following the transaction, the insider now owns 57,115 shares in the company, valued at approximately $20,372,349.35. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 88,010 shares of company stock worth $35,230,351. 0.26% of the stock is currently owned by insiders.
Deere & Company Profile
Deere & Company manufactures and distributes various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides mid-size tractors, combines, cotton pickers and strippers, sugarcane harvesters, harvesting front-end equipment, sugarcane loaders, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.
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