British Airways Pensions Investment Management Ltd acquired a new position in Deere & Company (NYSE:DE) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 110,000 shares of the industrial products company’s stock, valued at approximately $13,587,000.
Several other large investors have also modified their holdings of the business. Pictet Asset Management Ltd. boosted its stake in shares of Deere & by 22.3% during the 2nd quarter. Pictet Asset Management Ltd. now owns 808,264 shares of the industrial products company’s stock worth $98,980,000 after purchasing an additional 147,626 shares during the period. Beach Investment Management LLC. bought a new stake in Deere & during the 2nd quarter valued at about $416,000. First Bank & Trust raised its holdings in shares of Deere & by 2.6% in the 2nd quarter. First Bank & Trust now owns 2,050 shares of the industrial products company’s stock valued at $253,000 after purchasing an additional 52 shares in the last quarter. Chicago Partners Investment Group LLC bought a new stake in shares of Deere & in the 2nd quarter valued at about $166,000. Finally, Retirement Systems of Alabama raised its holdings in shares of Deere & by 0.7% in the 2nd quarter. Retirement Systems of Alabama now owns 142,680 shares of the industrial products company’s stock valued at $17,634,000 after purchasing an additional 1,018 shares in the last quarter. 66.58% of the stock is owned by institutional investors and hedge funds.
Several research analysts recently commented on DE shares. Deutsche Bank AG boosted their price objective on shares of Deere & from $122.00 to $135.00 and gave the stock a “hold” rating in a research note on Monday, May 22nd. Goldman Sachs Group, Inc. (The) upgraded shares of Deere & from a “buy” rating to a “conviction-buy” rating and set a $129.75 target price for the company in a research note on Monday, August 7th. BidaskClub cut shares of Deere & from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 22nd. ValuEngine upgraded shares of Deere & from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Finally, TheStreet upgraded shares of Deere & from a “c+” rating to an “a-” rating in a research note on Friday, May 19th. 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’s stock. Deere & has a consensus rating of “Hold” and an average target price of $127.58.
Shares of Deere & Company (NYSE:DE) traded up 0.54% during midday trading on Friday, hitting $119.01. 6,627,120 shares of the company were exchanged. The company has a 50-day moving average price of $121.81 and a 200-day moving average price of $118.30. The stock has a market capitalization of $38.24 billion, a price-to-earnings ratio of 19.77 and a beta of 0.70. Deere & Company has a 52-week low of $81.89 and a 52-week high of $132.50.
Deere & (NYSE:DE) last released its quarterly earnings results on Friday, August 18th. The industrial products company reported $1.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.93 by $0.04. The business 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 business’s revenue was up 16.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.55 EPS. On average, analysts forecast that Deere & Company will post $6.52 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Friday, September 29th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 2.02%. The ex-dividend date is Thursday, September 28th. Deere &’s payout ratio is 40.20%.
In related news, insider Pentz Markwart Von sold 46,457 shares of the business’s stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $116.74, for a total value of $5,423,390.18. Following the completion of the transaction, the insider now owns 47,165 shares of the company’s stock, valued at approximately $5,506,042.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jean H. Gilles sold 8,015 shares of the business’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $129.99, for a total transaction of $1,041,869.85. Following the completion of the transaction, the insider now directly owns 70,635 shares of the company’s stock, valued at approximately $9,181,843.65. The disclosure for this sale can be found here. Insiders sold a total of 71,833 shares of company stock valued at $8,725,404 in the last three months. 0.85% of the stock is currently owned by corporate 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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