California Public Employees Retirement System Sells 15,200 Shares of Deere & Company (DE)
California Public Employees Retirement System lowered its position in shares of Deere & Company (NYSE:DE) by 2.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 731,352 shares of the industrial products company’s stock after selling 15,200 shares during the period. California Public Employees Retirement System owned 0.23% of Deere & worth $90,388,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. raised its stake in Deere & by 2,432.6% in the 1st quarter. BlackRock Inc. now owns 16,715,452 shares of the industrial products company’s stock worth $1,819,643,000 after purchasing an additional 16,055,453 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Deere & by 8.2% during the 1st quarter. Vanguard Group Inc. now owns 20,440,278 shares of the industrial products company’s stock worth $2,225,128,000 after purchasing an additional 1,541,004 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of Deere & by 242.6% during the 2nd quarter. Principal Financial Group Inc. now owns 1,450,533 shares of the industrial products company’s stock worth $179,271,000 after purchasing an additional 1,027,175 shares in the last quarter. FMR LLC grew its position in shares of Deere & by 18.3% during the 2nd quarter. FMR LLC now owns 5,032,313 shares of the industrial products company’s stock worth $621,943,000 after purchasing an additional 777,519 shares in the last quarter. Finally, SG Americas Securities LLC grew its position in shares of Deere & by 107.6% during the 1st quarter. SG Americas Securities LLC now owns 44,868 shares of the industrial products company’s stock worth $4,884,000 after purchasing an additional 631,378 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.
In other news, insider Jean H. Gilles sold 8,015 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $129.99, for a total value 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 document filed with the SEC, which is available at this hyperlink. Also, insider Pentz Markwart Von sold 46,457 shares of the business’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $116.74, for a total transaction of $5,423,390.18. Following the completion of the sale, the insider now owns 47,165 shares of the company’s stock, valued at $5,506,042.10. The disclosure for this sale can be found here. Insiders sold a total of 116,023 shares of company stock valued at $14,185,962 over the last quarter. Company insiders own 0.75% of the company’s stock.
A number of equities research analysts have recently weighed in on the stock. ValuEngine upgraded shares of Deere & from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Deutsche Bank AG reissued a “hold” rating and set a $139.00 price target (up previously from $135.00) on shares of Deere & in a research report on Friday, August 11th. Jefferies Group LLC reissued a “hold” rating and set a $125.00 price target 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 note on Sunday, August 20th. Finally, Credit Suisse Group lowered Deere & from a “neutral” rating to an “outperform” rating in a research note on Tuesday, August 22nd. Three equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and ten have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $127.58.
Deere & Company (DE) opened at 128.10 on Wednesday. The stock has a 50 day moving average price of $120.06 and a 200 day moving average price of $119.64. The firm has a market cap of $41.16 billion, a P/E ratio of 21.28 and a beta of 0.69. Deere & Company has a 1-year low of $84.51 and a 1-year high of $132.50. Deere & also was the target of some unusual options trading on Monday. Stock traders bought 731 call options on the company. This is an increase of approximately 255% compared to the average volume of 206 call options.
Deere & (NYSE:DE) last released its quarterly earnings results on Friday, August 18th. The industrial products company reported $1.97 earnings per share for the quarter, beating 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 business had revenue of $6.83 billion for the quarter, compared to the consensus estimate of $6.92 billion. During the same quarter last year, the business posted $1.55 earnings per share. The company’s revenue for the quarter was up 16.6% on a year-over-year basis. On average, analysts anticipate that Deere & Company will post $6.52 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Friday, September 29th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date is Thursday, September 28th. Deere &’s payout ratio is currently 40.20%.
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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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