World Asset Management Inc reduced its stake in shares of Deere & Company (NYSE:DE) by 10.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 22,629 shares of the industrial products company’s stock after selling 2,571 shares during the quarter. World Asset Management Inc’s holdings in Deere & Company were worth $3,750,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of DE. Dimensional Fund Advisors LP grew its position in Deere & Company by 4.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,123,218 shares of the industrial products company’s stock worth $167,531,000 after purchasing an additional 49,932 shares during the period. Geode Capital Management LLC grew its position in Deere & Company by 7.2% during the 4th quarter. Geode Capital Management LLC now owns 3,655,571 shares of the industrial products company’s stock worth $544,229,000 after purchasing an additional 244,266 shares during the period. Thrivent Financial for Lutherans grew its position in Deere & Company by 1.6% during the 4th quarter. Thrivent Financial for Lutherans now owns 15,986 shares of the industrial products company’s stock worth $2,386,000 after purchasing an additional 250 shares during the period. Macquarie Group Ltd. grew its position in Deere & Company by 18.9% during the 4th quarter. Macquarie Group Ltd. now owns 44,255 shares of the industrial products company’s stock worth $6,601,000 after purchasing an additional 7,047 shares during the period. Finally, Global Retirement Partners LLC grew its position in Deere & Company by 32.7% during the 4th quarter. Global Retirement Partners LLC now owns 1,208 shares of the industrial products company’s stock worth $180,000 after purchasing an additional 298 shares during the period. Institutional investors and hedge funds own 68.04% of the company’s stock.

Shares of NYSE:DE traded down $0.32 during trading on Monday, reaching $170.07. 72,146 shares of the company’s stock traded hands, compared to its average volume of 1,588,249. Deere & Company has a fifty-two week low of $128.32 and a fifty-two week high of $170.99. The company has a current ratio of 1.94, a quick ratio of 1.66 and a debt-to-equity ratio of 2.37. The stock has a market cap of $54.01 billion, a price-to-earnings ratio of 18.12, a PEG ratio of 2.10 and a beta of 1.12. The stock has a 50-day simple moving average of $161.48.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Friday, May 17th. The industrial products company reported $3.52 earnings per share for the quarter, missing the Zacks’ consensus estimate of $3.57 by ($0.05). The company had revenue of $10.27 billion during the quarter, compared to analysts’ expectations of $10.19 billion. Deere & Company had a net margin of 8.52% and a return on equity of 28.76%. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period in the prior year, the business posted $3.14 earnings per share. As a group, research analysts predict that Deere & Company will post 10.23 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Friday, June 28th will be paid a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date of this dividend is Thursday, June 27th. Deere & Company’s dividend payout ratio is presently 32.37%.

In related news, COO John C. May II sold 16,468 shares of the firm’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $163.21, for a total value of $2,687,742.28. Following the transaction, the chief operating officer now directly owns 60,550 shares of the company’s stock, valued at approximately $9,882,365.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.71% of the company’s stock.

Several equities research analysts have weighed in on the company. Stifel Nicolaus set a $73.00 price target on Expeditors International of Washington and gave the stock a “hold” rating in a research report on Monday, May 20th. Zacks Investment Research raised Hope Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, April 17th. Barclays set a $330.00 price target on Thermo Fisher Scientific and gave the stock a “buy” rating in a research report on Monday, July 15th. Royal Bank of Canada set a €475.00 ($552.33) price target on Rational and gave the stock a “sell” rating in a research report on Monday, May 20th. Finally, Vertical Research downgraded Deere & Company from a “buy” rating to a “hold” rating in a research report on Monday, May 20th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and thirteen have given a buy rating to the company. Deere & Company presently has an average rating of “Hold” and an average target price of $168.61.

Deere & Company Profile

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.

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Institutional Ownership by Quarter for Deere & Company (NYSE:DE)

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