Iberiabank Corp lowered its holdings in shares of Deere & Company (NYSE:DE) by 18.3% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,961 shares of the industrial products company’s stock after selling 440 shares during the period. Iberiabank Corp’s holdings in Deere & Company were worth $308,000 as of its most recent filing with the SEC.
Other hedge funds have also made changes to their positions in the company. Geode Capital Management LLC lifted its stake in shares of Deere & Company by 1.0% in the 1st quarter. Geode Capital Management LLC now owns 4,336,612 shares of the industrial products company’s stock valued at $597,846,000 after acquiring an additional 44,733 shares during the last quarter. First Eagle Investment Management LLC raised its stake in shares of Deere & Company by 0.9% during the first quarter. First Eagle Investment Management LLC now owns 4,144,431 shares of the industrial products company’s stock valued at $572,595,000 after acquiring an additional 38,464 shares during the last quarter. Parnassus Investments CA grew its stake in shares of Deere & Company by 52.3% in the first quarter. Parnassus Investments CA now owns 3,684,560 shares of the industrial products company’s stock worth $509,059,000 after purchasing an additional 1,264,927 shares during the last quarter. Rothschild & Co Wealth Management UK Ltd grew its stake in shares of Deere & Company by 18.8% in the second quarter. Rothschild & Co Wealth Management UK Ltd now owns 2,443,902 shares of the industrial products company’s stock worth $384,059,000 after purchasing an additional 387,574 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in Deere & Company by 33.7% in the first quarter. Invesco Ltd. now owns 2,221,944 shares of the industrial products company’s stock valued at $306,983,000 after purchasing an additional 559,576 shares during the period. Institutional investors and hedge funds own 67.00% of the company’s stock.
Shares of NYSE DE opened at $176.31 on Friday. The company has a debt-to-equity ratio of 2.89, a current ratio of 2.20 and a quick ratio of 1.95. The company has a 50-day moving average price of $162.47 and a 200-day moving average price of $153.31. The stock has a market capitalization of $55.16 billion, a P/E ratio of 19.99, a P/E/G ratio of 4.05 and a beta of 0.95. Deere & Company has a 1 year low of $106.14 and a 1 year high of $181.99.
Deere & Company (NYSE:DE) last announced its quarterly earnings results on Friday, May 22nd. The industrial products company reported $2.11 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.62 by $0.49. The business had revenue of $8.22 billion for the quarter, compared to analysts’ expectations of $7.68 billion. Deere & Company had a net margin of 7.62% and a return on equity of 23.01%. The firm’s revenue for the quarter was down 19.9% compared to the same quarter last year. During the same quarter last year, the firm earned $3.52 EPS. As a group, equities research analysts anticipate that Deere & Company will post 6.22 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Tuesday, June 30th will be issued a $0.76 dividend. The ex-dividend date of this dividend is Monday, June 29th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 1.72%. Deere & Company’s dividend payout ratio is presently 30.58%.
In related news, insider Rajesh Kalathur sold 10,760 shares of Deere & Company stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $180.00, for a total transaction of $1,936,800.00. Following the transaction, the insider now owns 62,131 shares of the company’s stock, valued at $11,183,580. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.70% of the stock is owned by company insiders.
DE has been the subject of several analyst reports. William Blair upgraded shares of Deere & Company from a “market perform” rating to an “outperform” rating in a report on Thursday, May 28th. Robert W. Baird raised Deere & Company from a “neutral” rating to an “outperform” rating and set a $189.00 price objective on the stock in a research note on Monday, July 13th. Deutsche Bank upgraded Deere & Company to a “buy” rating and set a $186.00 target price for the company in a report on Tuesday, June 30th. Citigroup boosted their price target on Deere & Company from $155.00 to $165.00 and gave the company a “neutral” rating in a research note on Thursday, June 18th. Finally, Wells Fargo & Co reduced their price objective on shares of Deere & Company from $160.00 to $145.00 and set an “equal weight” rating for the company in a research report on Thursday, April 16th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $177.15.
Deere & Company 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.
Featured Story: Bollinger Bands
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.