Boston Advisors LLC lowered its position in shares of Deere & Co. (NYSE:DE) by 0.5% during the second quarter, Holdings Channel reports. The fund owned 188,618 shares of the company’s stock after selling 854 shares during the period. Boston Advisors LLC’s holdings in Deere & Co. were worth $15,286,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of the stock. State Street Corp increased its stake in shares of Deere & Co. by 0.3% in the first quarter. State Street Corp now owns 12,081,309 shares of the company’s stock worth $930,132,000 after buying an additional 38,519 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of Deere & Co. by 5.8% in the first quarter. Franklin Resources Inc. now owns 5,868,440 shares of the company’s stock worth $451,811,000 after buying an additional 319,614 shares during the last quarter. Primecap Management Co. CA increased its stake in shares of Deere & Co. by 19.3% in the first quarter. Primecap Management Co. CA now owns 5,286,519 shares of the company’s stock worth $407,009,000 after buying an additional 856,000 shares during the last quarter. Legal & General Group Plc increased its stake in shares of Deere & Co. by 0.3% in the first quarter. Legal & General Group Plc now owns 1,436,384 shares of the company’s stock worth $110,619,000 after buying an additional 3,974 shares during the last quarter. Finally, Thomaspartners Inc. increased its stake in shares of Deere & Co. by 4.3% in the first quarter. Thomaspartners Inc. now owns 1,343,887 shares of the company’s stock worth $103,466,000 after buying an additional 55,848 shares during the last quarter. 70.62% of the stock is owned by institutional investors.
Deere & Co. (NYSE:DE) traded down 0.97% during midday trading on Friday, hitting $83.34. The stock had a trading volume of 2,561,257 shares. Deere & Co. has a 1-year low of $70.16 and a 1-year high of $88.63. The company has a market capitalization of $26.20 billion, a PE ratio of 16.70 and a beta of 1.05. The stock’s 50-day moving average is $82.47 and its 200-day moving average is $81.77.
Deere & Co. (NYSE:DE) last posted its quarterly earnings data on Friday, August 19th. The company reported $1.55 EPS for the quarter, topping the consensus estimate of $0.94 by $0.61. The firm earned $6.72 billion during the quarter. Deere & Co. had a return on equity of 22.73% and a net margin of 5.92%. The company’s revenue for the quarter was down 14.3% on a year-over-year basis. During the same quarter last year, the company earned $1.53 earnings per share. Equities research analysts forecast that Deere & Co. will post $4.30 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Friday, September 30th will be paid a $0.60 dividend. The ex-dividend date is Wednesday, September 28th. This represents a $2.40 dividend on an annualized basis and a yield of 2.88%. Deere & Co.’s payout ratio is presently 48.10%.
DE has been the subject of a number of research analyst reports. Piper Jaffray Cos. increased their price target on Deere & Co. from $67.00 to $70.00 and gave the company an “underweight” rating in a research report on Monday, August 22nd. Vetr downgraded Deere & Co. from a “hold” rating to a “sell” rating and set a $77.39 target price for the company. in a research report on Monday, July 11th. Argus raised their target price on Deere & Co. from $90.00 to $98.00 and gave the stock a “buy” rating in a research report on Tuesday, August 23rd. Goldman Sachs Group Inc. raised Deere & Co. from a “neutral” rating to a “buy” rating and raised their target price for the stock from $87.00 to $105.00 in a research report on Thursday, June 2nd. Finally, Morgan Stanley reissued a “sell” rating on shares of Deere & Co. in a research report on Thursday, June 30th. Eight research analysts have rated the stock with a sell rating, nine have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $81.61.
About Deere & Co.
Deere & Company is engaged in equipment operations and financial services. The Company operates through three business segments: agriculture and turf, construction and forestry, and financial services. The Company’s agriculture and turf segment primarily manufactures and distributes a full line of agriculture and turf equipment and related service parts.
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