Dimensional Fund Advisors LP reduced its position in shares of Deere & Co. (NYSE:DE) by 0.2% during the second quarter, according to its most recent filing with the SEC. The fund owned 915,320 shares of the company’s stock after selling 2,237 shares during the period. Dimensional Fund Advisors LP owned approximately 0.29% of Deere & Co. worth $74,181,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Washington Trust Bank boosted its position in shares of Deere & Co. by 59.0% in the second quarter. Washington Trust Bank now owns 1,240 shares of the company’s stock worth $100,000 after buying an additional 460 shares during the period. FineMark National Bank & Trust boosted its position in shares of Deere & Co. by 1.8% in the second quarter. FineMark National Bank & Trust now owns 1,451 shares of the company’s stock worth $118,000 after buying an additional 26 shares during the period. Signaturefd LLC boosted its position in shares of Deere & Co. by 1.3% in the second quarter. Signaturefd LLC now owns 1,610 shares of the company’s stock worth $130,000 after buying an additional 21 shares during the period. Meeder Asset Management Inc. bought a new position in shares of Deere & Co. during the first quarter worth about $142,000. Finally, Exane Derivatives boosted its position in shares of Deere & Co. by 4.6% in the first quarter. Exane Derivatives now owns 1,909 shares of the company’s stock worth $147,000 after buying an additional 84 shares during the period. 70.62% of the stock is currently owned by institutional investors and hedge funds.
Shares of Deere & Co. (NYSE:DE) traded down 0.55% during midday trading on Tuesday, hitting $83.12. 793,540 shares of the company traded hands. The stock has a market capitalization of $26.13 billion, a P/E ratio of 16.66 and a beta of 1.05. Deere & Co. has a 52 week low of $70.16 and a 52 week high of $88.63. The company has a 50-day moving average price of $82.65 and a 200-day moving average price of $81.76.
Deere & Co. (NYSE:DE) last posted its earnings results on Friday, August 19th. The company reported $1.55 EPS for the quarter, beating the Zacks’ consensus estimate of $0.94 by $0.61. Deere & Co. had a net margin of 5.92% and a return on equity of 22.73%. The company earned $6.72 billion during the quarter. During the same period in the previous year, the company earned $1.53 EPS. The company’s revenue was down 14.3% on a year-over-year basis. Analysts anticipate that Deere & Co. will post $4.30 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Friday, September 30th will be given a dividend of $0.60 per share. The ex-dividend date is Wednesday, September 28th. This represents a $2.40 dividend on an annualized basis and a yield of 2.87%. Deere & Co.’s payout ratio is 48.10%.
A number of research analysts have recently issued reports on the company. Zacks Investment Research raised Deere & Co. from a “hold” rating to a “strong-buy” rating and set a $95.00 price objective on the stock in a research note on Monday, September 12th. Deutsche Bank AG assumed coverage on Deere & Co. in a research note on Tuesday, September 6th. They set a “hold” rating and a $90.00 price objective on the stock. Barclays PLC reaffirmed a “sell” rating and set a $63.00 price objective on shares of Deere & Co. in a research note on Tuesday, September 6th. Piper Jaffray Cos. reaffirmed an “underweight” rating and set a $70.00 price objective on shares of Deere & Co. in a research note on Tuesday, August 30th. Finally, Jefferies Group reduced their price objective on Deere & Co. from $90.00 to $85.00 and set a “hold” rating on the stock in a research note on Thursday, August 25th. Eight analysts have rated the stock with a sell rating, eight have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $82.40.
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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