First Midwest Bank Trust Division cut its position in Deere & Co. (NYSE:DE) by 1.2% during the second quarter, Holdings Channel reports. The fund owned 95,239 shares of the company’s stock after selling 1,125 shares during the period. Deere & Co. makes up 1.0% of First Midwest Bank Trust Division’s holdings, making the stock its 15th largest position. First Midwest Bank Trust Division’s holdings in Deere & Co. were worth $7,718,000 as of its most recent filing with the SEC.
Other institutional investors have also modified their holdings of 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 last quarter. Meeder Asset Management Inc. purchased a new position in Deere & Co. during the first quarter worth approximately $142,000. Exane Derivatives boosted its position in 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 in the last quarter. Iowa State Bank purchased a new position in Deere & Co. during the second quarter worth approximately $151,000. Finally, First National Bank & Trust Co. of Newtown purchased a new position in Deere & Co. during the second quarter worth approximately $202,000. 70.62% of the stock is owned by institutional investors and hedge funds.
Deere & Co. (NYSE:DE) traded down 0.63% during mid-day trading on Tuesday, reaching $83.05. 2,795,927 shares of the company’s stock traded hands. The stock’s 50 day moving average is $82.65 and its 200-day moving average is $81.76. The stock has a market capitalization of $26.11 billion, a PE ratio of 16.64 and a beta of 1.05. Deere & Co. has a 52 week low of $70.16 and a 52 week high of $88.63.
Deere & Co. (NYSE:DE) last posted its quarterly earnings data on Friday, August 19th. The company reported $1.55 EPS for the quarter, beating the Thomson Reuters’ 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 business earned $6.72 billion during the quarter. During the same period in the previous year, the business posted $1.53 EPS. The company’s revenue for the quarter was down 14.3% compared to the same quarter last year. On average, equities analysts anticipate that Deere & Co. will post $4.30 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Friday, September 30th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 2.89%. The ex-dividend date of this dividend is Wednesday, September 28th. Deere & Co.’s payout ratio is 48.10%.
A number of equities analysts recently commented on DE shares. Goldman Sachs Group Inc. raised shares of Deere & Co. from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $87.00 to $105.00 in a research note on Thursday, June 2nd. Vetr cut shares of Deere & Co. from a “hold” rating to a “sell” rating and set a $83.39 price target for the company. in a research note on Monday, June 6th. Morgan Stanley reaffirmed a “sell” rating on shares of Deere & Co. in a research note on Thursday, June 30th. Piper Jaffray Cos. cut shares of Deere & Co. from a “neutral” rating to an “underweight” rating and dropped their price target for the stock from $77.64 to $67.00 in a research note on Monday, July 25th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $96.00 price target on shares of Deere & Co. in a research note on Thursday, August 18th. Eight analysts have rated the stock with a sell rating, eight have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Deere & Co. currently has an average rating of “Hold” and an average target price of $82.40.
Deere & Co. Company Profile
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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