Public Employees Retirement Association of Colorado reduced its position in Deere & Co. (NYSE:DE) by 5.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 230,336 shares of the company’s stock after selling 12,172 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Deere & Co. were worth $18,666,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Primecap Management Co. CA increased its stake in Deere & Co. by 19.3% in the first quarter. Primecap Management Co. CA now owns 5,286,519 shares of the company’s stock valued at $407,009,000 after buying an additional 856,000 shares in the last quarter. 1832 Asset Management L.P. increased its stake in Deere & Co. by 289.6% in the first quarter. 1832 Asset Management L.P. now owns 1,012,335 shares of the company’s stock valued at $131,221,000 after buying an additional 752,519 shares in the last quarter. American Century Companies Inc. bought a new stake in Deere & Co. during the second quarter valued at $31,119,000. Investec Asset Management LTD increased its stake in Deere & Co. by 455.3% in the first quarter. Investec Asset Management LTD now owns 410,627 shares of the company’s stock valued at $31,614,000 after buying an additional 336,684 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. bought a new stake in Deere & Co. during the first quarter valued at $21,663,000. 70.62% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Deere & Co. (NYSE:DE) traded down 0.9850% during midday trading on Tuesday, hitting $86.6282. 1,167,308 shares of the company were exchanged. The company has a 50-day moving average price of $84.41 and a 200-day moving average price of $82.00. Deere & Co. has a 52-week low of $70.16 and a 52-week high of $89.34. The stock has a market capitalization of $27.24 billion, a price-to-earnings ratio of 17.3604 and a beta of 0.89.
Deere & Co. (NYSE:DE) last posted its quarterly earnings data on Friday, August 19th. The company reported $1.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.61. Deere & Co. had a net margin of 5.92% and a return on equity of 22.73%. The firm had revenue of $6.72 billion for the quarter. During the same quarter last year, the business earned $1.53 earnings per share. The business’s quarterly revenue was down 14.3% on a year-over-year basis. On average, analysts forecast that Deere & Co. will post $4.30 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Friday, September 30th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $2.40 annualized dividend and a dividend yield of 2.74%. Deere & Co.’s payout ratio is currently 48.10%.
DE has been the topic of several research analyst reports. Vetr downgraded shares of Deere & Co. from a “sell” rating to a “strong sell” rating and set a $73.25 target price on the stock. in a research report on Monday, June 13th. Morgan Stanley reissued a “sell” rating on shares of Deere & Co. in a research report on Thursday, June 30th. Piper Jaffray Cos. downgraded shares of Deere & Co. from a “neutral” rating to an “underweight” rating and dropped their target price for the stock from $77.64 to $67.00 in a research report on Monday, July 25th. BMO Capital Markets reissued an “outperform” rating and set a $96.00 target price on shares of Deere & Co. in a research report on Thursday, August 18th. Finally, Jefferies Group reissued a “hold” rating and set a $70.00 target price on shares of Deere & Co. in a research report on Friday, August 19th. Eight investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target 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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