Westpac Banking Corp boosted its position in Deere & Co. (NYSE:DE) by 23.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,826 shares of the company’s stock after buying an additional 3,158 shares during the period. Westpac Banking Corp’s holdings in Deere & Co. were worth $1,364,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of DE. Natixis raised its stake in Deere & Co. by 117.0% in the first quarter. Natixis now owns 452,167 shares of the company’s stock worth $34,813,000 after buying an additional 243,784 shares during the last quarter. Robecosam AG raised its stake in Deere & Co. by 0.5% in the first quarter. Robecosam AG now owns 73,470 shares of the company’s stock worth $5,886,000 after buying an additional 390 shares during the last quarter. Bessemer Group Inc. raised its stake in Deere & Co. by 4.9% in the first quarter. Bessemer Group Inc. now owns 8,100 shares of the company’s stock worth $623,000 after buying an additional 381 shares during the last quarter. Legal & General Group Plc raised its stake in 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, East Coast Asset Management LLC. raised its stake in Deere & Co. by 3.5% in the first quarter. East Coast Asset Management LLC. now owns 51,544 shares of the company’s stock worth $3,968,000 after buying an additional 1,744 shares during the last quarter. 70.62% of the stock is currently owned by institutional investors.
Shares of Deere & Co. (NYSE:DE) traded up 0.98% during trading on Friday, reaching $84.68. The company’s stock had a trading volume of 231,877 shares. Deere & Co. has a 12-month low of $70.16 and a 12-month high of $88.63. The company has a 50 day moving average of $83.08 and a 200-day moving average of $81.80. The stock has a market cap of $26.63 billion, a price-to-earnings ratio of 16.97 and a beta of 1.05.
Deere & Co. (NYSE:DE) last released its quarterly earnings results on Friday, August 19th. The company reported $1.55 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.94 by $0.61. Deere & Co. had a return on equity of 22.73% and a net margin of 5.92%. The business earned $6.72 billion during the quarter. During the same period in the prior year, the firm posted $1.53 EPS. The business’s revenue for the quarter was down 14.3% on a year-over-year basis. Analysts forecast that Deere & Co. will post $4.30 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Friday, September 30th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 2.86%. The ex-dividend date is Wednesday, September 28th. Deere & Co.’s dividend payout ratio is presently 48.10%.
Several equities research analysts have recently issued reports on the company. Piper Jaffray Cos. lowered Deere & Co. from a “neutral” rating to an “underweight” rating and decreased their target price for the company from $77.64 to $67.00 in a research report on Monday, July 25th. Vetr raised Deere & Co. from a “strong sell” rating to a “sell” rating and set a $73.25 target price for the company in a research report on Monday, June 27th. Citigroup Inc. decreased their target price on Deere & Co. from $100.00 to $87.00 and set a “buy” rating for the company in a research report on Monday, August 22nd. Zacks Investment Research raised Deere & Co. from a “hold” rating to a “strong-buy” rating and set a $95.00 target price for the company in a research report on Monday, September 12th. Finally, Goldman Sachs Group Inc. raised Deere & Co. from a “neutral” rating to a “buy” rating and raised their target price for the company from $87.00 to $105.00 in a research report on Thursday, June 2nd. Eight investment analysts have rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus 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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