Neuberger Berman Group LLC cut its stake in Deere & Company (NYSE:DE) by 56.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 204,974 shares of the industrial products company’s stock after selling 268,933 shares during the quarter. Neuberger Berman Group LLC owned about 0.06% of Deere & worth $25,333,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Louisiana State Employees Retirement System increased its holdings in shares of Deere & by 1.7% in the 2nd quarter. Louisiana State Employees Retirement System now owns 18,300 shares of the industrial products company’s stock valued at $2,262,000 after acquiring an additional 300 shares during the period. Dai Ichi Life Insurance Company Ltd increased its holdings in shares of Deere & by 42.1% in the 1st quarter. Dai Ichi Life Insurance Company Ltd now owns 21,438 shares of the industrial products company’s stock valued at $2,334,000 after acquiring an additional 6,353 shares during the period. Ngam Advisors L.P. increased its holdings in shares of Deere & by 20.8% in the 1st quarter. Ngam Advisors L.P. now owns 427,136 shares of the industrial products company’s stock valued at $46,498,000 after acquiring an additional 73,484 shares during the period. Schwab Charles Investment Management Inc. increased its holdings in shares of Deere & by 3.7% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,139,980 shares of the industrial products company’s stock valued at $140,891,000 after acquiring an additional 40,269 shares during the period. Finally, IFP Advisors Inc increased its holdings in shares of Deere & by 0.9% in the 2nd quarter. IFP Advisors Inc now owns 15,525 shares of the industrial products company’s stock valued at $1,919,000 after acquiring an additional 142 shares during the period. Institutional investors and hedge funds own 66.58% of the company’s stock.
In related news, insider Max A. Guinn sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $130.89, for a total transaction of $654,450.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Pentz Markwart Von sold 46,457 shares of the firm’s stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $116.74, for a total value of $5,423,390.18. Following the transaction, the insider now directly owns 47,165 shares in the company, valued at approximately $5,506,042.10. The disclosure for this sale can be found here. In the last three months, insiders have sold 71,833 shares of company stock worth $8,725,404. Corporate insiders own 0.85% of the company’s stock.
DE has been the topic of a number of analyst reports. Deutsche Bank AG lifted their price target on Deere & from $122.00 to $135.00 and gave the company a “hold” rating in a report on Monday, May 22nd. Goldman Sachs Group, Inc. (The) upgraded Deere & from a “buy” rating to a “conviction-buy” rating and set a $129.75 price target on the stock in a report on Monday, August 7th. BidaskClub downgraded Deere & from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 22nd. ValuEngine upgraded Deere & from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Finally, William Blair upgraded Deere & from an “underperform” rating to a “market perform” rating in a report on Thursday, June 1st. Three investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and ten have given a buy rating to the company. Deere & presently has an average rating of “Hold” and an average target price of $127.58.
Deere & Company (NYSE DE) opened at 119.01 on Friday. The stock has a 50 day moving average price of $121.81 and a 200 day moving average price of $118.30. The firm has a market cap of $38.24 billion, a PE ratio of 19.77 and a beta of 0.70. Deere & Company has a one year low of $81.89 and a one year high of $132.50.
Deere & (NYSE:DE) last released its quarterly earnings results on Friday, August 18th. The industrial products company reported $1.97 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.93 by $0.04. Deere & had a return on equity of 25.96% and a net margin of 6.81%. The firm had revenue of $6.83 billion for the quarter, compared to analyst estimates of $6.92 billion. During the same quarter last year, the company posted $1.55 earnings per share. The business’s revenue was up 16.6% on a year-over-year basis. Equities research analysts expect that Deere & Company will post $6.52 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Friday, September 29th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date of this dividend is Thursday, September 28th. Deere &’s dividend payout ratio is currently 40.20%.
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Deere & Profile
Deere & Company is engaged in equipment operations. The Company is engaged in providing financial services. The Company operates through three business segments: agriculture and turf, construction and forestry, and financial services. The agriculture and turf segment manufactures and distributes a line of agriculture and turf equipment and related service parts.
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