Deere & Company (NYSE:DE) Shares Sold by State Street Corp

by · The Cerbat Gem

State Street Corp cut its stake in Deere & Company (NYSE:DE – Free Report) by 0.2% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,445,961 shares of the industrial products company’s stock after selling 21,697 shares during the period. State Street Corp owned 3.56% of Deere & Company worth $4,245,489,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. MML Investors Services LLC boosted its stake in Deere & Company by 21.2% in the 2nd quarter. MML Investors Services LLC now owns 40,010 shares of the industrial products company’s stock worth $16,211,000 after purchasing an additional 7,001 shares in the last quarter. Jefferies Financial Group Inc. raised its position in Deere & Company by 817.6% during the 2nd quarter. Jefferies Financial Group Inc. now owns 15,600 shares of the industrial products company’s stock worth $6,321,000 after buying an additional 13,900 shares during the last quarter. Cypress Asset Management Inc. TX raised its position in Deere & Company by 3.7% during the 2nd quarter. Cypress Asset Management Inc. TX now owns 5,937 shares of the industrial products company’s stock worth $2,452,000 after buying an additional 210 shares during the last quarter. West Tower Group LLC purchased a new position in Deere & Company during the 2nd quarter worth approximately $47,000. Finally, UniSuper Management Pty Ltd purchased a new position in Deere & Company during the 2nd quarter worth approximately $7,756,000. 66.27% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Ryan D. Campbell sold 6,073 shares of the business’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $379.19, for a total transaction of $2,302,820.87. Following the transaction, the insider now owns 18,519 shares of the company’s stock, valued at approximately $7,022,219.61. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.26% of the stock is currently owned by corporate insiders.

Deere & Company Trading Down 0.8 %

Shares of DE opened at $362.74 on Thursday. Deere & Company has a 52-week low of $345.55 and a 52-week high of $450.00. The company has a quick ratio of 1.70, a current ratio of 1.90 and a debt-to-equity ratio of 1.77. The firm’s fifty day moving average is $374.66 and its two-hundred day moving average is $393.73. The stock has a market cap of $104.47 billion, a PE ratio of 10.55, a price-to-earnings-growth ratio of 1.04 and a beta of 1.02.

Deere & Company (NYSE:DE – Get Free Report) last announced its earnings results on Wednesday, November 22nd. The industrial products company reported $8.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.46 by $0.80. Deere & Company had a net margin of 16.60% and a return on equity of 45.91%. The company had revenue of $13.80 billion for the quarter, compared to analysts’ expectations of $13.64 billion. During the same quarter in the previous year, the company posted $7.44 EPS. The firm’s quarterly revenue was down 3.8% on a year-over-year basis. Research analysts forecast that Deere & Company will post 29.24 earnings per share for the current fiscal year.

Deere & Company Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 8th. Shareholders of record on Friday, December 29th will be paid a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a yield of 1.62%. This is a boost from Deere & Company’s previous quarterly dividend of $1.35. Deere & Company’s payout ratio is 15.58%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on DE shares. Deutsche Bank Aktiengesellschaft raised their price target on shares of Deere & Company from $398.00 to $407.00 and gave the stock a “hold” rating in a research report on Monday, August 21st. Stifel Nicolaus cut their target price on shares of Deere & Company from $493.00 to $460.00 and set a “buy” rating for the company in a report on Monday, August 21st. Credit Suisse Group cut their target price on shares of Deere & Company from $560.00 to $551.00 and set an “outperform” rating for the company in a report on Monday, August 21st. StockNews.com initiated coverage on shares of Deere & Company in a report on Thursday, October 5th. They set a “hold” rating for the company. Finally, Canaccord Genuity Group lowered shares of Deere & Company from a “buy” rating to a “hold” rating and cut their target price for the company from $530.00 to $400.00 in a report on Friday, September 22nd. Eight research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, Deere & Company currently has a consensus rating of “Moderate Buy” and a consensus target price of $443.83.

View Our Latest Report on Deere & Company

Deere & Company Company Profile

(Free Report)

Deere & Company manufactures and distributes various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides mid-size tractors, combines, cotton pickers and strippers, sugarcane harvesters, harvesting front-end equipment, sugarcane loaders, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.

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