Semmax Financial Advisors Inc. trimmed its holdings in Deere & Company (NYSE:DE) by 27.3% during the second quarter, HoldingsChannel.com reports. The firm owned 4,160 shares of the industrial products company’s stock after selling 1,564 shares during the period. Semmax Financial Advisors Inc.’s holdings in Deere & Company were worth $689,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Dimensional Fund Advisors LP increased its position in Deere & Company by 4.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,123,218 shares of the industrial products company’s stock valued at $167,531,000 after purchasing an additional 49,932 shares during the period. Geode Capital Management LLC grew its position in shares of Deere & Company by 7.2% in the 4th quarter. Geode Capital Management LLC now owns 3,655,571 shares of the industrial products company’s stock worth $544,229,000 after buying an additional 244,266 shares during the last quarter. CWM LLC grew its position in shares of Deere & Company by 4.2% in the 1st quarter. CWM LLC now owns 2,531 shares of the industrial products company’s stock worth $405,000 after buying an additional 103 shares during the last quarter. Mercer Global Advisors Inc. ADV purchased a new position in shares of Deere & Company in the 1st quarter worth approximately $887,000. Finally, Oppenheimer Asset Management Inc. grew its position in shares of Deere & Company by 92.7% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 609 shares of the industrial products company’s stock worth $98,000 after buying an additional 293 shares during the last quarter. 67.67% of the stock is currently owned by institutional investors.
DE has been the topic of a number of analyst reports. UBS Group cut their price objective on shares of Deere & Company from $167.00 to $160.00 and set a “neutral” rating on the stock in a research report on Monday, August 19th. Bank of America cut their price objective on shares of Deere & Company from $185.00 to $175.00 and set a “buy” rating on the stock in a research report on Monday, August 19th. Vertical Research downgraded shares of Deere & Company from a “buy” rating to a “hold” rating in a research report on Monday, May 20th. Wells Fargo & Co cut their price objective on shares of Deere & Company from $185.00 to $170.00 and set an “outperform” rating on the stock in a research report on Monday, August 19th. They noted that the move was a valuation call. Finally, Deutsche Bank cut their price objective on shares of Deere & Company from $163.00 to $155.00 and set a “hold” rating on the stock in a research report on Wednesday, August 14th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and thirteen have assigned a buy rating to the company. Deere & Company currently has a consensus rating of “Hold” and an average target price of $166.89.
DE stock traded down $8.35 during trading on Friday, reaching $147.02. The company had a trading volume of 2,603,420 shares, compared to its average volume of 2,208,911. The firm has a 50-day simple moving average of $159.51 and a 200-day simple moving average of $158.21. The company has a market cap of $49.25 billion, a price-to-earnings ratio of 15.66, a price-to-earnings-growth ratio of 2.33 and a beta of 1.10. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.73 and a current ratio of 1.99. Deere & Company has a twelve month low of $128.32 and a twelve month high of $171.22.
Deere & Company (NYSE:DE) last released its earnings results on Friday, August 16th. The industrial products company reported $2.71 EPS for the quarter, missing analysts’ consensus estimates of $2.80 by ($0.09). The company had revenue of $8.97 billion during the quarter, compared to analyst estimates of $9.38 billion. Deere & Company had a return on equity of 27.75% and a net margin of 8.55%. The firm’s revenue for the quarter was down 3.4% on a year-over-year basis. During the same quarter last year, the business earned $2.59 earnings per share. Sell-side analysts expect that Deere & Company will post 9.98 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Friday, June 28th were paid a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date of this dividend was Thursday, June 27th. Deere & Company’s dividend payout ratio (DPR) is presently 32.37%.
In related news, COO John C. May II sold 16,468 shares of Deere & Company stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $163.21, for a total value of $2,687,742.28. Following the completion of the sale, the chief operating officer now directly owns 60,550 shares in the company, valued at approximately $9,882,365.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO John C. May II sold 5,228 shares of Deere & Company stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $170.00, for a total transaction of $888,760.00. Following the completion of the sale, the chief operating officer now owns 49,310 shares of the company’s stock, valued at $8,382,700. The disclosure for this sale can be found here. 0.71% of the stock is owned by company insiders.
Deere & Company Profile
Deere & Company manufactures and distributes various equipment worldwide. The company operates through three segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment offers agriculture and turf equipment, and related parts, including large, medium, and utility tractors; tractor loaders; combines, cotton pickers, cotton strippers, and sugarcane harvesters; harvesting front-end equipment; sugarcane loaders and pull-behind scrapers; and tillage, seeding, and application equipment.
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