Abner Herrman & Brock LLC decreased its holdings in Deere & Company (NYSE:DE) by 4.1% during the third quarter, HoldingsChannel.com reports. The firm owned 5,984 shares of the industrial products company’s stock after selling 256 shares during the quarter. Abner Herrman & Brock LLC’s holdings in Deere & Company were worth $1,009,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in DE. SRS Capital Advisors Inc. bought a new position in shares of Deere & Company during the 2nd quarter worth $28,000. Arcus Capital Partners LLC bought a new position in shares of Deere & Company during the 2nd quarter worth $33,000. Orrstown Financial Services Inc. grew its position in shares of Deere & Company by 116.0% during the 2nd quarter. Orrstown Financial Services Inc. now owns 216 shares of the industrial products company’s stock worth $36,000 after buying an additional 116 shares in the last quarter. Nelson Roberts Investment Advisors LLC grew its position in shares of Deere & Company by 34.8% during the 2nd quarter. Nelson Roberts Investment Advisors LLC now owns 271 shares of the industrial products company’s stock worth $45,000 after buying an additional 70 shares in the last quarter. Finally, Heritage Wealth Advisors bought a new position in shares of Deere & Company during the 2nd quarter worth $47,000. Institutional investors and hedge funds own 67.53% of the company’s stock.
In other Deere & Company news, COO John C. May II sold 5,228 shares of the firm’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $170.00, for a total value 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 sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.71% of the stock is currently owned by company insiders.
A number of research firms have recently issued reports on DE. UBS Group dropped their price target on Deere & Company from $167.00 to $160.00 and set a “neutral” rating on the stock in a research report on Monday, August 19th. Deutsche Bank dropped their price target on Deere & Company from $163.00 to $155.00 and set a “hold” rating on the stock in a research report on Wednesday, August 14th. Barclays reaffirmed a “buy” rating and set a $167.00 price objective on shares of Deere & Company in a research report on Monday, July 15th. Wells Fargo & Co downgraded Deere & Company from an “outperform” rating to a “market perform” rating and set a $170.00 price objective on the stock. in a research report on Thursday, September 12th. Finally, Credit Suisse Group reaffirmed an “outperform” rating and set a $197.00 price objective (up previously from $176.00) on shares of Deere & Company in a research report on Monday, August 19th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have given a buy rating to the company’s stock. Deere & Company presently has an average rating of “Hold” and an average price target of $168.42.
NYSE DE traded up $2.62 during trading on Friday, hitting $170.42. The company’s stock had a trading volume of 104,596 shares, compared to its average volume of 1,892,168. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.99 and a quick ratio of 1.73. The company has a market cap of $51.94 billion, a PE ratio of 18.16, a P/E/G ratio of 2.48 and a beta of 1.16. The business’s 50 day simple moving average is $160.69 and its 200-day simple moving average is $158.17. Deere & Company has a fifty-two week low of $128.32 and a fifty-two week high of $171.22.
Deere & Company (NYSE:DE) last issued its quarterly earnings results on Friday, August 16th. The industrial products company reported $2.71 earnings per share for the quarter, missing the consensus estimate of $2.80 by ($0.09). The business 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%. Deere & Company’s revenue was down 3.4% compared to the same quarter last year. During the same period in the prior year, the business posted $2.59 EPS. Analysts expect that Deere & Company will post 9.98 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Monday, September 30th will be issued a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 1.78%. The ex-dividend date of this dividend is Friday, September 27th. Deere & Company’s dividend payout ratio is presently 32.37%.
About Deere & Company
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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