Security National Bank of Sioux City Iowa IA lowered its stake in shares of Deere & Company (NYSE:DE) by 3.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,215 shares of the industrial products company’s stock after selling 45 shares during the quarter. Security National Bank of Sioux City Iowa IA’s holdings in Deere & Company were worth $455,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors also recently made changes to their positions in DE. Norges Bank bought a new position in shares of Deere & Company in the fourth quarter worth approximately $1,006,240,000. FMR LLC lifted its holdings in shares of Deere & Company by 37.8% in the 4th quarter. FMR LLC now owns 4,701,751 shares of the industrial products company’s stock worth $1,265,007,000 after acquiring an additional 1,289,219 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in Deere & Company by 62.5% during the 4th quarter. Wells Fargo & Company MN now owns 1,204,272 shares of the industrial products company’s stock valued at $324,010,000 after buying an additional 463,298 shares in the last quarter. Menora Mivtachim Holdings LTD. purchased a new position in Deere & Company during the 4th quarter valued at about $81,361,000. Finally, BlackRock Inc. grew its position in Deere & Company by 1.5% during the 4th quarter. BlackRock Inc. now owns 20,066,592 shares of the industrial products company’s stock worth $5,398,918,000 after purchasing an additional 292,485 shares during the last quarter. Institutional investors own 66.56% of the company’s stock.
In other Deere & Company news, Director Tami A. Erwin purchased 275 shares of the stock in a transaction on Wednesday, June 2nd. The stock was acquired at an average cost of $359.61 per share, with a total value of $98,892.75. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO John C. May II sold 39,336 shares of the business’s stock in a transaction on Wednesday, June 2nd. The stock was sold at an average price of $359.07, for a total transaction of $14,124,377.52. Following the completion of the sale, the chief executive officer now directly owns 78,949 shares of the company’s stock, valued at $28,348,217.43. The disclosure for this sale can be found here. Company insiders own 0.31% of the company’s stock.
Deere & Company (NYSE:DE) last issued its earnings results on Thursday, May 20th. The industrial products company reported $5.68 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $4.44 by $1.24. The company had revenue of $11 billion during the quarter, compared to the consensus estimate of $10.27 billion. Deere & Company had a return on equity of 33.31% and a net margin of 11.51%. The firm’s revenue for the quarter was up 33.7% compared to the same quarter last year. During the same period last year, the business posted $2.11 EPS. On average, equities research analysts forecast that Deere & Company will post 17.89 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, August 9th. Stockholders of record on Wednesday, June 30th will be paid a dividend of $0.90 per share. The ex-dividend date is Tuesday, June 29th. This represents a $3.60 annualized dividend and a dividend yield of 1.06%. Deere & Company’s payout ratio is currently 41.43%.
DE has been the subject of a number of research analyst reports. Evercore ISI upped their price objective on shares of Deere & Company from $389.00 to $455.00 in a research report on Wednesday, May 12th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised their target price on shares of Deere & Company from $400.00 to $415.00 and gave the company a “buy” rating in a report on Friday, May 14th. Robert W. Baird raised their target price on shares of Deere & Company from $375.00 to $425.00 and gave the stock an “outperform” rating in a research report on Thursday, May 13th. Stifel Nicolaus raised their target price on shares of Deere & Company from $405.00 to $430.00 and gave the stock a “buy” rating in a research report on Monday, May 24th. Finally, Argus raised their target price on Deere & Company from $280.00 to $380.00 and gave the company a “buy” rating in a report on Tuesday, February 23rd. Five research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. Deere & Company has a consensus rating of “Buy” and a consensus price target of $352.22.
Deere & Company Profile
Deere & Company, together with its subsidiaries, 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 provides various agriculture and turf equipment, and related service 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; tillage, seeding, and application equipment comprising sprayers, nutrient management, and soil preparation machinery; self-propelled forage harvesters and attachments, balers, and mowers; riding lawn equipment, golf course equipment, utility vehicles, and commercial mowing equipment along with associated implements; integrated agricultural solutions and precision technologies; and other outdoor power products.
Further Reading: What is the NASDAQ Stock Market?
Want to see what other hedge funds are holding DE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Deere & Company (NYSE:DE).
Receive News & Ratings for Deere & Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Deere & Company and related companies with MarketBeat.com's FREE daily email newsletter.