Robeco Institutional Asset Management B.V. Sells 23,260 Shares of Deere & Co. (DE)
Robeco Institutional Asset Management B.V. cut its stake in shares of Deere & Co. (NYSE:DE) by 27.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 60,459 shares of the company’s stock after selling 23,260 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Deere & Co. were worth $4,899,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Washington Trust Bank raised its stake in shares of Deere & Co. by 59.0% in the second quarter. Washington Trust Bank now owns 1,240 shares of the company’s stock worth $100,000 after buying an additional 460 shares in the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of Deere & Co. during the first quarter worth about $142,000. Exane Derivatives raised its stake in shares of Deere & Co. by 4.6% in the first quarter. Exane Derivatives now owns 1,909 shares of the company’s stock worth $147,000 after buying an additional 84 shares in the last quarter. Iowa State Bank acquired a new stake in shares of Deere & Co. during the second quarter worth about $151,000. Finally, First National Bank & Trust Co. of Newtown acquired a new stake in shares of Deere & Co. during the second quarter worth about $202,000. 70.65% of the stock is owned by institutional investors and hedge funds.
Shares of Deere & Co. (NYSE:DE) traded up 0.42% during mid-day trading on Friday, reaching $81.95. The company’s stock had a trading volume of 3,596,007 shares. The company’s 50-day moving average is $81.51 and its 200-day moving average is $81.79. Deere & Co. has a 52 week low of $70.16 and a 52 week high of $88.63. The stock has a market capitalization of $25.77 billion, a price-to-earnings ratio of 16.42 and a beta of 1.05.
Deere & Co. (NYSE:DE) last released its quarterly earnings results on Friday, August 19th. The company reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.61. Deere & Co. had a return on equity of 22.73% and a net margin of 5.92%. The company had revenue of $6.72 billion for the quarter. During the same quarter last year, the company earned $1.53 earnings per share. The firm’s revenue for the quarter was down 14.3% on a year-over-year basis. Equities analysts predict that Deere & Co. will post $4.30 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Friday, September 30th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date is Wednesday, September 28th. Deere & Co.’s dividend payout ratio (DPR) is 48.10%.
A number of equities research analysts recently issued reports on the company. Barclays PLC reissued a “sell” rating and set a $63.00 price target on shares of Deere & Co. in a research note on Tuesday, September 6th. Zacks Investment Research raised Deere & Co. from a “hold” rating to a “strong-buy” rating and set a $95.00 price target for the company in a research note on Monday, September 12th. Jefferies Group reissued a “hold” rating on shares of Deere & Co. in a research note on Tuesday, May 24th. Vetr raised Deere & Co. from a “sell” rating to a “hold” rating and set a $77.39 price target for the company in a research note on Tuesday, July 5th. Finally, Piper Jaffray Cos. lowered Deere & Co. from a “neutral” rating to an “underweight” rating and decreased their price target for the stock from $77.64 to $67.00 in a research note on Monday, July 25th. Eight analysts have rated the stock with a sell rating, nine have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $81.61.
About Deere & Co.
Deere & Company is engaged in equipment operations and financial services. The Company operates through three business segments: agriculture and turf, construction and forestry, and financial services. The Company’s agriculture and turf segment primarily manufactures and distributes a full line of agriculture and turf equipment and related service parts.
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