Deere & Company (DE) Position Decreased by SeaBridge Investment Advisors LLC
SeaBridge Investment Advisors LLC lowered its stake in shares of Deere & Company (NYSE:DE) by 24.5% during the second quarter, Holdings Channel reports. The fund owned 36,604 shares of the industrial products company’s stock after selling 11,904 shares during the period. SeaBridge Investment Advisors LLC’s holdings in Deere & were worth $4,524,000 as of its most recent filing with the SEC.
Several other large investors also recently added to or reduced their stakes in the stock. Gulf International Bank UK Ltd boosted its stake in Deere & by 1.2% in the first quarter. Gulf International Bank UK Ltd now owns 82,746 shares of the industrial products company’s stock valued at $9,007,000 after buying an additional 1,000 shares during the last quarter. Mutual of Omaha Bank Wealth Management bought a new stake in Deere & during the first quarter valued at about $218,000. Country Club Trust Company n.a. bought a new stake in Deere & during the first quarter valued at about $210,000. Carroll Financial Associates Inc. boosted its stake in Deere & by 5.1% in the first quarter. Carroll Financial Associates Inc. now owns 1,835 shares of the industrial products company’s stock valued at $199,000 after buying an additional 89 shares during the last quarter. Finally, Stillwater Investment Management LLC boosted its stake in Deere & by 0.5% in the first quarter. Stillwater Investment Management LLC now owns 15,900 shares of the industrial products company’s stock valued at $1,731,000 after buying an additional 85 shares during the last quarter. Hedge funds and other institutional investors own 67.35% of the company’s stock.
Deere & Company (NYSE DE) traded down 2.37% during mid-day trading on Thursday, reaching $129.27. 1,287,882 shares of the company were exchanged. Deere & Company has a 1-year low of $76.73 and a 1-year high of $132.50. The stock’s 50-day moving average price is $126.50 and its 200-day moving average price is $116.42. The stock has a market capitalization of $41.35 billion, a price-to-earnings ratio of 23.27 and a beta of 0.67. Deere & also saw some unusual options trading on Monday. Investors bought 731 call options on the company. This represents an increase of 255% compared to the typical volume of 206 call options.
Deere & (NYSE:DE) last announced its earnings results on Friday, May 19th. The industrial products company reported $2.49 EPS for the quarter, beating analysts’ consensus estimates of $1.70 by $0.79. Deere & had a return on equity of 24.85% and a net margin of 6.52%. The company had revenue of $7.26 billion during the quarter, compared to analysts’ expectations of $7.27 billion. During the same period last year, the business posted $1.56 EPS. Deere &’s revenue for the quarter was up 2.2% on a year-over-year basis. On average, equities research analysts anticipate that Deere & Company will post $6.37 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Investors of record on Friday, June 30th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date was Wednesday, June 28th. Deere &’s dividend payout ratio (DPR) is 43.24%.
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DE has been the topic of several research reports. Credit Suisse Group set a $132.00 price target on shares of Deere & and gave the stock a “buy” rating in a research report on Wednesday, April 12th. Barclays PLC restated a “sell” rating and issued a $82.00 price target (up previously from $80.00) on shares of Deere & in a research report on Tuesday, April 18th. BMO Capital Markets restated a “buy” rating and issued a $128.00 price target on shares of Deere & in a research report on Thursday, April 20th. J P Morgan Chase & Co upgraded shares of Deere & to an “underweight” rating and boosted their price target for the stock from $90.00 to $94.00 in a research report on Monday, May 1st. Finally, Stifel Nicolaus boosted their price target on shares of Deere & from $126.00 to $135.00 and gave the stock a “buy” rating in a research report on Monday, May 22nd. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and thirteen have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $122.60.
In other news, VP Marc A. Howze sold 6,624 shares of Deere & stock in a transaction dated Friday, May 19th. The stock was sold at an average price of $119.59, for a total value of $792,164.16. Following the completion of the transaction, the vice president now owns 9,004 shares in the company, valued at approximately $1,076,788.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Max A. Guinn sold 5,000 shares of Deere & stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $130.89, for a total value of $654,450.00. The disclosure for this sale can be found here. Insiders have sold a total of 130,988 shares of company stock valued at $16,451,037 over the last 90 days. 0.85% of the stock is currently owned by company insiders.
About Deere &
Deere & Company is engaged in equipment operations. The Company is engaged in providing financial services. The Company operates through three business segments: agriculture and turf, construction and forestry, and financial services. The agriculture and turf segment manufactures and distributes a line of agriculture and turf equipment and related service parts.
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