Deere & Company (DE) Position Reduced by Fox Run Management L.L.C.
Fox Run Management L.L.C. reduced its position in shares of Deere & Company (NYSE:DE) by 33.3% during the second quarter, Holdings Channel reports. The fund owned 3,000 shares of the industrial products company’s stock after selling 1,500 shares during the period. Fox Run Management L.L.C.’s holdings in Deere & were worth $371,000 as of its most recent filing with the SEC.
A number of other large investors have also recently made changes to their positions in the stock. Ledyard National Bank boosted its position in shares of Deere & by 5.0% in the first quarter. Ledyard National Bank now owns 1,050 shares of the industrial products company’s stock worth $114,000 after buying an additional 50 shares during the period. Guardian Life Insurance Co. of America boosted its position in shares of Deere & by 1.4% in the first quarter. Guardian Life Insurance Co. of America now owns 1,132 shares of the industrial products company’s stock worth $123,000 after buying an additional 16 shares during the period. MCF Advisors LLC boosted its position in shares of Deere & by 26.2% in the first quarter. MCF Advisors LLC now owns 1,160 shares of the industrial products company’s stock worth $126,000 after buying an additional 241 shares during the period. Endurance Wealth Management Inc. boosted its position in shares of Deere & by 2.2% in the first quarter. Endurance Wealth Management Inc. now owns 1,404 shares of the industrial products company’s stock worth $153,000 after buying an additional 30 shares during the period. Finally, Parallel Advisors LLC boosted its position in shares of Deere & by 14.7% in the first quarter. Parallel Advisors LLC now owns 1,504 shares of the industrial products company’s stock worth $167,000 after buying an additional 193 shares during the period. Hedge funds and other institutional investors own 67.35% of the company’s stock.
Deere & Company (DE) traded down 0.59% during mid-day trading on Friday, reaching $127.03. 1,001,461 shares of the company’s stock traded hands. Deere & Company has a 52-week low of $76.73 and a 52-week high of $132.50. The company has a 50-day moving average of $126.59 and a 200-day moving average of $116.50. The company has a market capitalization of $40.63 billion, a price-to-earnings ratio of 22.87 and a beta of 0.67.
Deere & (NYSE:DE) last announced its quarterly earnings results on Friday, May 19th. The industrial products company reported $2.49 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.70 by $0.79. Deere & had a net margin of 6.52% and a return on equity of 24.85%. The company had revenue of $7.26 billion for the quarter, compared to analyst estimates of $7.27 billion. During the same quarter in the prior year, the business posted $1.56 EPS. Deere &’s quarterly revenue was up 2.2% on a year-over-year basis. Equities research analysts expect that Deere & Company will post $6.37 EPS for the current year.
The company also recently disclosed 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 annualized dividend and a dividend yield of 1.88%. The ex-dividend date was Wednesday, June 28th. Deere &’s dividend payout ratio is currently 43.24%.
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A number of brokerages have issued reports on DE. Credit Suisse Group set a $132.00 target price on shares of Deere & and gave the company a “buy” rating in a report on Saturday, May 20th. BidaskClub cut shares of Deere & from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Barclays PLC reaffirmed a “sell” rating and issued a $82.00 target price (up from $80.00) on shares of Deere & in a report on Tuesday, April 18th. Stifel Nicolaus increased their target price on shares of Deere & from $126.00 to $135.00 and gave the company a “buy” rating in a report on Monday, May 22nd. Finally, J P Morgan Chase & Co raised shares of Deere & from an “underweight” rating to a “neutral” rating and increased their target price for the company from $103.00 to $122.00 in a report on Friday, June 2nd. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and thirteen have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $122.60.
In other Deere & news, insider Cory J. Reed sold 5,840 shares of the stock in a transaction on Friday, May 19th. The shares were sold at an average price of $119.59, for a total value of $698,405.60. Following the completion of the sale, the insider now directly owns 10,807 shares of the company’s stock, valued at approximately $1,292,409.13. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Samuel R. Allen sold 62,704 shares of the stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $125.00, for a total transaction of $7,838,000.00. Following the completion of the sale, the chief executive officer now directly owns 333,492 shares of the company’s stock, valued at $41,686,500. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 130,988 shares of company stock valued at $16,451,037. 0.85% of the stock is owned by insiders.
Deere & Company Profile
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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