Puzo Michael J lowered its position in shares of Deere & Company (NYSE:DE) by 8.4% during the second quarter, Holdings Channel reports. The institutional investor owned 3,525 shares of the industrial products company’s stock after selling 325 shares during the period. Puzo Michael J’s holdings in Deere & were worth $435,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. BlackRock Inc. increased its position in shares of Deere & by 2,432.6% in the first quarter. BlackRock Inc. now owns 16,715,452 shares of the industrial products company’s stock worth $1,819,643,000 after buying an additional 16,055,453 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Deere & by 8.2% in the first quarter. Vanguard Group Inc. now owns 20,440,278 shares of the industrial products company’s stock worth $2,225,128,000 after buying an additional 1,541,004 shares in the last quarter. SG Americas Securities LLC increased its position in shares of Deere & by 107.6% in the first quarter. SG Americas Securities LLC now owns 44,868 shares of the industrial products company’s stock worth $4,884,000 after buying an additional 631,378 shares in the last quarter. First Eagle Investment Management LLC increased its position in shares of Deere & by 5.1% in the first quarter. First Eagle Investment Management LLC now owns 6,652,623 shares of the industrial products company’s stock worth $724,205,000 after buying an additional 322,158 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Deere & by 11.2% in the first quarter. Geode Capital Management LLC now owns 2,794,419 shares of the industrial products company’s stock worth $303,767,000 after buying an additional 282,029 shares in the last quarter. Institutional investors own 67.91% of the company’s stock.

Deere & Company (NYSE:DE) traded down 1.29% during trading on Tuesday, hitting $126.91. The stock had a trading volume of 1,012,561 shares. The firm has a 50 day moving average of $126.81 and a 200-day moving average of $116.92. The stock has a market cap of $40.59 billion, a price-to-earnings ratio of 22.85 and a beta of 0.67. Deere & Company has a 12 month low of $76.73 and a 12 month high of $132.50. Deere & also was the target of unusually large options trading activity on Monday. Traders bought 8,722 put options on the stock. This represents an increase of 189% compared to the typical volume of 3,017 put options.

Deere & (NYSE:DE) last posted its quarterly earnings data 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 business had revenue of $7.26 billion during the quarter, compared to the consensus estimate of $7.27 billion. During the same period in the previous year, the firm posted $1.56 earnings per share. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. Equities analysts predict that Deere & Company will post $6.38 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 1st. Stockholders of record on Friday, June 30th were paid a dividend of $0.60 per share. The ex-dividend date of this dividend was Wednesday, June 28th. This represents a $2.40 annualized dividend and a dividend yield of 1.87%. Deere &’s payout ratio is currently 43.24%.

WARNING: This story was originally published by Watch List News and is owned by of Watch List News. If you are accessing this story on another website, it was stolen and republished in violation of United States and international copyright and trademark laws. The correct version of this story can be viewed at https://www.watchlistnews.com/deere-company-de-shares-sold-by-puzo-michael-j/1491338.html.

DE has been the topic of a number of research analyst reports. Deutsche Bank AG boosted their price target on Deere & from $122.00 to $135.00 and gave the company a “hold” rating in a report on Monday, May 22nd. Goldman Sachs Group, Inc. (The) upgraded Deere & from a “buy” rating to a “conviction-buy” rating and set a $129.75 price target on the stock in a report on Monday, August 7th. Barclays PLC restated a “sell” rating and set a $82.00 price target (up previously from $80.00) on shares of Deere & in a report on Tuesday, April 18th. J P Morgan Chase & Co upgraded Deere & to an “underweight” rating and boosted their price target for the company from $90.00 to $94.00 in a report on Monday, May 1st. Finally, BidaskClub downgraded Deere & from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 22nd. Three investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twelve have issued a buy rating to the stock. Deere & has a consensus rating of “Hold” and an average price target of $122.79.

In other news, insider Cory J. Reed sold 5,840 shares of Deere & stock in a transaction on Friday, May 19th. The shares were sold at an average price of $119.59, for a total transaction of $698,405.60. Following the completion of the sale, the insider now directly owns 10,807 shares in the company, valued at $1,292,409.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Samuel R. Allen sold 62,704 shares of Deere & stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $125.00, for a total transaction of $7,838,000.00. Following the sale, the chief executive officer now owns 333,492 shares of the company’s stock, valued at $41,686,500. The disclosure for this sale can be found here. Insiders have sold 130,988 shares of company stock valued at $16,451,037 over the last quarter. Insiders own 0.75% of the company’s stock.

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.

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).

Institutional Ownership by Quarter for Deere & (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 Analyst Ratings Network's FREE daily email newsletter.