Welch & Forbes LLC cut its stake in Deere & Company (NYSE:DE) by 0.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,928 shares of the industrial products company’s stock after selling 10 shares during the period. Welch & Forbes LLC’s holdings in Deere & were worth $856,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Sei Investments Co. increased its position in shares of Deere & by 10.1% in the second quarter. Sei Investments Co. now owns 229,620 shares of the industrial products company’s stock valued at $28,379,000 after buying an additional 21,026 shares in the last quarter. Parsec Financial Management Inc. increased its position in shares of Deere & by 0.7% in the second quarter. Parsec Financial Management Inc. now owns 48,527 shares of the industrial products company’s stock valued at $5,997,000 after buying an additional 320 shares in the last quarter. Busey Trust CO increased its position in shares of Deere & by 3.7% in the second quarter. Busey Trust CO now owns 8,616 shares of the industrial products company’s stock valued at $1,065,000 after buying an additional 305 shares in the last quarter. Daiwa Securities Group Inc. increased its position in shares of Deere & by 0.7% in the second quarter. Daiwa Securities Group Inc. now owns 7,650 shares of the industrial products company’s stock valued at $945,000 after buying an additional 50 shares in the last quarter. Finally, Spectrum Asset Management Inc. NB CA acquired a new position in shares of Deere & during the second quarter valued at approximately $210,000. 67.21% of the stock is currently owned by institutional investors.

Deere & Company (NYSE:DE) opened at 115.89 on Wednesday. Deere & Company has a 1-year low of $80.35 and a 1-year high of $132.50. The firm has a market cap of $37.18 billion, a price-to-earnings ratio of 19.25 and a beta of 0.67. The firm has a 50-day moving average price of $125.70 and a 200-day moving average price of $117.56.

Deere & (NYSE:DE) last released its earnings results on Friday, August 18th. The industrial products company reported $1.97 EPS for the quarter, beating the Zacks’ consensus estimate of $1.93 by $0.04. The business had revenue of $6.83 billion for the quarter, compared to analysts’ expectations of $6.92 billion. Deere & had a return on equity of 25.96% and a net margin of 6.81%. The firm’s revenue was up 16.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.55 earnings per share. On average, analysts expect that Deere & Company will post $6.52 earnings per share for the current fiscal year.

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Several research analysts have commented on the company. BidaskClub downgraded Deere & from a “hold” rating to a “sell” rating in a research report on Saturday. Piper Jaffray Companies set a $119.00 price objective on Deere & and gave the company a “hold” rating in a research report on Friday, August 25th. Stifel Nicolaus set a $135.00 price objective on Deere & and gave the company a “buy” rating in a research report on Wednesday, August 23rd. Argus restated a “buy” rating and set a $140.00 price objective on shares of Deere & in a research report on Tuesday, August 22nd. Finally, Credit Suisse Group cut Deere & from a “neutral” rating to an “outperform” rating in a research report on Tuesday, August 22nd. Three research analysts have rated the stock with a sell rating, sixteen have given a hold rating and nine have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $127.58.

In other Deere & news, insider Jean H. Gilles sold 8,015 shares of the company’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $129.99, for a total transaction of $1,041,869.85. Following the completion of the sale, the insider now directly owns 70,635 shares in the company, valued at $9,181,843.65. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Max A. Guinn sold 5,000 shares of the company’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $130.89, for a total transaction of $654,450.00. The disclosure for this sale can be found here. In the last three months, insiders sold 159,380 shares of company stock worth $19,694,934. 0.75% 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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Institutional Ownership by Quarter for Deere & (NYSE:DE)

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