Pastel & Associes SA Sells 31,500 Shares of Deere & Company (DE)
Pastel & Associes SA decreased its position in shares of Deere & Company (NYSE:DE) by 22.2% during the second quarter, Holdings Channel reports. The fund owned 110,350 shares of the industrial products company’s stock after selling 31,500 shares during the period. Deere & accounts for 18.4% of Pastel & Associes SA’s portfolio, making the stock its largest position. Pastel & Associes SA’s holdings in Deere & were worth $13,638,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also modified their holdings of DE. Kistler Tiffany Companies LLC raised its stake in Deere & by 0.4% in the first quarter. Kistler Tiffany Companies LLC now owns 2,023 shares of the industrial products company’s stock worth $220,000 after buying an additional 8 shares during the period. Guardian Life Insurance Co. of America raised its stake in 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. RMB Capital Management LLC raised its stake in Deere & by 0.6% in the first quarter. RMB Capital Management LLC now owns 3,329 shares of the industrial products company’s stock worth $362,000 after buying an additional 19 shares during the period. Legacy Capital Partners Inc. raised its stake in Deere & by 0.4% in the first quarter. Legacy Capital Partners Inc. now owns 6,620 shares of the industrial products company’s stock worth $721,000 after buying an additional 25 shares during the period. Finally, Endurance Wealth Management Inc. raised its stake in 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. Institutional investors and hedge funds own 67.35% of the company’s stock.
Shares of Deere & Company (NYSE:DE) traded down 1.13% during trading on Thursday, hitting $130.92. The stock had a trading volume of 559,224 shares. The company has a market cap of $41.88 billion, a P/E ratio of 23.57 and a beta of 0.67. Deere & Company has a 12 month low of $76.73 and a 12 month high of $132.50. The stock has a 50-day moving average price of $126.50 and a 200 day moving average price of $116.42. Deere & also was the recipient of unusually large options trading on Monday. Stock investors acquired 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 issued its quarterly earnings data on Friday, May 19th. The industrial products company reported $2.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.70 by $0.79. The firm had revenue of $7.26 billion during the quarter, compared to analysts’ expectations of $7.27 billion. Deere & had a return on equity of 24.85% and a net margin of 6.52%. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.56 EPS. Equities analysts expect that Deere & Company will post $6.37 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 1st. Investors of record on Friday, June 30th were paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date was Wednesday, June 28th. Deere &’s dividend payout ratio (DPR) is currently 43.24%.
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A number of analysts have recently weighed in on DE shares. Deutsche Bank AG increased their price objective on Deere & from $122.00 to $135.00 and gave the company a “hold” rating in a research note on Monday, May 22nd. Goldman Sachs Group, Inc. (The) raised Deere & from a “buy” rating to a “conviction-buy” rating and set a $129.75 price objective for the company in a research note on Monday. Credit Suisse Group set a $132.00 price objective on Deere & and gave the company a “buy” rating in a research note on Wednesday, April 12th. Barclays PLC reissued a “sell” rating and set a $82.00 price objective (up previously from $80.00) on shares of Deere & in a research note on Tuesday, April 18th. Finally, J P Morgan Chase & Co raised Deere & to an “underweight” rating and increased their price objective for the company from $90.00 to $94.00 in a research note on Monday, May 1st. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating and thirteen have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $122.60.
In related news, insider Cory J. Reed sold 4,936 shares of the company’s stock in a transaction on Friday, June 16th. The stock was sold at an average price of $128.00, for a total transaction of $631,808.00. Following the completion of the sale, the insider now directly owns 9,903 shares in the company, valued at approximately $1,267,584. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Samuel R. Allen sold 62,704 shares of the company’s stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $125.00, for a total value 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 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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