Russell Investments Group Ltd. Has $17.37 Million Position in Deere & Company (NYSE:DE)
Russell Investments Group Ltd. decreased its position in shares of Deere & Company (NYSE:DE) by 19.6% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 140,548 shares of the industrial products company’s stock after selling 34,317 shares during the period. Russell Investments Group Ltd.’s holdings in Deere & were worth $17,370,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Meag Munich Ergo Kapitalanlagegesellschaft MBH bought a new position in Deere & during the second quarter worth $2,700,000. Osborne Partners Capital Management LLC boosted its position in Deere & by 1.1% in the second quarter. Osborne Partners Capital Management LLC now owns 3,540 shares of the industrial products company’s stock worth $438,000 after buying an additional 40 shares during the last quarter. Gilbert & Cook Inc. boosted its position in Deere & by 1.9% in the second quarter. Gilbert & Cook Inc. now owns 2,631 shares of the industrial products company’s stock worth $325,000 after buying an additional 50 shares during the last quarter. Bridges Investment Counsel Inc. bought a new position in Deere & during the second quarter worth $847,000. Finally, Bridges Investment Management Inc. bought a new position in Deere & during the second quarter worth $216,000. 67.35% of the stock is currently owned by hedge funds and other institutional investors.
Deere & Company (DE) traded down 0.59% during trading on Friday, hitting $127.03. The stock had a trading volume of 1,299,879 shares. Deere & Company has a one year low of $76.73 and a one year high of $132.50. The firm has a 50 day moving average of $126.59 and a 200-day moving average of $116.50. The company has a market cap of $40.63 billion, a P/E ratio of 22.87 and a beta of 0.67.
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, beating the Zacks’ consensus estimate of $1.70 by $0.79. Deere & had a return on equity of 24.85% and a net margin of 6.52%. The business had revenue of $7.26 billion during the quarter, compared to analysts’ expectations of $7.27 billion. During the same period in the previous year, the firm posted $1.56 earnings per share. The company’s revenue was up 2.2% on a year-over-year basis. Equities analysts anticipate that Deere & Company will post $6.37 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 1st. Stockholders of record on Friday, June 30th were paid a $0.60 dividend. The ex-dividend date was Wednesday, June 28th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.88%. Deere &’s payout ratio is presently 43.24%.
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A number of research analysts have recently weighed in on the company. Jefferies Group LLC reaffirmed a “hold” rating and set a $125.00 price objective on shares of Deere & in a research report on Wednesday. Goldman Sachs Group, Inc. (The) assumed coverage on Deere & in a research report on Tuesday. They set a “buy” rating on the stock. BidaskClub cut Deere & from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Berenberg Bank lowered their price objective on Deere & from $100.00 to $90.00 and set a “sell” rating on the stock in a research report on Wednesday, June 28th. Finally, Citigroup Inc. boosted their price target on Deere & from $145.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, June 9th. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $122.60.
In related news, insider Cory J. Reed sold 4,936 shares of the business’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 transaction, the insider now directly owns 9,903 shares of the company’s stock, valued at approximately $1,267,584. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Samuel R. Allen sold 62,704 shares of the business’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 transaction, 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. Insiders sold 130,988 shares of company stock valued at $16,451,037 over the last ninety days. Insiders own 0.85% of the company’s stock.
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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