Reynders McVeigh Capital Management LLC Has $863,000 Stake in Deere & Company (NYSE:DE)

Reynders McVeigh Capital Management LLC decreased its stake in shares of Deere & Company (NYSE:DE) by 2.8% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 5,206 shares of the industrial products company’s stock after selling 150 shares during the period. Reynders McVeigh Capital Management LLC’s holdings in Deere & Company were worth $863,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its stake in shares of Deere & Company by 4.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,123,218 shares of the industrial products company’s stock worth $167,531,000 after buying an additional 49,932 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Deere & Company by 7.2% during the 4th quarter. Geode Capital Management LLC now owns 3,655,571 shares of the industrial products company’s stock worth $544,229,000 after buying an additional 244,266 shares during the last quarter. CWM LLC raised its stake in shares of Deere & Company by 4.2% during the 1st quarter. CWM LLC now owns 2,531 shares of the industrial products company’s stock worth $405,000 after buying an additional 103 shares during the last quarter. Boston Advisors LLC raised its stake in shares of Deere & Company by 2.6% during the 1st quarter. Boston Advisors LLC now owns 12,963 shares of the industrial products company’s stock worth $2,072,000 after buying an additional 327 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV acquired a new position in shares of Deere & Company during the 1st quarter worth $887,000. 67.67% of the stock is currently owned by hedge funds and other institutional investors.

In other news, COO John C. May II sold 16,468 shares of the company’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $163.21, for a total transaction of $2,687,742.28. Following the completion of the transaction, the chief operating officer now owns 60,550 shares of the company’s stock, valued at approximately $9,882,365.50. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO John C. May II sold 5,228 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $170.00, for a total transaction of $888,760.00. Following the transaction, the chief operating officer now directly owns 49,310 shares of the company’s stock, valued at approximately $8,382,700. The disclosure for this sale can be found here. Insiders own 0.71% of the company’s stock.

DE stock traded down $8.35 during trading on Friday, hitting $147.02. The stock had a trading volume of 2,603,420 shares, compared to its average volume of 2,182,088. The company’s 50 day moving average price is $159.51 and its two-hundred day moving average price is $158.21. Deere & Company has a 1-year low of $128.32 and a 1-year high of $171.22. The stock has a market cap of $49.09 billion, a price-to-earnings ratio of 15.66, a price-to-earnings-growth ratio of 2.32 and a beta of 1.10. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.73 and a current ratio of 1.99.

Deere & Company (NYSE:DE) last announced its earnings results on Friday, August 16th. The industrial products company reported $2.71 earnings per share for the quarter, missing the consensus estimate of $2.80 by ($0.09). Deere & Company had a net margin of 8.55% and a return on equity of 27.75%. The firm had revenue of $8.97 billion during the quarter, compared to analyst estimates of $9.38 billion. During the same period in the previous year, the firm posted $2.59 EPS. The company’s revenue for the quarter was down 3.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Deere & Company will post 9.98 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Friday, June 28th were paid a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 2.07%. The ex-dividend date was Thursday, June 27th. Deere & Company’s payout ratio is 32.37%.

Several research analysts have recently issued reports on the company. Robert W. Baird cut their price target on Deere & Company from $170.00 to $150.00 and set a “positive” rating for the company in a research note on Tuesday, August 13th. Vertical Research downgraded Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday, May 20th. JPMorgan Chase & Co. downgraded Deere & Company from a “neutral” rating to an “underweight” rating and cut their price target for the stock from $154.00 to $132.00 in a research note on Tuesday, May 14th. BMO Capital Markets reaffirmed an “outperform” rating and set a $175.00 price target (down previously from $195.00) on shares of Deere & Company in a research note on Monday, May 27th. Finally, Stifel Nicolaus cut their price target on Deere & Company from $180.00 to $171.00 and set a “buy” rating for the company in a research note on Monday, May 20th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and thirteen have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $166.89.

Deere & Company Company Profile

Deere & Company manufactures and distributes various equipment worldwide. The company operates through three segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment offers agriculture and turf equipment, and related parts, including large, medium, and utility tractors; tractor loaders; combines, cotton pickers, cotton strippers, and sugarcane harvesters; harvesting front-end equipment; sugarcane loaders and pull-behind scrapers; and tillage, seeding, and application equipment.

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Institutional Ownership by Quarter for Deere & Company (NYSE:DE)

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