Acadian Asset Management LLC Has $14.09 Million Position in Deere & Company (NYSE:DE)

Acadian Asset Management LLC reduced its position in shares of Deere & Company (NYSE:DE) by 25.4% in the 1st quarter, Holdings Channel reports. The institutional investor owned 37,658 shares of the industrial products company’s stock after selling 12,799 shares during the quarter. Acadian Asset Management LLC’s holdings in Deere & Company were worth $14,090,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Diamant Asset Management Inc. raised its holdings in Deere & Company by 2.3% during the first quarter. Diamant Asset Management Inc. now owns 1,217 shares of the industrial products company’s stock worth $455,000 after acquiring an additional 27 shares in the last quarter. TCI Wealth Advisors Inc. raised its stake in Deere & Company by 2.2% in the first quarter. TCI Wealth Advisors Inc. now owns 1,327 shares of the industrial products company’s stock valued at $496,000 after buying an additional 29 shares during the period. Choate Investment Advisors raised its stake in Deere & Company by 0.8% in the first quarter. Choate Investment Advisors now owns 3,621 shares of the industrial products company’s stock valued at $1,355,000 after buying an additional 29 shares during the period. Foster Group Inc. raised its stake in Deere & Company by 2.4% in the first quarter. Foster Group Inc. now owns 1,296 shares of the industrial products company’s stock valued at $485,000 after buying an additional 30 shares during the period. Finally, ProVise Management Group LLC raised its stake in Deere & Company by 2.2% in the first quarter. ProVise Management Group LLC now owns 1,380 shares of the industrial products company’s stock valued at $516,000 after buying an additional 30 shares during the period. 66.56% of the stock is owned by institutional investors.

In other Deere & Company news, CEO John C. May II sold 39,336 shares of the firm’s stock in a transaction on Wednesday, June 2nd. The stock was sold at an average price of $359.07, for a total value of $14,124,377.52. Following the sale, the chief executive officer now owns 78,949 shares of the company’s stock, valued at approximately $28,348,217.43. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Tami A. Erwin bought 275 shares of Deere & Company stock in a transaction on Wednesday, June 2nd. The stock was acquired at an average cost of $359.61 per share, for a total transaction of $98,892.75. The disclosure for this purchase can be found here. Company insiders own 0.31% of the company’s stock.

DE has been the topic of several research analyst reports. Robert W. Baird upped their price objective on Deere & Company from $375.00 to $425.00 and gave the company an “outperform” rating in a research note on Thursday, May 13th. Citigroup upped their price objective on Deere & Company from $400.00 to $415.00 and gave the company a “buy” rating in a research note on Friday, May 14th. Oppenheimer upped their price objective on Deere & Company from $331.00 to $380.00 and gave the company an “outperform” rating in a research note on Monday, February 22nd. Wolfe Research started coverage on Deere & Company in a research note on Monday, April 19th. They issued an “outperform” rating and a $425.00 price objective on the stock. Finally, Evercore ISI upped their target price on Deere & Company from $389.00 to $455.00 in a research report on Wednesday, May 12th. Five analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $352.22.

Shares of NYSE:DE opened at $341.44 on Friday. The firm has a market capitalization of $106.51 billion, a P/E ratio of 23.53, a P/E/G ratio of 0.99 and a beta of 1.04. Deere & Company has a 1 year low of $148.12 and a 1 year high of $400.34. The company has a quick ratio of 2.05, a current ratio of 2.29 and a debt-to-equity ratio of 2.21. The business’s 50 day moving average is $371.30.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, May 20th. The industrial products company reported $5.68 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $4.44 by $1.24. The business had revenue of $11 billion for the quarter, compared to the consensus estimate of $10.27 billion. Deere & Company had a return on equity of 33.31% and a net margin of 11.51%. The firm’s quarterly revenue was up 33.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.11 earnings per share. Sell-side analysts predict that Deere & Company will post 17.89 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 9th. Shareholders of record on Wednesday, June 30th will be issued a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date of this dividend is Tuesday, June 29th. Deere & Company’s dividend payout ratio is presently 41.43%.

Deere & Company Profile

Deere & Company, together with its subsidiaries, 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 provides various agriculture and turf equipment, and related service 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; tillage, seeding, and application equipment comprising sprayers, nutrient management, and soil preparation machinery; self-propelled forage harvesters and attachments, balers, and mowers; riding lawn equipment, golf course equipment, utility vehicles, and commercial mowing equipment along with associated implements; integrated agricultural solutions and precision technologies; and other outdoor power products.

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

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