Gulf International Bank UK Ltd Boosts Stake in Deere & Company (NYSE:DE)

Deere tractor

Deere tractor

The Chairman now owns $33,848,440 of the stock per the Form 4 SEC filing. PGGM Investments acquired a new stake in Deere & during the first quarter worth approximately $26,179,000. The dividend was $0.600 per share for the quarter which is $2.40 annualized. The investment company owned 12,267,999 stocks of the industrial products firms shares after scooping up an extra 45,695 shares through out the quarter. Finally, Burney Co. boosted its position in shares of Deere & by 1.8% in the first quarter.

Shares of Deere & Company (NYSE:DE) traded down 5.38% during mid-day trading on Friday, reaching $117.31. Institutional investors and hedge funds own 67.91% of the company's stock.

Total shares held by institutions as of the most recent company filings are 239,102,819 with a reported 20,694,152 bought and 28,486,909 sold. The company has a market capitalization of $37.52 billion, a P/E ratio of 21.12 and a beta of 0.67.

It is now trading at $117.31 which is much lower than the 50 day moving average which is $126.94 and just a bit higher than the 200 day moving average of $117.25. Deere & Company has a 52-week low of $80.35 and a 52-week high of $132.50. The company's for the quarter end, revenue was upwards of 2.2% compared with the same period in the prior year. The industrial products company reported $1.97 EPS for the quarter, topping the consensus estimate of $1.93 by $0.04. Third-quarter sales of farm machinery rose 13% to $5.3 billion.

Deere said it continued to expect its full-year farm equipment sales in the United States and Canada, its biggest markets, to be down about 5 percent, partly due to continuing impact of low crop prices. Five analysts surveyed by Zacks expected $6.88 billion.

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Vanguard Group Inc is the second biggest holder with 20 million shares now valued at 2.23 B million whilst Viking Global Investors LP has 14 million shares valued at 1.57 B million. The ex-dividend date was Wednesday, June 28th. Deere &'s dividend payout ratio is 43.24%. If you are reading this story on another publication, it was copied illegally and reposted in violation of global trademark & copyright law.

A number of equities research analysts have commented on DE shares. Analyst Mircea Dobre cut his rating to neutral, after being at outperform since October 31, and dropped his stock price target to $130 from $140.

On August 18 the company was downgraded from "Outperform" to "Outperform" with a current price target of $150.00 in a report issued by Baird. JP Morgan raised the price target and upgraded the stock on June 2 boosting the price target from $84.00 to $122.00 and changing the rating from "Underweight" to "Neutral". TheStreet upgraded Deere & from a "c+" rating to an "a-" rating in a research note on Friday, May 19th. Deere & presently has a consensus rating of "Hold" and a consensus price target of $123.12.

In other news, insider Jean H. Gilles sold 8,015 shares of the firm's stock in a transaction that occurred on Monday, August 7th.

On 6/16/2017 Cory J Reed, Insider, sold 4,936 with an average share price of $128.00 per share and the total transaction amounting to $631,808.00. RMB Capital Management has an ownership of 3,329 stocks of the industrial products firms shares valued at $362,000 after scooping up an extra 19 stocks in the previous period. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The stock has a average recommendation of "Hold" and an average price objective of $123.26. These holdings make up 74.73% of the company's outstanding shares. The disclosure for this sale can be found here. Following the completion of the transaction, the insider now directly owns 10,568 shares in the company, valued at $1,299,864.

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