Cohen Capital Management Inc. Increases Position in Deere & Co. (DE)
Cohen Capital Management Inc. raised its position in shares of Deere & Co. (NYSE:DE) by 1.0% during the third quarter, Holdings Channel reports. The firm owned 25,734 shares of the company’s stock after buying an additional 250 shares during the period. Cohen Capital Management Inc.’s holdings in Deere & Co. were worth $2,196,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Euclid Advisors LLC acquired a new position in shares of Deere & Co. during the first quarter worth about $1,170,000. Summit Financial Wealth Advisors LLC raised its position in shares of Deere & Co. by 47.8% in the second quarter. Summit Financial Wealth Advisors LLC now owns 9,870 shares of the company’s stock worth $800,000 after buying an additional 3,190 shares during the period. Iowa State Bank acquired a new position in shares of Deere & Co. during the second quarter worth about $151,000. First National Bank & Trust Co. of Newtown acquired a new position in shares of Deere & Co. during the second quarter worth about $202,000. Finally, Marshwinds Advisory Co. raised its position in shares of Deere & Co. by 5.7% in the second quarter. Marshwinds Advisory Co. now owns 10,276 shares of the company’s stock worth $833,000 after buying an additional 550 shares during the period. Hedge funds and other institutional investors own 71.68% of the company’s stock.
Shares of Deere & Co. (NYSE:DE) traded down 1.33% during trading on Tuesday, hitting $100.35. The stock had a trading volume of 5,902,405 shares. The firm has a market cap of $31.59 billion, a price-to-earnings ratio of 20.86 and a beta of 0.71. Deere & Co. has a 12-month low of $70.16 and a 12-month high of $104.83. The stock has a 50-day moving average of $89.76 and a 200 day moving average of $84.31.
Deere & Co. (NYSE:DE) last released its earnings results on Wednesday, November 23rd. The company reported $0.90 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.50. The firm earned $6.52 billion during the quarter. Deere & Co. had a return on equity of 21.54% and a net margin of 5.72%. The business’s revenue for the quarter was down 4.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.08 earnings per share. On average, analysts predict that Deere & Co. will post $4.32 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 1st. Investors of record on Friday, September 30th were paid a $0.60 dividend. The ex-dividend date was Wednesday, September 28th. This represents a $2.40 annualized dividend and a yield of 2.39%. Deere & Co.’s payout ratio is currently 49.90%.
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DE has been the topic of a number of recent analyst reports. Vetr upgraded Deere & Co. from a “hold” rating to a “buy” rating and set a $80.57 target price on the stock in a research report on Monday, August 15th. BMO Capital Markets reiterated an “outperform” rating and set a $96.00 target price on shares of Deere & Co. in a research report on Thursday, August 18th. Jefferies Group restated a “hold” rating and issued a $70.00 price objective on shares of Deere & Co. in a report on Friday, August 19th. Morgan Stanley raised their price objective on Deere & Co. from $70.00 to $76.00 and gave the company an “underweight” rating in a report on Monday, August 22nd. Finally, Barclays PLC restated an “underweight” rating and issued a $63.00 price objective on shares of Deere & Co. in a report on Monday, August 22nd. Five investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and ten have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $90.24.
In related news, insider Max A. Guinn sold 36,402 shares of the company’s stock in a transaction on Friday, November 25th. The stock was sold at an average price of $102.94, for a total value of $3,747,221.88. Following the completion of the transaction, the insider now directly owns 55,427 shares in the company, valued at $5,705,655.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John C. May II sold 18,614 shares of the company’s stock in a transaction on Wednesday, November 23rd. The shares were sold at an average price of $96.46, for a total value of $1,795,506.44. Following the completion of the transaction, the insider now owns 28,926 shares of the company’s stock, valued at $2,790,201.96. The disclosure for this sale can be found here. 0.75% of the stock is owned by corporate insiders.
About Deere & Co.
Deere & Company is engaged in equipment operations and financial services. The Company operates through three business segments: agriculture and turf, construction and forestry, and financial services. The Company’s agriculture and turf segment primarily manufactures and distributes a full line of agriculture and turf equipment and related service parts.
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