Acadian Asset Management LLC Lowers Position in Deere & Company (DE)

Acadian Asset Management LLC decreased its stake in shares of Deere & Company (NYSE:DE) by 46.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,814 shares of the industrial products company’s stock after selling 2,480 shares during the period. Acadian Asset Management LLC’s holdings in Deere & Company were worth $307,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently made changes to their positions in the stock. Nadler Financial Group Inc. boosted its position in Deere & Company by 0.4% in the first quarter. Nadler Financial Group Inc. now owns 2,694 shares of the industrial products company’s stock valued at $293,000 after buying an additional 10 shares during the last quarter. Stock Yards Bank & Trust Co. boosted its position in Deere & Company by 0.4% in the first quarter. Stock Yards Bank & Trust Co. now owns 6,958 shares of the industrial products company’s stock valued at $757,000 after buying an additional 25 shares during the last quarter. Fairfield Bush & CO. boosted its position in Deere & Company by 1.3% in the third quarter. Fairfield Bush & CO. now owns 2,650 shares of the industrial products company’s stock valued at $226,000 after buying an additional 35 shares during the last quarter. Ledyard National Bank boosted its position in Deere & Company by 5.0% in the first quarter. Ledyard National Bank now owns 1,050 shares of the industrial products company’s stock valued at $114,000 after buying an additional 50 shares during the last quarter. Finally, First Financial Bank N.A. Trust Division boosted its position in Deere & Company by 0.8% in the first quarter. First Financial Bank N.A. Trust Division now owns 9,663 shares of the industrial products company’s stock valued at $1,052,000 after buying an additional 75 shares during the last quarter. Hedge funds and other institutional investors own 71.09% of the company’s stock.

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

Shares of Deere & Company (DE) opened at 125.95 on Friday. The stock has a market cap of $40.29 billion, a P/E ratio of 22.67 and a beta of 0.73. The firm’s 50-day moving average is $117.16 and its 200 day moving average is $109.44. Deere & Company has a 52-week low of $76.73 and a 52-week high of $127.04.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Friday, May 19th. The industrial products company reported $2.49 EPS for the quarter, beating the Zacks’ consensus estimate of $1.70 by $0.79. Deere & Company had a net margin of 5.72% and a return on equity of 21.97%. The company had revenue of $7.26 billion during the quarter, compared to the consensus estimate of $7.27 billion. During the same quarter in the prior year, the company posted $1.56 EPS. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. Analysts forecast that Deere & Company will post $6.29 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 1st. Stockholders of record on Friday, June 30th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date of this dividend is Wednesday, June 28th. Deere & Company’s payout ratio is currently 49.90%.

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A number of brokerages have commented on DE. Vetr raised shares of Deere & Company from a “hold” rating to a “buy” rating and set a $118.76 price objective for the company in a research note on Monday, March 27th. Wells Fargo & Co reaffirmed an “outperform” rating and set a $124.50 price target (up from $121.50) on shares of Deere & Company in a research note on Tuesday, February 21st. Credit Suisse Group AG set a $132.00 price target on shares of Deere & Company and gave the stock a “buy” rating in a research note on Wednesday, April 12th. Royal Bank of Canada reaffirmed a “hold” rating and set a $109.00 price target on shares of Deere & Company in a research note on Thursday, March 23rd. Finally, Barclays PLC reiterated a “sell” rating and set a $82.00 price objective (up previously from $80.00) on shares of Deere & Company in a report on Tuesday, April 18th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Deere & Company currently has an average rating of “Hold” and a consensus target price of $121.20.

In other news, CEO Samuel R. Allen sold 62,704 shares of the business’s stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $125.00, for a total transaction of $7,838,000.00. Following the completion of the sale, the chief executive officer now owns 333,492 shares in the company, valued at approximately $41,686,500. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Cory J. Reed sold 5,840 shares of the business’s stock in a transaction dated Friday, May 19th. The stock was sold at an average price of $119.59, for a total value of $698,405.60. Following the sale, the insider now owns 10,807 shares of the company’s stock, valued at approximately $1,292,409.13. The disclosure for this sale can be found here. Insiders have sold a total of 100,676 shares of company stock valued at $12,517,215 in the last quarter. Company insiders own 0.75% of the company’s stock.

About Deere & Company

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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