Decatur Capital Management Inc. Sells 1,051 Shares of Deere & Company (NYSE:DE)

Decatur Capital Management Inc. reduced its stake in Deere & Company (NYSE:DE) by 2.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 45,483 shares of the industrial products company’s stock after selling 1,051 shares during the period. Deere & Company makes up approximately 1.4% of Decatur Capital Management Inc.’s investment portfolio, making the stock its 28th biggest position. Decatur Capital Management Inc.’s holdings in Deere & Company were worth $7,537,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Dimensional Fund Advisors LP boosted its stake in Deere & Company by 4.7% in 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 boosted its stake in Deere & Company by 7.2% in 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. Macquarie Group Ltd. boosted its stake in Deere & Company by 18.9% in the 4th quarter. Macquarie Group Ltd. now owns 44,255 shares of the industrial products company’s stock worth $6,601,000 after buying an additional 7,047 shares during the last quarter. Indiana Trust & Investment Management CO acquired a new stake in Deere & Company in the 1st quarter worth about $212,000. Finally, Washington Trust Bank boosted its stake in Deere & Company by 11.2% in the 1st quarter. Washington Trust Bank now owns 40,841 shares of the industrial products company’s stock worth $6,528,000 after buying an additional 4,097 shares during the last quarter. Institutional investors and hedge funds own 68.04% of the company’s stock.

A number of analysts have issued reports on DE shares. Stifel Nicolaus decreased their price target on Deere & Company from $180.00 to $171.00 and set a “buy” rating on the stock in a research note on Monday, May 20th. Morgan Stanley raised their price target on Deere & Company from $158.00 to $172.00 and gave the stock an “overweight” rating in a research note on Friday, June 21st. Credit Suisse Group decreased their price target on Deere & Company from $209.00 to $176.00 and set an “outperform” rating on the stock in a research note on Monday, May 20th. Macquarie set a $132.00 price target on Deere & Company and gave the stock a “hold” rating in a research note on Monday, May 20th. Finally, Deutsche Bank decreased their price target on Deere & Company from $159.00 to $148.00 and set a “hold” rating on the stock in a research note on Monday, May 20th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and thirteen have assigned a buy rating to the stock. Deere & Company currently has an average rating of “Hold” and a consensus target price of $168.61.

Shares of NYSE DE traded down $2.51 during midday trading on Friday, hitting $158.70. The stock had a trading volume of 2,270,178 shares, compared to its average volume of 1,705,109. The company has a market cap of $51.10 billion, a P/E ratio of 16.90, a price-to-earnings-growth ratio of 1.98 and a beta of 1.10. Deere & Company has a 1-year low of $128.32 and a 1-year high of $171.22. The company has a quick ratio of 1.66, a current ratio of 1.94 and a debt-to-equity ratio of 2.37. The business has a fifty day moving average of $163.89.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Friday, May 17th. The industrial products company reported $3.52 earnings per share for the quarter, missing the consensus estimate of $3.57 by ($0.05). The firm had revenue of $10.27 billion during the quarter, compared to analyst estimates of $10.19 billion. Deere & Company had a net margin of 8.52% and a return on equity of 28.76%. The business’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period in the prior year, the firm earned $3.14 earnings per share. On average, sell-side analysts anticipate that Deere & Company will post 10.23 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Friday, June 28th were paid a $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 1.92%. The ex-dividend date was Thursday, June 27th. Deere & Company’s dividend payout ratio is currently 32.37%.

In other news, COO John C. May II sold 16,468 shares of Deere & Company stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $163.21, for a total value of $2,687,742.28. Following the transaction, the chief operating officer now directly 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 Securities & Exchange Commission, which is accessible through the SEC website. Also, COO John C. May II sold 5,228 shares of Deere & Company stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $170.00, for a total value of $888,760.00. Following the completion of the transaction, the chief operating officer now directly owns 49,310 shares in the company, valued at $8,382,700. The disclosure for this sale can be found here. Insiders own 0.71% of the company’s stock.

About Deere & Company

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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