Westpac Banking Corp grew its position in Deere & Company (NYSE:DE) by 17.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 25,608 shares of the industrial products company’s stock after buying an additional 3,841 shares during the period. Westpac Banking Corp’s holdings in Deere & Company were worth $4,244,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of DE. JPMorgan Chase & Co. raised its holdings in Deere & Company by 67.0% in the first quarter. JPMorgan Chase & Co. now owns 3,733,015 shares of the industrial products company’s stock worth $596,683,000 after buying an additional 1,497,433 shares during the last quarter. FMR LLC raised its holdings in Deere & Company by 13.6% in the first quarter. FMR LLC now owns 8,713,051 shares of the industrial products company’s stock worth $1,392,694,000 after buying an additional 1,043,039 shares during the last quarter. Janus Henderson Group PLC raised its holdings in Deere & Company by 47.6% in the first quarter. Janus Henderson Group PLC now owns 2,749,227 shares of the industrial products company’s stock worth $439,432,000 after buying an additional 886,561 shares during the last quarter. Thoroughbred Financial Services LLC raised its holdings in Deere & Company by 16,471.0% in the second quarter. Thoroughbred Financial Services LLC now owns 296,289 shares of the industrial products company’s stock worth $29,629,000 after buying an additional 294,501 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in Deere & Company by 7.2% in the fourth 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. 67.85% of the stock is owned by institutional investors and hedge funds.

In other Deere & Company news, COO John C. May II sold 16,468 shares of the company’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $163.21, for a total transaction of $2,687,742.28. Following the completion of the sale, the chief operating officer now directly owns 60,550 shares of the company’s stock, valued at $9,882,365.50. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO John C. May II sold 5,228 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $170.00, for a total transaction of $888,760.00. Following the sale, the chief operating officer now directly owns 49,310 shares of the company’s stock, valued at $8,382,700. The disclosure for this sale can be found here. 0.71% of the stock is currently owned by corporate insiders.

Several research analysts have issued reports on DE shares. Robert W. Baird decreased their target price on shares of Deere & Company from $170.00 to $150.00 and set a “positive” rating for the company in a report on Tuesday. Vertical Research cut shares of Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, May 20th. Macquarie set a $132.00 target price on shares of Deere & Company and gave the stock a “hold” rating in a report on Monday, May 20th. Jefferies Financial Group raised shares of Deere & Company from a “hold” rating to a “buy” rating and lifted their target price for the stock from $150.00 to $190.00 in a report on Monday, June 24th. Finally, Royal Bank of Canada decreased their target price on shares of Deere & Company from $190.00 to $175.00 and set an “outperform” rating for the company in a report on Monday, May 20th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and thirteen have given a buy rating to the stock. Deere & Company currently has a consensus rating of “Hold” and an average price target of $167.21.

DE opened at $149.23 on Friday. 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 firm has a 50 day moving average price of $161.38 and a 200-day moving average price of $158.55. Deere & Company has a twelve month low of $128.32 and a twelve month high of $171.22. The stock has a market capitalization of $45.38 billion, a price-to-earnings ratio of 15.89, a PEG ratio of 1.77 and a beta of 1.10.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Friday, August 16th. The industrial products company reported $2.71 earnings per share for the quarter, missing the consensus estimate of $2.80 by ($0.09). Deere & Company had a net margin of 8.52% and a return on equity of 28.76%. The company had revenue of $8.97 billion for the quarter, compared to analysts’ expectations of $9.38 billion. During the same period in the previous year, the firm earned $2.59 earnings per share. The firm’s revenue for the quarter was down 3.4% on a year-over-year basis. As a group, analysts expect that Deere & Company will post 10.19 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Friday, June 28th were issued a dividend of $0.76 per share. The ex-dividend date was Thursday, June 27th. This represents a $3.04 dividend on an annualized basis and a yield of 2.04%. Deere & Company’s dividend payout ratio is currently 32.37%.

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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