Liberty Mutual Group Asset Management Inc. Has $1.76 Million Position in Deere & Company (DE)

Liberty Mutual Group Asset Management Inc. cut its stake in shares of Deere & Company (NYSE:DE) by 22.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 16,149 shares of the industrial products company’s stock after selling 4,570 shares during the period. Liberty Mutual Group Asset Management Inc.’s holdings in Deere & were worth $1,759,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of DE. Vanguard Group Inc. increased its stake in shares of Deere & by 8.2% in the first quarter. Vanguard Group Inc. now owns 20,440,278 shares of the industrial products company’s stock valued at $2,225,128,000 after buying an additional 1,541,004 shares during the last quarter. First Eagle Investment Management LLC increased its stake in shares of Deere & by 5.1% in the first quarter. First Eagle Investment Management LLC now owns 6,652,623 shares of the industrial products company’s stock valued at $724,205,000 after buying an additional 322,158 shares during the last quarter. Loomis Sayles & Co. L P increased its stake in shares of Deere & by 0.5% in the first quarter. Loomis Sayles & Co. L P now owns 5,860,666 shares of the industrial products company’s stock valued at $637,992,000 after buying an additional 26,303 shares during the last quarter. Primecap Management Co. CA increased its stake in shares of Deere & by 2.8% in the first quarter. Primecap Management Co. CA now owns 5,518,919 shares of the industrial products company’s stock valued at $600,790,000 after buying an additional 151,200 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Deere & by 11.2% in the first quarter. Geode Capital Management LLC now owns 2,794,419 shares of the industrial products company’s stock valued at $303,767,000 after buying an additional 282,029 shares during the last quarter. 67.33% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company (NYSE DE) opened at 126.55 on Tuesday. The stock has a 50 day moving average of $125.38 and a 200-day moving average of $114.48. The firm has a market cap of $40.48 billion, a price-to-earnings ratio of 22.78 and a beta of 0.66. Deere & Company has a 52-week low of $76.73 and a 52-week high of $129.00. Deere & also saw unusually large options trading activity on Monday. Investors bought 731 call options on the stock. This represents an increase of 255% compared to the average daily volume of 206 call options.

Deere & (NYSE:DE) last announced its earnings results on Friday, May 19th. The industrial products company reported $2.49 EPS for the quarter, topping the consensus estimate of $1.70 by $0.79. Deere & had a net margin of 6.52% and a return on equity of 24.85%. The company had revenue of $7.26 billion during the quarter, compared to analysts’ expectations of $7.27 billion. During the same period last year, the company posted $1.56 earnings per share. The business’s revenue for the quarter was up 2.2% on a year-over-year basis. On average, analysts expect that Deere & Company will post $6.30 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 1st. Shareholders of record on Friday, June 30th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 1.90%. The ex-dividend date of this dividend is Wednesday, June 28th. Deere &’s payout ratio is 43.24%.

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A number of analysts recently commented on DE shares. BidaskClub downgraded shares of Deere & from a “buy” rating to a “hold” rating in a report on Wednesday, June 28th. Barclays PLC boosted their price objective on shares of Deere & from $82.00 to $90.00 and gave the stock a “sell” rating in a report on Monday, May 22nd. Credit Suisse Group set a $132.00 price objective on shares of Deere & and gave the stock a “buy” rating in a report on Wednesday, April 12th. BMO Capital Markets boosted their price objective on shares of Deere & from $128.00 to $140.00 and gave the stock an “outperform” rating in a report on Tuesday, May 30th. Finally, Stifel Nicolaus started coverage on shares of Deere & in a report on Monday, April 10th. They set a “buy” rating and a $126.00 price objective on the stock. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Deere & currently has a consensus rating of “Hold” and a consensus price target of $122.24.

In other Deere & news, insider Cory J. Reed sold 5,840 shares of the firm’s stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $119.59, for a total value of $698,405.60. Following the completion of the transaction, the insider now directly owns 10,807 shares in the company, valued at $1,292,409.13. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Marc A. Howze sold 6,624 shares of the firm’s stock in a transaction dated Friday, May 19th. The stock was sold at an average price of $119.59, for a total transaction of $792,164.16. Following the completion of the transaction, the vice president now owns 9,004 shares of the company’s stock, valued at $1,076,788.36. The disclosure for this sale can be found here. Over the last quarter, insiders sold 105,612 shares of company stock valued at $13,149,023. Corporate insiders own 0.75% of the company’s stock.

Deere & Company Profile

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




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