Several hedge funds and institutional investors have recently added to or reduced their stakes in the stock. Berkshire Hathaway Inc. now owns 22,884,150 shares of the company’s stock valued at $1,745,375,000 after buying an additional 5,832,040 shares during the period. Exane Derivatives increased its position in Deere & Co.by 4.6% in the first quarter. Iowa State Bank purchased a new position in Deere & Co. during the second quarter valued at about $151,000. Generation Investment Management LLP now owns 6,101,813 shares of the company’s stock valued at $465,385,000 after buying an additional 1,457,917 shares during the period. First National Bank of Omaha now owns 9,316 shares of the company’s stock worth $755,000 after buying an additional 42 shares during the last quarter.
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A number of other analysts have also issued reports on DE. Robert W. Baird restated a hold rating on shares of Deere & Co.in a report on Monday, May 16th.
Jefferies Group reissued their hold rating on shares of Deere & Co.
TheStreet Ratings rated this stock as a “buy” with a ratings score of B. Analyst expected twelve month price target of $77.89. The 52 week high Deere & Company’s shares have peaked at is 88.2 whilst the 52 week low for the company’s shares is 70.16. At the time of closing bell, the shares were traded at $87.32, up 13.49%. The company’s 50-day moving average is $79.87 and its 200-day moving average is $80.95. The Market Capitalization of the company stands at 27.51 Billion.
Deere & Co. (NYSE:DE) last posted its quarterly earnings results on Friday, August 19th.
For the quarter that ended July, the world’s biggest farm equipment manufacturer reported net income of $488.8 million, or $1.55 per share, which easily beat consensus estimates of 61 cents, according to Thomson Reuters. The firm’s revenue was down 14.3% compared to the same quarter past year.
Third quarter revenue came to $5.86 billion, down 14% from $6.84 billion a year ago and missing estimates by $230 million. Equities analysts forecast that Deere & Co. will post $3.99 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, August 1st. This represents a $2.40 annualized dividend and a yield of 2.75%. The company’s management has announced Sep 12, 2016 as the ex-dividend date and fixed the record date on Sep 14, 2016.
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The Company operates in seven business segments: Personal Systems Printing the Enterprise Group Enterprise Services Software HP Financial Services and Corporate Investments. The company’s Agriculture and Turf segment provides agriculture and turf equipment, and related service parts, counting large, medium, and utility tractors; loaders; combines, corn pickers, cotton and sugarcane harvesters, and related front-end equipment and sugarcane loaders; and tillage, seeding, and application equipment, counting sprayers, nutrient administration, and soil preparation machinery.
