Amalgamated Bank Sells 3,802 Shares of Deere & Company (NYSE:DE)

Amalgamated Bank reduced its holdings in shares of Deere & Company (NYSE:DE) by 6.8% in the second quarter, according to its most recent filing with the SEC. The fund owned 52,148 shares of the industrial products company’s stock after selling 3,802 shares during the period. Amalgamated Bank’s holdings in Deere & Company were worth $19,484,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Oppenheimer Asset Management Inc. lifted its stake in shares of Deere & Company by 20.5% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 15,808 shares of the industrial products company’s stock worth $5,906,000 after acquiring an additional 2,692 shares during the last quarter. Harbor Investment Advisory LLC increased its holdings in Deere & Company by 27.4% during the 1st quarter. Harbor Investment Advisory LLC now owns 1,730 shares of the industrial products company’s stock worth $710,000 after purchasing an additional 372 shares during the period. Brevan Howard Capital Management LP increased its holdings in Deere & Company by 857.9% during the 4th quarter. Brevan Howard Capital Management LP now owns 7,654 shares of the industrial products company’s stock worth $3,061,000 after purchasing an additional 6,855 shares during the period. Aviance Capital Partners LLC purchased a new position in Deere & Company during the 1st quarter worth $2,783,000. Finally, Oxford Financial Group LTD. LLC increased its holdings in Deere & Company by 2.9% during the 4th quarter. Oxford Financial Group LTD. LLC now owns 1,827 shares of the industrial products company’s stock worth $731,000 after purchasing an additional 51 shares during the period. 68.58% of the stock is owned by institutional investors.

Insider Buying and Selling at Deere & Company

In other Deere & Company news, insider Cory J. Reed sold 13,370 shares of the business’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $377.63, for a total transaction of $5,048,913.10. Following the sale, the insider now owns 41,642 shares in the company, valued at approximately $15,725,268.46. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.26% of the company’s stock.

Deere & Company Trading Up 0.8 %

Shares of NYSE:DE opened at $397.91 on Wednesday. The business’s 50-day moving average is $373.48 and its 200 day moving average is $382.05. Deere & Company has a 1 year low of $340.20 and a 1 year high of $417.46. The firm has a market capitalization of $109.65 billion, a P/E ratio of 11.98, a P/E/G ratio of 1.29 and a beta of 0.92. The company has a debt-to-equity ratio of 1.85, a current ratio of 2.07 and a quick ratio of 1.87.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share for the quarter, beating the consensus estimate of $5.63 by $0.66. The business had revenue of $11.39 billion for the quarter, compared to the consensus estimate of $10.94 billion. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The company’s quarterly revenue was down 20.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $10.20 EPS. On average, research analysts predict that Deere & Company will post 25.07 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Monday, September 30th will be paid a dividend of $1.47 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $5.88 annualized dividend and a yield of 1.48%. Deere & Company’s payout ratio is presently 17.70%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Deutsche Bank Aktiengesellschaft reduced their price objective on Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a report on Thursday, August 8th. Evercore ISI raised their price objective on Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a report on Monday, August 19th. Morgan Stanley reduced their price objective on Deere & Company from $450.00 to $425.00 and set an “overweight” rating on the stock in a report on Monday, August 26th. Oppenheimer reduced their price objective on Deere & Company from $465.00 to $448.00 and set an “outperform” rating on the stock in a report on Monday, July 22nd. Finally, HSBC downgraded Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, August 19th. Fourteen research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $409.88.

Deere & Company Company Profile

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.