Bank of New York Mellon Corp Has $752.47 Million Stock Holdings in Deere & Company (NYSE:DE)

Bank of New York Mellon Corp lessened its stake in shares of Deere & Company (NYSE:DE - Free Report) by 1.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,013,941 shares of the industrial products company's stock after selling 23,384 shares during the quarter. Bank of New York Mellon Corp owned 0.73% of Deere & Company worth $752,469,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC raised its holdings in shares of Deere & Company by 15.9% during the fourth quarter. International Assets Investment Management LLC now owns 2,102 shares of the industrial products company's stock worth $841,000 after acquiring an additional 288 shares in the last quarter. Duality Advisers LP acquired a new stake in shares of Deere & Company in the 4th quarter valued at approximately $461,000. Bfsg LLC acquired a new stake in Deere & Company during the fourth quarter worth approximately $30,000. Bailard Inc. raised its holdings in shares of Deere & Company by 156.4% during the 4th quarter. Bailard Inc. now owns 4,030 shares of the industrial products company's stock worth $1,611,000 after buying an additional 2,458 shares in the last quarter. Finally, Syon Capital LLC grew its stake in shares of Deere & Company by 20.5% in the fourth quarter. Syon Capital LLC now owns 1,665 shares of the industrial products company's stock worth $666,000 after purchasing an additional 283 shares during the last quarter. 68.58% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. BMO Capital Markets initiated coverage on Deere & Company in a report on Friday, August 9th. They set a "market perform" rating and a $400.00 target price for the company. TD Cowen boosted their target price on Deere & Company from $383.00 to $390.00 and gave the stock a "hold" rating in a research report on Friday, May 17th. Hsbc Global Res lowered shares of Deere & Company from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 19th. Citigroup decreased their price objective on Deere & Company from $395.00 to $370.00 and set a "neutral" rating for the company in a report on Tuesday, August 13th. Finally, Stifel Nicolaus increased their price objective on shares of Deere & Company from $425.00 to $450.00 and gave the company a "buy" rating in a research report on Friday, May 17th. Fourteen analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $414.11.

Insider Transactions at Deere & Company

In related news, insider Cory J. Reed sold 13,370 shares of the firm's stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $377.63, for a total value of $5,048,913.10. Following the completion of the transaction, the insider now directly owns 41,642 shares of the company's stock, valued at approximately $15,725,268.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.26% of the company's stock.

Deere & Company Price Performance

Shares of Deere & Company stock traded up $1.91 during trading on Monday, hitting $383.09. 1,108,276 shares of the stock traded hands, compared to its average volume of 1,537,415. The company has a quick ratio of 1.80, a current ratio of 2.01 and a debt-to-equity ratio of 1.81. Deere & Company has a 52 week low of $340.20 and a 52 week high of $423.35. The firm's fifty day moving average is $367.96 and its 200-day moving average is $379.87. The stock has a market cap of $105.57 billion, a price-to-earnings ratio of 11.53, a PEG ratio of 1.59 and a beta of 0.93.

Deere & Company (NYSE:DE - Get Free Report) last issued its earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.63 by $0.66. Deere & Company had a net margin of 16.15% and a return on equity of 42.26%. The firm had revenue of $11.39 billion for the quarter, compared to the consensus estimate of $10.94 billion. During the same quarter in the prior year, the firm posted $10.20 earnings per share. The business's revenue was down 20.3% on a year-over-year basis. Research analysts expect that Deere & Company will post 25.41 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 8th. Investors of record on Friday, June 28th were issued a $1.47 dividend. The ex-dividend date was Friday, June 28th. This represents a $5.88 annualized dividend and a dividend yield of 1.53%. Deere & Company's dividend payout ratio is presently 17.70%.

Deere & 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.