Trade Report: Today, M&T Bank Corp Sold shares of Deere & Company (DE)

Today, M&T Bank Corp Sold shares of Deere & Company (DE)

M&T Bank Corp decreased its stake in shares of Deere & Company (NYSE:DE) by 0.9% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 73,201 shares of the company’s stock after selling 674 shares during the period. M&T Bank Corp’s holdings in Deere & Company were worth $6,248,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. Hartford Financial Management Inc. boosted its stake in Deere & Company by 5.2% in the third quarter. Hartford Financial Management Inc. now owns 1,210 shares of the company’s stock valued at $103,000 after buying an additional 60 shares during the period. Jolley Asset Management LLC boosted its stake in Deere & Company by 14.0% in the third quarter. Jolley Asset Management LLC now owns 1,225 shares of the company’s stock valued at $105,000 after buying an additional 150 shares during the period. CWM LLC boosted its stake in Deere & Company by 94.6% in the third quarter. CWM LLC now owns 1,234 shares of the company’s stock valued at $105,000 after buying an additional 600 shares during the period. Washington Trust Bank boosted its stake in Deere & Company by 59.0% in the second quarter. Washington Trust Bank now owns 1,240 shares of the company’s stock valued at $100,000 after buying an additional 460 shares during the period. Finally, Cornerstone Advisors Inc. boosted its stake in Deere & Company by 6.0% in the third quarter. Cornerstone Advisors Inc. now owns 1,268 shares of the company’s stock valued at $108,000 after buying an additional 72 shares during the period. 71.68% of the stock is currently owned by institutional investors and hedge funds.

Shares of Deere & Company (NYSE:DE) traded down 1.24% on Monday, hitting $102.63. 2,579,562 shares of the stock were exchanged. The stock’s 50-day moving average is $89.32 and its 200-day moving average is $84.18. The stock has a market cap of $32.27 billion, a price-to-earnings ratio of 20.57 and a beta of 0.71. Deere & Company has a 1-year low of $70.16 and a 1-year high of $104.83.

Deere & Company (NYSE:DE) last issued its earnings results on Wednesday, November 23rd. The company reported $0.90 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.50. The business had revenue of $6.52 billion for the quarter. Deere & Company had a net margin of 5.72% and a return on equity of 21.54%. The firm’s revenue was down 4.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.08 earnings per share. Analysts forecast that Deere & Company will post $4.32 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 1st. Investors of record on Friday, September 30th were paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 2.31%. The ex-dividend date of this dividend was Wednesday, September 28th. Deere & Company’s dividend payout ratio is presently 49.90%.

Several analysts have recently commented on the stock. JPMorgan Chase & Co. reissued an “underweight” rating on shares of Deere & Company in a research note on Friday, October 21st. Piper Jaffray Cos. raised shares of Deere & Company from an “underweight” rating to a “neutral” rating in a research note on Monday. RBC Capital Markets assumed coverage on shares of Deere & Company in a research note on Thursday, November 10th. They issued an “outperform” rating on the stock. Jefferies Group reaffirmed a “hold” rating and issued a $95.00 price objective (up from $85.00) on shares of Deere & Company in a research note on Monday. Finally, Royal Bank Of Canada raised their price objective on shares of Deere & Company from $80.00 to $98.00 and gave the company a “sector perform” rating in a research note on Friday. Five equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and ten have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $88.74.

In related news, insider John C. May II sold 18,614 shares of the stock in a transaction on Wednesday, November 23rd. The shares were sold at an average price of $96.46, for a total transaction of $1,795,506.44. Following the transaction, the insider now directly owns 28,926 shares of the company’s stock, valued at $2,790,201.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.75% of the company’s stock.

Deere & Company Company Profile

Deere & Company is engaged in equipment operations and financial services. The Company operates through three business segments: agriculture and turf, construction and forestry, and financial services. The Company’s agriculture and turf segment primarily manufactures and distributes a full line of agriculture and turf equipment and related service parts.

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