Northwest Wealth Management LLC cut its stake in shares of Deere & Company (NYSE:DE) by 28.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,255 shares of the industrial products company’s stock after selling 902 shares during the period. Northwest Wealth Management LLC’s holdings in Deere & Company were worth $391,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. DRW Securities LLC bought a new position in Deere & Company in the 2nd quarter worth approximately $227,000. Man Group plc boosted its stake in Deere & Company by 250.1% in the 3rd quarter. Man Group plc now owns 26,987 shares of the industrial products company’s stock worth $4,552,000 after purchasing an additional 19,278 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in Deere & Company by 0.4% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 649,925 shares of the industrial products company’s stock worth $107,699,000 after purchasing an additional 2,598 shares during the period. Charles Schwab Trust Co bought a new position in Deere & Company in the 3rd quarter worth approximately $1,303,000. Finally, Point72 Asset Management L.P. bought a new position in Deere & Company in the 3rd quarter worth approximately $20,723,000. Institutional investors own 67.53% of the company’s stock.
Several research analysts have weighed in on DE shares. JPMorgan Chase & Co. restated a “sell” rating and issued a $140.00 price target on shares of Deere & Company in a research note on Monday, November 25th. Bank of America downgraded Deere & Company from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $200.00 to $150.00 in a research note on Monday, December 2nd. Argus restated a “positive” rating and issued a $185.00 price target on shares of Deere & Company in a research note on Tuesday, December 3rd. Morgan Stanley upped their price target on Deere & Company from $180.00 to $197.00 and gave the stock an “overweight” rating in a research note on Friday, November 29th. Finally, UBS Group dropped their price target on Deere & Company from $180.00 to $169.00 and set a “neutral” rating for the company in a research note on Friday, November 29th. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the stock. Deere & Company has a consensus rating of “Hold” and a consensus target price of $172.79.
In other news, CEO John C. May II sold 5,075 shares of the firm’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $173.38, for a total value of $879,903.50. Following the completion of the sale, the chief executive officer now owns 49,157 shares in the company, valued at approximately $8,522,840.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider James M. Field sold 12,637 shares of Deere & Company stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $180.00, for a total transaction of $2,274,660.00. Following the transaction, the insider now directly owns 113,858 shares of the company’s stock, valued at $20,494,440. The disclosure for this sale can be found here. Insiders have sold a total of 152,228 shares of company stock valued at $26,934,906 over the last quarter. Corporate insiders own 0.71% of the company’s stock.
Shares of NYSE DE traded up $0.04 during midday trading on Tuesday, reaching $174.78. 24,800 shares of the stock traded hands, compared to its average volume of 1,197,350. The company has a debt-to-equity ratio of 2.65, a current ratio of 2.04 and a quick ratio of 1.80. The stock has a market capitalization of $54.33 billion, a PE ratio of 17.58, a P/E/G ratio of 4.10 and a beta of 1.13. Deere & Company has a one year low of $132.68 and a one year high of $180.48. The company’s 50 day moving average is $172.28 and its 200 day moving average is $166.64.
Deere & Company (NYSE:DE) last posted its earnings results on Wednesday, November 27th. The industrial products company reported $2.14 EPS for the quarter, beating analysts’ consensus estimates of $2.13 by $0.01. The firm had revenue of $8.70 billion during the quarter, compared to the consensus estimate of $8.41 billion. Deere & Company had a return on equity of 27.11% and a net margin of 8.29%. The company’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same period in the prior year, the company earned $2.30 EPS. As a group, equities analysts forecast that Deere & Company will post 9.45 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.76 per share. The ex-dividend date is Monday, December 30th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 1.74%. Deere & Company’s dividend payout ratio is currently 30.58%.
Deere & Company Company Profile
Deere & Company manufactures and distributes various equipment worldwide. The company operates through three segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment offers agriculture and turf equipment, and related parts, including large, medium, and utility tractors; tractor loaders; combines, cotton pickers, cotton strippers, and sugarcane harvesters; harvesting front-end equipment; sugarcane loaders and pull-behind scrapers; and tillage, seeding, and application equipment.
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