Leavell Investment Management Inc. Has $2.60 Million Stake in Deere & Company $DE

Leavell Investment Management Inc. lowered its stake in Deere & Company (NYSE:DE) by 35.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,666 shares of the industrial products company’s stock after selling 3,048 shares during the quarter. Leavell Investment Management Inc.’s holdings in Deere & Company were worth $2,600,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in DE. Mid American Wealth Advisory Group Inc. bought a new position in Deere & Company in the second quarter valued at about $25,000. Howard Hughes Medical Institute bought a new stake in shares of Deere & Company during the second quarter worth about $27,000. Marshall & Sullivan Inc. WA acquired a new position in shares of Deere & Company in the second quarter valued at approximately $38,000. Center for Financial Planning Inc. increased its stake in shares of Deere & Company by 406.7% in the second quarter. Center for Financial Planning Inc. now owns 76 shares of the industrial products company’s stock valued at $39,000 after buying an additional 61 shares during the period. Finally, Toth Financial Advisory Corp raised its holdings in Deere & Company by 182.1% in the 2nd quarter. Toth Financial Advisory Corp now owns 79 shares of the industrial products company’s stock valued at $40,000 after buying an additional 51 shares during the last quarter. 68.58% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CEO John C. May II sold 41,472 shares of the firm’s stock in a transaction that occurred on Thursday, January 8th. The shares were sold at an average price of $501.49, for a total transaction of $20,797,793.28. Following the completion of the sale, the chief executive officer owned 117,970 shares of the company’s stock, valued at $59,160,775.30. This trade represents a 26.01% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Cory J. Reed sold 12,000 shares of the company’s stock in a transaction dated Wednesday, January 14th. The shares were sold at an average price of $510.00, for a total transaction of $6,120,000.00. Following the transaction, the insider owned 20,792 shares in the company, valued at $10,603,920. This represents a 36.59% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 64,578 shares of company stock worth $32,471,682 over the last 90 days. Company insiders own 0.29% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on DE. Jefferies Financial Group boosted their target price on shares of Deere & Company from $440.00 to $475.00 and gave the stock a “hold” rating in a report on Tuesday, December 9th. Morgan Stanley reissued an “overweight” rating and issued a $560.00 price objective on shares of Deere & Company in a research note on Tuesday, December 9th. UBS Group restated a “buy” rating on shares of Deere & Company in a report on Tuesday, November 25th. BMO Capital Markets reaffirmed a “market perform” rating and set a $460.00 target price on shares of Deere & Company in a report on Tuesday, December 9th. Finally, Sanford C. Bernstein reissued a “market perform” rating on shares of Deere & Company in a research note on Tuesday, December 9th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $524.20.

Deere & Company Stock Performance

Shares of DE opened at $514.62 on Friday. The company has a current ratio of 2.22, a quick ratio of 2.01 and a debt-to-equity ratio of 1.68. The firm’s fifty day simple moving average is $478.44 and its two-hundred day simple moving average is $481.76. Deere & Company has a 12 month low of $404.42 and a 12 month high of $533.78. The stock has a market capitalization of $139.50 billion, a P/E ratio of 27.80, a price-to-earnings-growth ratio of 1.97 and a beta of 1.00.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Wednesday, November 26th. The industrial products company reported $3.93 earnings per share for the quarter, missing the consensus estimate of $3.96 by ($0.03). Deere & Company had a return on equity of 20.54% and a net margin of 11.00%.The business had revenue of $12.39 billion during the quarter, compared to the consensus estimate of $9.77 billion. During the same period last year, the business posted $4.55 earnings per share. The business’s revenue was up 14.1% on a year-over-year basis. As a group, analysts predict that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 9th. Shareholders of record on Wednesday, December 31st will be paid a $1.62 dividend. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $6.48 annualized dividend and a yield of 1.3%. Deere & Company’s payout ratio is 35.01%.

About Deere & Company

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.