Wealth Enhancement Advisory Services LLC Acquires 2,288 Shares of Deere & Company $DE

Wealth Enhancement Advisory Services LLC increased its stake in shares of Deere & Company (NYSE:DE) by 2.4% during the third quarter, HoldingsChannel reports. The institutional investor owned 97,993 shares of the industrial products company’s stock after buying an additional 2,288 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Deere & Company were worth $45,225,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Mid American Wealth Advisory Group Inc. bought a new stake in shares of Deere & Company during the 2nd quarter worth approximately $25,000. Howard Hughes Medical Institute acquired a new position in Deere & Company during the second quarter valued at approximately $27,000. Center for Financial Planning Inc. lifted its stake in Deere & Company by 406.7% during the second quarter. Center for Financial Planning Inc. now owns 76 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 61 shares during the last quarter. Soundwatch Capital LLC acquired a new stake in shares of Deere & Company in the 2nd quarter valued at $41,000. Finally, Lynch Asset Management Inc. bought a new position in shares of Deere & Company in the 3rd quarter valued at $46,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Price Performance

Shares of NYSE:DE opened at $508.72 on Wednesday. The firm has a market cap of $137.90 billion, a PE ratio of 27.48, a price-to-earnings-growth ratio of 1.97 and a beta of 1.00. The firm’s fifty day moving average is $479.85 and its 200-day moving average is $481.40. The company has a debt-to-equity ratio of 1.68, a quick ratio of 2.01 and a current ratio of 2.22. Deere & Company has a 52 week low of $404.42 and a 52 week high of $533.78.

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 analysts’ consensus estimates of $3.96 by ($0.03). The company had revenue of $12.39 billion during the quarter, compared to analyst estimates of $9.77 billion. Deere & Company had a net margin of 11.00% and a return on equity of 20.54%. The business’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $4.55 earnings per share. Sell-side analysts predict that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 9th. Stockholders of record on Wednesday, December 31st will be given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Wednesday, December 31st. Deere & Company’s dividend payout ratio (DPR) is 35.01%.

Insider Buying and Selling

In related news, insider Cory J. Reed sold 12,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 14th. The stock was sold at an average price of $510.00, for a total value of $6,120,000.00. Following the sale, the insider directly owned 20,792 shares in the company, valued at $10,603,920. This represents a 36.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO John C. May II sold 41,472 shares of the 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 sale, the chief executive officer directly owned 117,970 shares of the company’s stock, valued at $59,160,775.30. This represents a 26.01% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 64,578 shares of company stock worth $32,471,682. 0.29% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on DE shares. BMO Capital Markets restated a “market perform” rating and set a $460.00 price objective on shares of Deere & Company in a research report on Tuesday, December 9th. Royal Bank Of Canada lowered their target price on Deere & Company from $542.00 to $541.00 and set an “outperform” rating for the company in a research note on Friday, November 28th. DA Davidson restated a “buy” rating and issued a $580.00 price target on shares of Deere & Company in a research note on Monday, December 1st. JPMorgan Chase & Co. decreased their price target on shares of Deere & Company from $480.00 to $460.00 and set a “neutral” rating on the stock in a report on Friday, December 19th. Finally, Wall Street Zen downgraded shares of Deere & Company from a “hold” rating to a “sell” rating in a research note on Friday, November 28th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $524.20.

Deere & Company Profile

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.