Deere & Company $DE Shares Sold by ProShare Advisors LLC

ProShare Advisors LLC lessened its position in shares of Deere & Company (NYSE:DE) by 2.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 42,679 shares of the industrial products company’s stock after selling 1,023 shares during the period. ProShare Advisors LLC’s holdings in Deere & Company were worth $19,515,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of DE. Breakwater Capital Group increased its position in Deere & Company by 9.4% during the 3rd quarter. Breakwater Capital Group now owns 1,897 shares of the industrial products company’s stock worth $867,000 after purchasing an additional 163 shares in the last quarter. REAP Financial Group LLC grew its stake in Deere & Company by 17.7% during the third quarter. REAP Financial Group LLC now owns 153 shares of the industrial products company’s stock worth $70,000 after buying an additional 23 shares during the period. Legacy Financial Strategies LLC increased its position in shares of Deere & Company by 7.7% in the third quarter. Legacy Financial Strategies LLC now owns 584 shares of the industrial products company’s stock worth $267,000 after acquiring an additional 42 shares in the last quarter. Gables Capital Management Inc. raised its stake in shares of Deere & Company by 1.2% in the 3rd quarter. Gables Capital Management Inc. now owns 2,603 shares of the industrial products company’s stock valued at $1,190,000 after acquiring an additional 30 shares during the period. Finally, Roman Butler Fullerton & Co. lifted its holdings in shares of Deere & Company by 4.1% during the 3rd quarter. Roman Butler Fullerton & Co. now owns 1,248 shares of the industrial products company’s stock valued at $591,000 after acquiring an additional 49 shares in the last quarter. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Price Performance

Shares of NYSE DE opened at $593.11 on Wednesday. The company has a quick ratio of 2.01, a current ratio of 2.22 and a debt-to-equity ratio of 1.68. Deere & Company has a fifty-two week low of $404.42 and a fifty-two week high of $593.76. The business has a 50 day moving average price of $500.08 and a two-hundred day moving average price of $485.13. The firm has a market cap of $160.77 billion, a PE ratio of 32.04, a price-to-earnings-growth ratio of 2.34 and a beta of 1.02.

Deere & Company (NYSE:DE) last announced its earnings results on Wednesday, November 26th. The industrial products company reported $3.93 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.96 by ($0.03). The business 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 period in the previous year, the company earned $4.55 earnings per share. Sell-side analysts expect that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 9th. Shareholders of record on Wednesday, December 31st were paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Wednesday, December 31st. Deere & Company’s dividend payout ratio is 35.01%.

Insiders Place Their Bets

In other news, 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 value of $6,120,000.00. Following the sale, the insider owned 20,792 shares in the company, valued at approximately $10,603,920. This represents a 36.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO John C. May II sold 41,472 shares of the stock in a transaction dated Thursday, January 8th. The stock was sold at an average price of $501.49, for a total transaction of $20,797,793.28. Following the transaction, the chief executive officer directly owned 117,970 shares in the company, valued at $59,160,775.30. The trade was a 26.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 64,578 shares of company stock worth $32,471,682 over the last quarter. 0.29% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on DE shares. Wolfe Research upped their target price on Deere & Company from $520.00 to $550.00 and gave the stock an “outperform” rating in a research report on Friday, January 2nd. Jefferies Financial Group boosted their price target on Deere & Company from $440.00 to $475.00 and gave the stock a “hold” rating in a research report on Tuesday, December 9th. Zacks Research upgraded Deere & Company from a “strong sell” rating to a “hold” rating in a report on Wednesday, December 3rd. JPMorgan Chase & Co. dropped their price objective on shares of Deere & Company from $480.00 to $460.00 and set a “neutral” rating on the stock in a research note on Friday, December 19th. Finally, Morgan Stanley reissued an “overweight” rating and set a $560.00 target price on shares of Deere & Company in a research report on Tuesday, December 9th. Fifteen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, Deere & Company currently has a consensus rating of “Moderate Buy” and an average 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.