Deere & Company $DE Shares Sold by Dnca Finance

Dnca Finance lessened its stake in Deere & Company (NYSE:DE) by 4.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 44,980 shares of the industrial products company’s stock after selling 2,000 shares during the quarter. Deere & Company comprises about 1.4% of Dnca Finance’s holdings, making the stock its 21st largest holding. Dnca Finance’s holdings in Deere & Company were worth $20,568,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Deere & Company by 1.4% during the second quarter. Vanguard Group Inc. now owns 22,372,671 shares of the industrial products company’s stock worth $11,376,279,000 after purchasing an additional 309,081 shares in the last quarter. State Street Corp grew its holdings in Deere & Company by 0.6% during the 2nd quarter. State Street Corp now owns 10,386,268 shares of the industrial products company’s stock valued at $5,297,913,000 after purchasing an additional 64,262 shares in the last quarter. Capital World Investors increased its stake in Deere & Company by 5.5% during the 3rd quarter. Capital World Investors now owns 6,233,740 shares of the industrial products company’s stock worth $2,850,687,000 after buying an additional 322,582 shares during the period. Norges Bank acquired a new position in Deere & Company in the 2nd quarter worth $1,578,243,000. Finally, Fisher Asset Management LLC lifted its holdings in Deere & Company by 5.5% in the 3rd quarter. Fisher Asset Management LLC now owns 2,722,018 shares of the industrial products company’s stock worth $1,244,670,000 after buying an additional 141,790 shares in the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Stock Down 1.4%

Shares of Deere & Company stock opened at $577.42 on Friday. The business has a 50-day moving average price of $564.21 and a 200 day moving average price of $502.98. Deere & Company has a fifty-two week low of $404.42 and a fifty-two week high of $674.19. The firm has a market cap of $155.97 billion, a P/E ratio of 32.55, a P/E/G ratio of 2.05 and a beta of 0.96. The company has a quick ratio of 1.96, a current ratio of 2.21 and a debt-to-equity ratio of 1.59.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, February 19th. The industrial products company reported $2.42 EPS for the quarter, topping analysts’ consensus estimates of $1.90 by $0.52. The company had revenue of $9.61 billion for the quarter, compared to the consensus estimate of $7.50 billion. Deere & Company had a return on equity of 18.93% and a net margin of 10.29%.Deere & Company’s quarterly revenue was up 17.5% compared to the same quarter last year. During the same quarter last year, the business posted $3.19 EPS. On average, sell-side analysts forecast that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 8th. Investors of record on Tuesday, March 31st will be paid a dividend of $1.62 per share. The ex-dividend date is Tuesday, March 31st. This represents a $6.48 annualized dividend and a yield of 1.1%. Deere & Company’s dividend payout ratio (DPR) is 36.53%.

Insider Buying and Selling at Deere & Company

In other Deere & Company news, CEO John C. May II sold 41,472 shares of Deere & Company stock in a transaction on Thursday, January 8th. The shares were sold at an average price of $501.49, for a total value of $20,797,793.28. Following the completion of the transaction, the chief executive officer owned 117,970 shares of the company’s stock, valued at $59,160,775.30. The trade was a 26.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Cory J. Reed sold 12,000 shares of Deere & Company stock in a transaction on Wednesday, January 14th. The stock was sold at an average price of $510.00, for a total transaction of $6,120,000.00. Following the completion of the transaction, the insider directly owned 20,792 shares of the company’s stock, valued at approximately $10,603,920. This represents a 36.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.29% of the company’s stock.

Analyst Ratings Changes

DE has been the subject of several recent analyst reports. Argus raised their target price on Deere & Company from $540.00 to $700.00 and gave the company a “buy” rating in a research note on Tuesday, March 3rd. Evercore reiterated a “positive” rating on shares of Deere & Company in a research note on Friday, November 28th. Sanford C. Bernstein increased their price target on Deere & Company from $521.00 to $615.00 and gave the company a “market perform” rating in a report on Friday, February 20th. UBS Group raised their price objective on Deere & Company from $535.00 to $775.00 and gave the company a “buy” rating in a research note on Friday, February 20th. Finally, BMO Capital Markets lifted their price objective on Deere & Company from $460.00 to $500.00 and gave the stock a “market perform” rating in a report on Friday, February 20th. Sixteen equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $644.70.

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.