Wilmington Savings Fund Society FSB Sells 2,899 Shares of Deere & Company $DE

Wilmington Savings Fund Society FSB trimmed its position in Deere & Company (NYSE:DE) by 13.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,237 shares of the industrial products company’s stock after selling 2,899 shares during the period. Wilmington Savings Fund Society FSB’s holdings in Deere & Company were worth $8,339,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Brighton Jones LLC boosted its position in Deere & Company by 39.1% during the fourth quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company’s stock valued at $1,927,000 after purchasing an additional 1,278 shares during the last quarter. Schnieders Capital Management LLC. lifted its position in shares of Deere & Company by 7.8% in the second quarter. Schnieders Capital Management LLC. now owns 2,076 shares of the industrial products company’s stock valued at $1,056,000 after buying an additional 150 shares during the last quarter. SG Americas Securities LLC lifted its position in shares of Deere & Company by 34.9% in the second quarter. SG Americas Securities LLC now owns 7,870 shares of the industrial products company’s stock valued at $4,002,000 after buying an additional 2,034 shares during the last quarter. Kingsview Wealth Management LLC boosted its position in Deere & Company by 2.6% during the second quarter. Kingsview Wealth Management LLC now owns 5,504 shares of the industrial products company’s stock worth $2,799,000 after purchasing an additional 139 shares during the period. Finally, Western Wealth Management LLC boosted its holdings in shares of Deere & Company by 5.2% during the 2nd quarter. Western Wealth Management LLC now owns 1,169 shares of the industrial products company’s stock worth $594,000 after buying an additional 58 shares during the period. Institutional investors and hedge funds own 68.58% of the company’s stock.

Insiders Place Their Bets

In other Deere & Company news, insider Cory J. Reed sold 12,000 shares of the business’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 transaction of $6,120,000.00. Following the completion of the sale, the insider directly owned 20,792 shares of the company’s stock, valued at approximately $10,603,920. The trade was a 36.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO John C. May II sold 41,472 shares of the 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 sale, the chief executive officer directly 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.29% of the company’s stock.

Deere & Company Stock Performance

DE stock opened at $574.55 on Wednesday. Deere & Company has a 1-year low of $404.42 and a 1-year high of $674.19. The company has a current ratio of 2.21, a quick ratio of 1.96 and a debt-to-equity ratio of 1.59. The stock has a 50-day moving average price of $568.12 and a 200-day moving average price of $504.39. The firm has a market cap of $155.19 billion, a PE ratio of 32.39, a price-to-earnings-growth ratio of 2.00 and a beta of 0.96.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, February 19th. The industrial products company reported $2.42 EPS for the quarter, topping the consensus estimate of $1.90 by $0.52. The company had revenue of $9.61 billion during the quarter, compared to the consensus estimate of $7.50 billion. Deere & Company had a net margin of 10.29% and a return on equity of 18.93%. The company’s quarterly revenue was up 17.5% on a year-over-year basis. During the same quarter last year, the firm posted $3.19 EPS. As a group, equities research analysts expect that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

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

Analyst Ratings Changes

DE has been the subject of several recent research reports. Truist Financial boosted their price target on Deere & Company from $612.00 to $793.00 and gave the company a “buy” rating in a research note on Friday, February 20th. Sanford C. Bernstein increased their price target on Deere & Company from $521.00 to $615.00 and gave the stock a “market perform” rating in a research report on Friday, February 20th. DA Davidson raised their target price on shares of Deere & Company from $580.00 to $775.00 and gave the company a “buy” rating in a report on Friday, February 20th. Wall Street Zen raised Deere & Company from a “sell” rating to a “hold” rating in a research note on Saturday, February 7th. Finally, Jefferies Financial Group downgraded shares of Deere & Company from a “hold” rating to an “underperform” rating and upped their price target for the stock from $475.00 to $550.00 in a report on Monday, February 23rd. Sixteen equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. 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.