Deere & Company $DE Position Trimmed by Finemark National Bank & Trust

Finemark National Bank & Trust trimmed its stake in Deere & Company (NYSE:DE) by 69.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,898 shares of the industrial products company’s stock after selling 6,501 shares during the quarter. Finemark National Bank & Trust’s holdings in Deere & Company were worth $1,325,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in DE. Howard Hughes Medical Institute acquired a new stake in shares of Deere & Company during the 2nd quarter valued at $27,000. Activest Wealth Management raised its holdings in shares of Deere & Company by 69.2% during the third quarter. Activest Wealth Management now owns 66 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 27 shares in the last quarter. Center for Financial Planning Inc. boosted its position 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 valued at $39,000 after purchasing an additional 61 shares during the last quarter. United Community Bank grew its stake in Deere & Company by 67.3% in the third quarter. United Community Bank now owns 92 shares of the industrial products company’s stock valued at $42,000 after purchasing an additional 37 shares in the last quarter. Finally, Lynch Asset Management Inc. purchased a new position in Deere & Company in the third quarter valued at about $46,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Deere & Company

In related news, CEO John C. May II sold 41,472 shares of the business’s stock in a transaction 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 transaction, the chief executive officer owned 117,970 shares of the company’s stock, valued at approximately $59,160,775.30. The trade was a 26.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Cory J. Reed sold 12,000 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at approximately $10,603,920. The trade was a 36.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.29% of the company’s stock.

Deere & Company Stock Performance

NYSE:DE opened at $629.32 on Monday. The firm has a market capitalization of $169.99 billion, a PE ratio of 35.47, a PEG ratio of 2.22 and a beta of 0.96. 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 firm’s fifty day simple moving average is $537.84 and its 200 day simple moving average is $495.39.

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

Deere & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 8th. Shareholders of record on Tuesday, March 31st will be issued a $1.62 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $6.48 dividend on an annualized basis and a yield of 1.0%. Deere & Company’s dividend payout ratio (DPR) is 36.53%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Raymond James Financial reissued an “outperform” rating and issued a $765.00 price target on shares of Deere & Company in a research note on Monday, February 23rd. BMO Capital Markets increased their price target on shares of Deere & Company from $460.00 to $500.00 and gave the stock a “market perform” rating in a research note on Friday, February 20th. UBS Group raised their price target on shares of Deere & Company from $535.00 to $775.00 and gave the company a “buy” rating in a report on Friday, February 20th. Sanford C. Bernstein lifted their price objective on shares of Deere & Company from $521.00 to $615.00 and gave the company a “market perform” rating in a research note on Friday, February 20th. Finally, Wolfe Research upped their price objective on shares of Deere & Company from $520.00 to $550.00 and gave the stock an “outperform” rating in a report on Friday, January 2nd. Fifteen 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 company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $637.70.

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.