Deere & Company $DE Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp cut its position in Deere & Company (NYSE:DE) by 3.2% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 146,958 shares of the industrial products company’s stock after selling 4,865 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned about 0.05% of Deere & Company worth $67,198,000 at the end of the most recent quarter.

Other institutional investors and hedge funds 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 second quarter valued at approximately $25,000. Howard Hughes Medical Institute acquired a new stake in Deere & Company in the 2nd quarter valued at approximately $27,000. Center for Financial Planning Inc. raised its stake in Deere & Company by 406.7% during the 2nd quarter. Center for Financial Planning Inc. now owns 76 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 61 shares in the last quarter. Soundwatch Capital LLC bought a new stake in Deere & Company during the 2nd quarter valued at $41,000. Finally, Lynch Asset Management Inc. acquired a new position in Deere & Company during the 3rd quarter worth $46,000. Institutional investors own 68.58% of the company’s stock.

Insider Buying and Selling at Deere & Company

In other news, insider Cory J. Reed sold 12,000 shares of the company’s 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 sale, the insider directly owned 20,792 shares of the company’s stock, valued at $10,603,920. This represents a 36.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 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 transaction, the chief executive officer owned 117,970 shares of the company’s stock, valued at $59,160,775.30. This trade represents a 26.01% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 64,578 shares of company stock valued at $32,471,682. Corporate insiders own 0.29% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. lowered their price target on Deere & Company from $480.00 to $460.00 and set a “neutral” rating on the stock in a report on Friday, December 19th. BMO Capital Markets restated a “market perform” rating and set a $460.00 price target on shares of Deere & Company in a research report on Tuesday, December 9th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Deere & Company in a research note on Monday, December 29th. Wells Fargo & Company began coverage on shares of Deere & Company in a research note on Thursday, November 13th. They set an “overweight” rating and a $543.00 price objective on the stock. Finally, Evercore ISI reissued a “positive” rating on shares of Deere & Company in a report on Friday, November 28th. Fifteen analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Deere & Company has a consensus rating of “Moderate Buy” and a consensus price target of $524.20.

Deere & Company Stock Performance

NYSE:DE opened at $514.92 on Friday. The company has a 50-day moving average of $482.61 and a 200-day moving average of $481.87. The firm has a market cap of $139.58 billion, a price-to-earnings ratio of 27.82, a price-to-earnings-growth ratio of 1.97 and a beta of 1.00. The company has a current ratio of 2.22, a quick ratio of 2.01 and a debt-to-equity ratio of 1.68. Deere & Company has a twelve month low of $404.42 and a twelve month high of $533.78.

Deere & Company (NYSE:DE) last released its earnings results on Wednesday, November 26th. The industrial products company reported $3.93 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 the consensus estimate of $9.77 billion. Deere & Company had a return on equity of 20.54% and a net margin of 11.00%.The firm’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.55 earnings per share. Analysts forecast 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 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 is 35.01%.

Deere & Company 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.