Deere & Company $DE Shares Sold by TD Private Client Wealth LLC

TD Private Client Wealth LLC reduced its position in shares of Deere & Company (NYSE:DE) by 58.4% in the third quarter, HoldingsChannel.com reports. The firm owned 724 shares of the industrial products company’s stock after selling 1,018 shares during the period. TD Private Client Wealth LLC’s holdings in Deere & Company were worth $331,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in 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 valued at $11,376,279,000 after buying an additional 309,081 shares in the last quarter. State Street Corp lifted its holdings in Deere & Company by 0.6% in 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 acquiring an additional 64,262 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Deere & Company by 2.1% during the 2nd quarter. Geode Capital Management LLC now owns 5,541,778 shares of the industrial products company’s stock valued at $2,810,807,000 after purchasing an additional 111,627 shares in the last quarter. Norges Bank acquired a new position in shares of Deere & Company in the 2nd quarter worth approximately $1,578,243,000. Finally, Fisher Asset Management LLC raised its holdings in shares of Deere & Company by 10.1% in the 2nd quarter. Fisher Asset Management LLC now owns 2,580,228 shares of the industrial products company’s stock worth $1,312,020,000 after purchasing an additional 236,406 shares in the last quarter. Institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Performance

Shares of Deere & Company stock opened at $514.62 on Friday. Deere & Company has a 12 month low of $404.42 and a 12 month high of $533.78. The company has a quick ratio of 2.01, a current ratio of 2.22 and a debt-to-equity ratio of 1.68. The stock has a market cap of $139.50 billion, a PE ratio of 27.80, a price-to-earnings-growth ratio of 1.97 and a beta of 1.00. The business has a fifty day simple moving average of $478.44 and a 200-day simple moving average of $481.76.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Wednesday, November 26th. The industrial products company reported $3.93 earnings per share for the quarter, missing the consensus estimate of $3.96 by ($0.03). Deere & Company had a net margin of 11.00% and a return on equity of 20.54%. The business had revenue of $12.39 billion for the quarter, compared to analyst estimates of $9.77 billion. During the same period in the previous year, the firm posted $4.55 earnings per share. The firm’s quarterly revenue was up 14.1% on a year-over-year basis. On average, sell-side analysts anticipate that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, February 9th. Investors of record on Wednesday, December 31st will be issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Wednesday, December 31st. Deere & Company’s dividend payout ratio (DPR) is currently 35.01%.

Insider Activity at Deere & Company

In other Deere & Company news, insider Cory J. Reed sold 12,000 shares of Deere & Company 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 completion of the sale, the insider owned 20,792 shares of the company’s stock, valued at $10,603,920. This trade represents a 36.59% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, 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 in the company, valued at approximately $59,160,775.30. This represents a 26.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 64,578 shares of company stock valued at $32,471,682. 0.29% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on DE. Citigroup reduced their target price on shares of Deere & Company from $525.00 to $515.00 and set a “neutral” rating for the company in a report on Tuesday, October 7th. Oppenheimer lifted their target price on Deere & Company from $512.00 to $531.00 and gave the stock an “outperform” rating in a report on Friday, November 28th. UBS Group reaffirmed a “buy” rating on shares of Deere & Company in a report on Tuesday, November 25th. BMO Capital Markets reiterated a “market perform” rating and issued a $460.00 price target on shares of Deere & Company in a research report on Tuesday, December 9th. Finally, Wolfe Research lifted their price target on Deere & Company from $520.00 to $550.00 and gave the stock an “outperform” rating in a research note on Friday, January 2nd. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $524.20.

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.