Fidelis Capital Partners LLC Increases Position in Deere & Company $DE

Fidelis Capital Partners LLC boosted its holdings in shares of Deere & Company (NYSE:DE) by 54.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,009 shares of the industrial products company’s stock after purchasing an additional 1,414 shares during the quarter. Fidelis Capital Partners LLC’s holdings in Deere & Company were worth $1,833,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Mid American Wealth Advisory Group Inc. purchased a new position in shares of Deere & Company during the 2nd quarter valued at approximately $25,000. Howard Hughes Medical Institute purchased a new position in Deere & Company during the second quarter valued at $27,000. Center for Financial Planning Inc. lifted its holdings 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 in the last quarter. Solstein Capital LLC grew its position in shares of Deere & Company by 93.8% in the second quarter. Solstein Capital LLC now owns 93 shares of the industrial products company’s stock valued at $47,000 after purchasing an additional 45 shares during the period. Finally, Horizon Bancorp Inc. IN purchased a new stake in shares of Deere & Company during the second quarter worth about $51,000. 68.58% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Deere & Company

In other news, CEO John C. May II sold 41,472 shares of Deere & Company stock in a transaction that occurred 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 sale, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Cory J. Reed sold 12,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 14th. The shares were sold at an average price of $510.00, for a total value of $6,120,000.00. Following the completion of the transaction, the insider owned 20,792 shares in the company, valued at $10,603,920. This represents a 36.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 64,578 shares of company stock worth $32,471,682 over the last ninety days. 0.29% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on DE. Truist Financial raised their price target on shares of Deere & Company from $609.00 to $612.00 and gave the company a “buy” rating in a research note on Friday, November 28th. Daiwa Capital Markets decreased their target price on Deere & Company from $530.00 to $520.00 and set an “outperform” rating on the stock in a research report on Tuesday, December 2nd. UBS Group reiterated a “buy” rating on shares of Deere & Company in a research report on Tuesday, November 25th. Robert W. Baird reduced their price objective on Deere & Company from $488.00 to $467.00 and set a “neutral” rating for the company in a research note on Monday, October 13th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Deere & Company in a research note on Monday, December 29th. Fifteen analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, Deere & Company currently has a consensus rating of “Moderate Buy” and an average target price of $524.20.

Deere & Company Price Performance

NYSE:DE opened at $524.44 on Thursday. Deere & Company has a one year low of $404.42 and a one year high of $533.78. The stock has a market cap of $142.16 billion, a PE ratio of 28.33, a P/E/G ratio of 2.07 and a beta of 1.00. The company has a debt-to-equity ratio of 1.68, a quick ratio of 2.01 and a current ratio of 2.22. The stock has a 50 day moving average price of $485.34 and a 200 day moving average price of $482.00.

Deere & Company (NYSE:DE) last issued its earnings results on Wednesday, November 26th. The industrial products company reported $3.93 earnings per share (EPS) 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 company had revenue of $12.39 billion during the quarter, compared to analysts’ expectations of $9.77 billion. During the same quarter in the previous year, the company earned $4.55 earnings per share. The firm’s quarterly revenue was up 14.1% compared to the same quarter last year. Equities research analysts expect that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 9th. Investors of record on Wednesday, December 31st will be given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 1.2%. The ex-dividend date is Wednesday, December 31st. Deere & Company’s dividend payout ratio (DPR) is presently 35.01%.

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.