Investors Buy Shares of Deere & Company (DE) on Weakness
Investors purchased shares of Deere & Company (NYSE:DE) on weakness during trading on Monday. $61.64 million flowed into the stock on the tick-up and $34.10 million flowed out of the stock on the tick-down, for a money net flow of $27.54 million into the stock. Of all equities tracked, Deere & Company had the 27th highest net in-flow for the day. Deere & Company traded down ($0.03) for the day and closed at $165.00
A number of research firms have commented on DE. Argus boosted their price target on shares of Deere & Company to $175.00 and gave the company a “buy” rating in a research report on Wednesday, February 20th. Zacks Investment Research lowered shares of Deere & Company from a “buy” rating to a “hold” rating in a research report on Tuesday, February 5th. DZ Bank lowered shares of Deere & Company from a “buy” rating to a “hold” rating in a research report on Tuesday, February 19th. OTR Global upgraded shares of Deere & Company to a “positive” rating in a research report on Friday, January 18th. Finally, Credit Suisse Group reduced their price target on shares of Deere & Company from $211.00 to $209.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 19th. Seven investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $176.73.
The stock has a market capitalization of $52.56 billion, a PE ratio of 16.64, a P/E/G ratio of 1.72 and a beta of 0.90. The company has a debt-to-equity ratio of 2.46, a quick ratio of 1.68 and a current ratio of 1.98.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Friday, March 29th will be given a dividend of $0.76 per share. The ex-dividend date is Thursday, March 28th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 1.95%. Deere & Company’s payout ratio is 32.37%.
In other news, insider John C. May II sold 11,661 shares of the company’s stock in a transaction that occurred on Thursday, January 17th. The shares were sold at an average price of $160.21, for a total transaction of $1,868,208.81. Following the transaction, the insider now directly owns 55,743 shares in the company, valued at $8,930,586.03. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.71% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Moloney Securities Asset Management LLC raised its stake in shares of Deere & Company by 9.1% during the fourth quarter. Moloney Securities Asset Management LLC now owns 2,072 shares of the industrial products company’s stock worth $309,000 after buying an additional 172 shares during the last quarter. Royal London Asset Management Ltd. bought a new stake in Deere & Company in the fourth quarter valued at approximately $42,481,000. Private Trust Co. NA increased its stake in Deere & Company by 6.5% in the first quarter. Private Trust Co. NA now owns 2,580 shares of the industrial products company’s stock valued at $412,000 after purchasing an additional 158 shares in the last quarter. Roundview Capital LLC bought a new stake in Deere & Company in the fourth quarter valued at approximately $254,000. Finally, M&T Bank Corp increased its stake in Deere & Company by 1.1% in the fourth quarter. M&T Bank Corp now owns 71,472 shares of the industrial products company’s stock valued at $10,664,000 after purchasing an additional 745 shares in the last quarter. 68.26% of the stock is owned by institutional investors and hedge funds.
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About Deere & Company (NYSE:DE)
Deere & Company manufactures and distributes various equipment worldwide. The company operates through three segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment offers agriculture and turf equipment, and related parts, including large, medium, and utility tractors; tractor loaders; combines, cotton pickers, cotton strippers, and sugarcane harvesters; harvesting front-end equipment; sugarcane loaders and pull-behind scrapers; and tillage, seeding, and application equipment.
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