Sepio Capital LP Acquires 1,180 Shares of Deere & Company $DE

Sepio Capital LP increased its holdings in Deere & Company (NYSE:DE) by 75.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,753 shares of the industrial products company’s stock after purchasing an additional 1,180 shares during the quarter. Sepio Capital LP’s holdings in Deere & Company were worth $1,400,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Mid American Wealth Advisory Group Inc. bought a new stake in Deere & Company during the second quarter valued at $25,000. Activest Wealth Management raised its position in shares of Deere & Company by 2,750.0% in the 1st quarter. Activest Wealth Management now owns 57 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 55 shares in the last quarter. Marshall & Sullivan Inc. WA acquired a new position in shares of Deere & Company in the 2nd quarter valued at about $38,000. Center for Financial Planning Inc. boosted its position in shares of 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 purchasing an additional 61 shares in the last quarter. Finally, Livelsberger Financial Advisory acquired a new stake in Deere & Company during the second quarter worth approximately $39,000. Institutional investors own 68.58% of the company’s stock.

Deere & Company Price Performance

Deere & Company stock opened at $465.95 on Monday. The business’s 50 day simple moving average is $467.10 and its 200 day simple moving average is $490.48. Deere & Company has a 12 month low of $403.01 and a 12 month high of $533.78. The company has a market cap of $125.96 billion, a price-to-earnings ratio of 24.36, a PEG ratio of 3.05 and a beta of 1.04. The company has a current ratio of 2.19, a quick ratio of 1.98 and a debt-to-equity ratio of 1.76.

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 11.72% and a return on equity of 21.97%. The firm had revenue of $12.39 billion during the quarter, compared to the consensus estimate of $9.77 billion. During the same quarter in the previous year, the firm earned $4.55 earnings per share. The business’s quarterly revenue was up 14.1% compared to the same quarter last year. Sell-side analysts forecast that Deere & Company will post 19.32 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on DE shares. Oppenheimer upped their price objective on shares of Deere & Company from $512.00 to $531.00 and gave the company an “outperform” rating in a report on Friday. DA Davidson decreased their price target on shares of Deere & Company from $595.00 to $580.00 and set a “buy” rating for the company in a research note on Monday, August 18th. Truist Financial raised their price objective on shares of Deere & Company from $609.00 to $612.00 and gave the company a “buy” rating in a research note on Friday. UBS Group reissued a “buy” rating on shares of Deere & Company in a research report on Tuesday, November 25th. Finally, Jefferies Financial Group lowered their target price on shares of Deere & Company from $510.00 to $440.00 and set a “hold” rating on the stock in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $519.45.

Insiders Place Their Bets

In related news, CEO John C. May II sold 11,106 shares of the business’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $500.08, for a total value of $5,553,888.48. Following the sale, the chief executive officer directly owned 112,453 shares in the company, valued at approximately $56,235,496.24. The trade was a 8.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.29% of the company’s stock.

About Deere & Company

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.