Deere & Company (NYSE:DE) Insider Sells $6,120,000.00 in Stock

Deere & Company (NYSE:DE) insider Cory Reed sold 12,000 shares of the business’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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Deere & Company Trading Up 0.7%

Shares of DE stock traded up $3.83 during mid-day trading on Thursday, reaching $515.93. The stock had a trading volume of 675,220 shares, compared to its average volume of 1,386,745. The company has a current ratio of 2.22, a quick ratio of 2.01 and a debt-to-equity ratio of 1.68. The stock’s 50-day moving average price is $476.68 and its two-hundred day moving average price is $481.67. The firm has a market capitalization of $139.53 billion, a PE ratio of 27.88, a price-to-earnings-growth ratio of 1.91 and a beta of 1.00. Deere & Company has a 52-week low of $404.42 and a 52-week high of $533.78.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Wednesday, November 26th. The industrial products company reported $3.93 EPS for the quarter, missing the consensus estimate of $3.96 by ($0.03). Deere & Company had a return on equity of 20.54% and a net margin of 11.00%.The company had revenue of $12.39 billion during the quarter, compared to the consensus estimate of $9.77 billion. During the same quarter last year, the company posted $4.55 earnings per share. The firm’s revenue for the quarter was up 14.1% compared to the same quarter last year. Equities analysts expect that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

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

Institutional Trading of Deere & Company

Several hedge funds and other institutional investors have recently bought and sold shares of DE. The Manufacturers Life Insurance Company lifted its stake in Deere & Company by 30.6% during the second quarter. The Manufacturers Life Insurance Company now owns 364,103 shares of the industrial products company’s stock worth $185,143,000 after purchasing an additional 85,351 shares during the last quarter. OLD National Bancorp IN boosted its holdings in shares of Deere & Company by 2.6% in the 2nd quarter. OLD National Bancorp IN now owns 24,000 shares of the industrial products company’s stock valued at $12,204,000 after buying an additional 610 shares in the last quarter. Mesirow Financial Investment Management Inc. raised its stake in Deere & Company by 1.0% during the 2nd quarter. Mesirow Financial Investment Management Inc. now owns 4,678 shares of the industrial products company’s stock worth $2,379,000 after acquiring an additional 45 shares in the last quarter. MASTERINVEST Kapitalanlage GmbH acquired a new stake in Deere & Company during the 2nd quarter worth $3,615,000. Finally, WINTON GROUP Ltd purchased a new stake in Deere & Company in the second quarter valued at $4,550,000. 68.58% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

DE has been the subject of a number of research reports. BMO Capital Markets reiterated a “market perform” rating and issued a $460.00 price target on shares of Deere & Company in a report on Tuesday, December 9th. Truist Financial increased their price target on Deere & Company from $609.00 to $612.00 and gave the stock a “buy” rating in a research report on Friday, November 28th. Evercore ISI reaffirmed a “positive” rating on shares of Deere & Company in a research note on Friday, November 28th. JPMorgan Chase & Co. cut their target price on shares of Deere & Company from $480.00 to $460.00 and set a “neutral” rating on the stock in a research report on Friday, December 19th. Finally, Zacks Research raised shares of Deere & Company from a “strong sell” rating to a “hold” rating in a research report on Wednesday, December 3rd. One equities research 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. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $524.20.

About Deere & Company

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.