Deere & Company $DE Stock Position Lowered by QRG Capital Management Inc.

QRG Capital Management Inc. trimmed its position in shares of Deere & Company (NYSE:DE) by 60.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 15,659 shares of the industrial products company’s stock after selling 24,433 shares during the period. QRG Capital Management Inc.’s holdings in Deere & Company were worth $7,160,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in DE. Mid American Wealth Advisory Group Inc. purchased a new position in shares of Deere & Company during the second quarter valued at $25,000. Howard Hughes Medical Institute purchased a new position in Deere & Company during the 2nd quarter valued at about $27,000. 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. increased its holdings in shares of Deere & Company by 406.7% in 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 during the period. Finally, Toth Financial Advisory Corp lifted its position in shares of Deere & Company by 182.1% in the second quarter. Toth Financial Advisory Corp now owns 79 shares of the industrial products company’s stock worth $40,000 after purchasing an additional 51 shares in the last quarter. 68.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on DE shares. Citigroup dropped their price objective on shares of Deere & Company from $525.00 to $515.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 7th. Jefferies Financial Group upped their price target on shares of Deere & Company from $440.00 to $475.00 and gave the stock a “hold” rating in a research note on Tuesday, December 9th. Wall Street Zen cut Deere & Company from a “hold” rating to a “sell” rating in a research report on Friday, November 28th. Evercore ISI reaffirmed a “positive” rating on shares of Deere & Company in a research report on Friday, November 28th. Finally, DA Davidson reiterated a “buy” rating and set a $580.00 price target on shares of Deere & Company in a report on Monday, December 1st. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, Deere & Company currently has an average rating of “Moderate Buy” and a consensus price target of $524.20.

Deere & Company Price Performance

Shares of NYSE:DE opened at $514.62 on Friday. The stock has a market capitalization of $139.50 billion, a P/E ratio of 27.80, a P/E/G ratio of 1.97 and a beta of 1.00. The business has a 50-day moving average of $478.44 and a two-hundred day moving average of $481.76. Deere & Company has a fifty-two week low of $404.42 and a fifty-two week high of $533.78. The company has a debt-to-equity ratio of 1.68, a current ratio of 2.22 and a quick ratio of 2.01.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Wednesday, November 26th. The industrial products company reported $3.93 earnings per share for the quarter, missing analysts’ consensus estimates of $3.96 by ($0.03). The company had revenue of $12.39 billion during the quarter, compared to the consensus estimate of $9.77 billion. Deere & Company had a net margin of 11.00% and a return on equity of 20.54%. The firm’s revenue was up 14.1% on a year-over-year basis. During the same period in the previous year, the business posted $4.55 earnings per share. On average, equities research analysts predict 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 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 of this dividend is Wednesday, December 31st. Deere & Company’s dividend payout ratio is currently 35.01%.

Insiders Place Their Bets

In related news, CEO John C. May II sold 41,472 shares of the firm’s stock in a transaction on Thursday, January 8th. The shares were sold at an average price of $501.49, for a total value of $20,797,793.28. Following the transaction, the chief executive officer directly owned 117,970 shares in the company, valued at approximately $59,160,775.30. This trade represents a 26.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Cory J. 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 transaction, the insider directly owned 20,792 shares of the company’s stock, valued at approximately $10,603,920. This represents a 36.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 64,578 shares of company stock worth $32,471,682 over the last quarter. 0.29% of the stock is currently owned by company insiders.

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.