Lbp Am Sa Acquires 3,789 Shares of Deere & Company $DE

Lbp Am Sa grew its holdings in Deere & Company (NYSE:DE) by 39.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 13,354 shares of the industrial products company’s stock after purchasing an additional 3,789 shares during the quarter. Lbp Am Sa’s holdings in Deere & Company were worth $6,106,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Brighton Jones LLC raised its position in Deere & Company by 39.1% in the 4th quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company’s stock worth $1,927,000 after purchasing an additional 1,278 shares during the last quarter. Patton Fund Management Inc. bought a new stake in shares of Deere & Company during the second quarter worth $243,000. Sage Rhino Capital LLC acquired a new position in shares of Deere & Company during the second quarter valued at $213,000. Avior Wealth Management LLC raised its holdings in Deere & Company by 8.5% during the 2nd quarter. Avior Wealth Management LLC now owns 5,240 shares of the industrial products company’s stock worth $2,664,000 after purchasing an additional 409 shares during the last quarter. Finally, Tritonpoint Wealth LLC raised its holdings in Deere & Company by 17.0% during the 2nd quarter. Tritonpoint Wealth LLC now owns 900 shares of the industrial products company’s stock worth $459,000 after purchasing an additional 131 shares during the last quarter. 68.58% of the stock is owned by institutional investors.

Deere & Company Stock Up 0.4%

NYSE:DE opened at $516.51 on Tuesday. Deere & Company has a 1 year low of $404.42 and a 1 year high of $533.78. 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 has a market cap of $140.01 billion, a price-to-earnings ratio of 27.90, a PEG ratio of 1.97 and a beta of 1.00. The stock has a 50-day moving average price of $483.42 and a two-hundred day moving average price of $481.65.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Wednesday, November 26th. The industrial products company reported $3.93 earnings per share 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 business had revenue of $12.39 billion for the quarter, compared to the consensus estimate of $9.77 billion. During the same quarter last year, the firm earned $4.55 EPS. The company’s revenue for the quarter was up 14.1% on a year-over-year basis. As a group, equities analysts expect that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

The business 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 $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Wednesday, December 31st. Deere & Company’s payout ratio is currently 35.01%.

Insiders Place Their Bets

In related news, CEO John C. May II sold 41,472 shares of the stock in a transaction dated Thursday, January 8th. The stock was sold at an average price of $501.49, for a total transaction of $20,797,793.28. Following the completion of 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Cory J. Reed sold 12,000 shares of the business’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 sale, the insider owned 20,792 shares in the company, valued at $10,603,920. The trade was a 36.59% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 64,578 shares of company stock valued at $32,471,682. Company insiders own 0.29% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Wolfe Research raised their target price on shares of Deere & Company from $520.00 to $550.00 and gave the company an “outperform” rating in a research note on Friday, January 2nd. Evercore ISI reaffirmed a “positive” rating on shares of Deere & Company in a report on Friday, November 28th. Oppenheimer upped their target price on shares of Deere & Company from $512.00 to $531.00 and gave the company an “outperform” rating in a research report on Friday, November 28th. Keefe, Bruyette & Woods restated an “outperform” rating on shares of Deere & Company in a research report on Monday, December 1st. Finally, Sanford C. Bernstein reiterated a “market perform” rating on shares of Deere & Company in a report on Tuesday, December 9th. Fifteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus 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.