Homestead Advisers Corp Sells 4,000 Shares of Deere & Company $DE

Homestead Advisers Corp decreased its position in shares of Deere & Company (NYSE:DE) by 1.8% during the third quarter, according to its most recent filing with the SEC. The firm owned 215,600 shares of the industrial products company’s stock after selling 4,000 shares during the period. Deere & Company comprises about 2.3% of Homestead Advisers Corp’s holdings, making the stock its 13th largest holding. Homestead Advisers Corp owned about 0.08% of Deere & Company worth $98,585,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in DE. Mid American Wealth Advisory Group Inc. bought a new position in shares of Deere & Company during the second quarter valued at approximately $25,000. Howard Hughes Medical Institute purchased a new stake in shares of Deere & Company in the 2nd quarter worth approximately $27,000. Activest Wealth Management grew its stake in shares of Deere & Company by 69.2% in the 3rd quarter. Activest Wealth Management now owns 66 shares of the industrial products company’s stock worth $30,000 after buying an additional 27 shares during the last quarter. Center for Financial Planning Inc. increased its position in 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 buying an additional 61 shares in the last quarter. Finally, Soundwatch Capital LLC purchased a new position in Deere & Company during the second quarter valued at $41,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Analysts Set New Price Targets

DE has been the topic of a number of recent research reports. Weiss Ratings reissued a “hold (c+)” rating on shares of Deere & Company in a research note on Monday, December 29th. Evercore ISI restated a “positive” rating on shares of Deere & Company in a research note on Friday, November 28th. Oppenheimer lifted their target price on shares of Deere & Company from $512.00 to $531.00 and gave the stock an “outperform” rating in a report on Friday, November 28th. Royal Bank Of Canada cut their price target on shares of Deere & Company from $542.00 to $541.00 and set an “outperform” rating on the stock in a report on Friday, November 28th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating on shares of Deere & Company in a research report on Monday, December 1st. Fifteen analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, Deere & Company has an average rating of “Moderate Buy” and a consensus target price of $524.20.

Insider Transactions at Deere & Company

In other news, insider Cory J. Reed sold 12,000 shares of the company’s stock in a transaction dated Wednesday, January 14th. The shares were 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 owned 20,792 shares of the company’s stock, valued at $10,603,920. This represents a 36.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO John C. May II sold 41,472 shares of the stock in a transaction that occurred on 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 owned 117,970 shares in the company, valued at $59,160,775.30. This trade represents a 26.01% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 64,578 shares of company stock worth $32,471,682. 0.29% of the stock is owned by corporate insiders.

Deere & Company Stock Performance

Shares of NYSE DE opened at $568.20 on Thursday. The firm’s 50-day moving average price is $490.96 and its 200-day moving average price is $483.28. Deere & Company has a 52-week low of $404.42 and a 52-week high of $571.56. The company has a market cap of $154.02 billion, a PE ratio of 30.70, a PEG ratio of 2.17 and a beta of 1.02. The company has a quick ratio of 2.01, a current ratio of 2.22 and a debt-to-equity ratio of 1.68.

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). Deere & Company had a net margin of 11.00% and a return on equity of 20.54%. The company 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 company earned $4.55 EPS. The firm’s revenue for the quarter was up 14.1% on a year-over-year basis. As a group, analysts anticipate that Deere & Company will post 19.32 EPS for the current 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 given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Wednesday, December 31st. Deere & Company’s dividend payout ratio is 35.01%.

Deere & Company 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.