Public Sector Pension Investment Board Purchases 2,702 Shares of Deere & Company $DE

Public Sector Pension Investment Board increased its position in Deere & Company (NYSE:DE) by 14.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 21,174 shares of the industrial products company’s stock after acquiring an additional 2,702 shares during the period. Public Sector Pension Investment Board’s holdings in Deere & Company were worth $9,682,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of DE. Mid American Wealth Advisory Group Inc. bought a new stake in shares of Deere & Company during the 2nd quarter valued at about $25,000. Howard Hughes Medical Institute purchased a new position in shares of Deere & Company in the second quarter worth approximately $27,000. Activest Wealth Management boosted its holdings in shares of Deere & Company by 69.2% in the third 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. grew its position in Deere & Company by 406.7% during the second 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 during the period. Finally, Soundwatch Capital LLC purchased a new stake in Deere & Company during the second quarter valued at approximately $41,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Insider Activity

In related news, insider Cory J. Reed sold 12,000 shares of the stock in a transaction that occurred 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 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO John C. May II sold 41,472 shares of the company’s stock in a transaction that occurred on Thursday, January 8th. The stock was sold at an average price of $501.49, for a total value of $20,797,793.28. Following the sale, the chief executive officer directly owned 117,970 shares in the company, valued at $59,160,775.30. This trade represents a 26.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 64,578 shares of company stock worth $32,471,682 over the last ninety days. Insiders own 0.29% of the company’s stock.

Deere & Company Trading Up 0.7%

Shares of Deere & Company stock opened at $602.54 on Tuesday. Deere & Company has a fifty-two week low of $404.42 and a fifty-two week high of $626.25. The company has a debt-to-equity ratio of 1.68, a quick ratio of 2.01 and a current ratio of 2.22. The company has a market capitalization of $163.33 billion, a P/E ratio of 32.55, a P/E/G ratio of 2.40 and a beta of 1.02. The company has a fifty day moving average of $510.29 and a 200 day moving average of $487.67.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Wednesday, November 26th. The industrial products company reported $3.93 EPS for the quarter, missing analysts’ consensus estimates of $3.96 by ($0.03). The business had revenue of $12.39 billion for 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%. Deere & Company’s revenue was up 14.1% compared to the same quarter last year. During the same period in the prior year, the business earned $4.55 earnings per share. On average, sell-side analysts anticipate that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, February 9th. Shareholders of record on Wednesday, December 31st were issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Wednesday, December 31st. Deere & Company’s payout ratio is currently 35.01%.

Analysts Set New Price Targets

DE has been the topic of several recent research reports. Evercore reiterated a “positive” rating on shares of Deere & Company in a research report on Friday, November 28th. DA Davidson reaffirmed a “buy” rating and issued a $580.00 target price on shares of Deere & Company in a report on Monday, December 1st. BMO Capital Markets reiterated a “market perform” rating and set a $460.00 target price on shares of Deere & Company in a research report on Tuesday, December 9th. Wall Street Zen raised Deere & Company from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. Finally, Jefferies Financial Group upped their price target on Deere & Company from $440.00 to $475.00 and gave the stock a “hold” rating in a research report on Tuesday, December 9th. Fifteen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $524.20.

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.