NEOS Investment Management LLC Boosts Stock Holdings in Deere & Company $DE

NEOS Investment Management LLC boosted its stake in shares of Deere & Company (NYSE:DE) by 22.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 31,748 shares of the industrial products company’s stock after acquiring an additional 5,894 shares during the quarter. NEOS Investment Management LLC’s holdings in Deere & Company were worth $14,517,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Prairie Wealth Advisors Inc. raised its position in Deere & Company by 2.1% during the 2nd quarter. Prairie Wealth Advisors Inc. now owns 964 shares of the industrial products company’s stock valued at $492,000 after purchasing an additional 20 shares during the last quarter. Rehmann Capital Advisory Group boosted its stake in shares of Deere & Company by 0.9% during the 2nd quarter. Rehmann Capital Advisory Group now owns 2,486 shares of the industrial products company’s stock valued at $1,264,000 after purchasing an additional 21 shares in the last quarter. Blue Chip Partners LLC lifted its holdings in Deere & Company by 1.4% in the second quarter. Blue Chip Partners LLC now owns 1,574 shares of the industrial products company’s stock worth $801,000 after buying an additional 21 shares during the period. TRUE Private Wealth Advisors raised its position in shares of Deere & Company by 3.0% in the 2nd quarter. TRUE Private Wealth Advisors now owns 744 shares of the industrial products company’s stock worth $378,000 after acquiring an additional 22 shares in the last quarter. Finally, Forefront Wealth Partners LLC boosted its position in shares of Deere & Company by 4.1% during the third quarter. Forefront Wealth Partners LLC now owns 564 shares of the industrial products company’s stock valued at $258,000 after purchasing an additional 22 shares in the last quarter. Institutional investors own 68.58% of the company’s stock.

Insiders Place Their Bets

In other Deere & Company news, CEO John C. May II sold 41,472 shares of Deere & Company 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 completion of the transaction, the chief executive officer directly owned 117,970 shares of the company’s stock, valued at $59,160,775.30. This trade represents a 26.01% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Cory J. Reed sold 12,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 14th. The stock was sold at an average price of $510.00, for a total value of $6,120,000.00. Following the sale, the insider directly owned 20,792 shares in the company, valued at $10,603,920. The trade was a 36.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 64,578 shares of company stock valued at $32,471,682. 0.29% of the stock is currently owned by insiders.

Deere & Company Stock Performance

DE opened at $599.90 on Wednesday. The firm has a market cap of $162.61 billion, a P/E ratio of 32.41, a PEG ratio of 2.40 and a beta of 1.02. Deere & Company has a 1-year low of $404.42 and a 1-year high of $626.25. The company has a 50 day simple moving average of $513.04 and a two-hundred day simple moving average of $488.37. 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 announced 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 net margin of 11.00% and a return on equity of 20.54%. The business had revenue of $12.39 billion during the quarter, compared to analysts’ expectations of $9.77 billion. During the same quarter in the previous year, the firm earned $4.55 earnings per share. Deere & Company’s revenue was up 14.1% on a year-over-year basis. Equities analysts forecast that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. UBS Group reissued a “buy” rating on shares of Deere & Company in a research note on Tuesday, November 25th. Truist Financial lifted 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. Daiwa Securities Group decreased their target price on shares of Deere & Company from $530.00 to $520.00 and set an “outperform” rating for the company in a report on Tuesday, December 2nd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Deere & Company in a research report on Monday, December 29th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $560.00 price objective on shares of Deere & Company in a research report on Tuesday, December 9th. Fifteen equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat, Deere & Company has a consensus rating of “Moderate Buy” and a consensus price target 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.