Deere & Company $DE Shares Sold by TD Asset Management Inc

TD Asset Management Inc lessened its position in Deere & Company (NYSE:DE) by 17.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 594,899 shares of the industrial products company’s stock after selling 126,739 shares during the period. TD Asset Management Inc owned approximately 0.22% of Deere & Company worth $272,024,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in DE. Colonial Trust Co SC lifted its stake in Deere & Company by 15.2% during the third quarter. Colonial Trust Co SC now owns 3,873 shares of the industrial products company’s stock valued at $1,771,000 after buying an additional 511 shares in the last quarter. Mufg Securities Americas Inc. lifted its stake in Deere & Company by 21.4% in the third quarter. Mufg Securities Americas Inc. now owns 6,792 shares of the industrial products company’s stock valued at $3,106,000 after acquiring an additional 1,198 shares during the last quarter. Lake Street Private Wealth LLC boosted its holdings in Deere & Company by 2.7% in the third quarter. Lake Street Private Wealth LLC now owns 1,588 shares of the industrial products company’s stock worth $726,000 after purchasing an additional 41 shares in the last quarter. Baldwin Investment Management LLC grew its position in shares of Deere & Company by 10.7% in the third quarter. Baldwin Investment Management LLC now owns 3,999 shares of the industrial products company’s stock valued at $1,829,000 after purchasing an additional 385 shares during the last quarter. Finally, First Financial Bankshares Inc increased its position in Deere & Company by 42.6% in the 3rd quarter. First Financial Bankshares Inc now owns 1,229 shares of the industrial products company’s stock worth $562,000 after buying an additional 367 shares during the period. Institutional investors and hedge funds own 68.58% of the company’s stock.

Insider Transactions at Deere & Company

In related news, 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 sale, the chief executive officer directly owned 117,970 shares of the company’s stock, valued at approximately $59,160,775.30. This trade represents a 26.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed 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 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 approximately $10,603,920. The trade was a 36.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.29% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on DE shares. Zacks Research upgraded shares of Deere & Company from a “strong sell” rating to a “hold” rating in a research report on Wednesday, December 3rd. Sanford C. Bernstein lifted their price target on shares of Deere & Company from $521.00 to $615.00 and gave the stock a “market perform” rating in a research report on Friday, February 20th. Morgan Stanley increased their target price on Deere & Company from $560.00 to $730.00 and gave the company an “overweight” rating in a research note on Monday. Raymond James Financial reaffirmed an “outperform” rating and set a $765.00 price objective on shares of Deere & Company in a research note on Monday. Finally, Evercore reiterated a “positive” rating on shares of Deere & Company in a report on Friday, November 28th. Fifteen analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $637.70.

Deere & Company Stock Down 0.3%

Shares of DE opened at $644.88 on Wednesday. The company has a debt-to-equity ratio of 1.59, a current ratio of 2.21 and a quick ratio of 1.96. Deere & Company has a one year low of $404.42 and a one year high of $674.19. The company has a market cap of $174.81 billion, a P/E ratio of 36.35, a P/E/G ratio of 2.36 and a beta of 1.02. The firm has a 50 day simple moving average of $528.91 and a two-hundred day simple moving average of $492.95.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, February 19th. The industrial products company reported $2.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.90 by $0.52. Deere & Company had a net margin of 10.29% and a return on equity of 18.93%. The firm had revenue of $9.61 billion for the quarter, compared to analyst estimates of $7.50 billion. During the same quarter last year, the business posted $3.19 earnings per share. The company’s quarterly revenue was up 17.5% on a year-over-year basis. Research analysts forecast that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, February 9th. Investors of record on Wednesday, December 31st were given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date was Wednesday, December 31st. Deere & Company’s payout ratio is presently 36.53%.

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.