Deere & Company $DE Shares Sold by Gladstone Capital Management LLP

Gladstone Capital Management LLP reduced its stake in shares of Deere & Company (NYSE:DE) by 99.9% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 100 shares of the industrial products company’s stock after selling 147,229 shares during the quarter. Deere & Company comprises 0.0% of Gladstone Capital Management LLP’s portfolio, making the stock its 20th biggest holding. Gladstone Capital Management LLP’s holdings in Deere & Company were worth $46,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Howard Hughes Medical Institute purchased a new stake in Deere & Company during the second quarter worth $27,000. Activest Wealth Management increased its holdings in Deere & Company by 69.2% during the 3rd quarter. Activest Wealth Management now owns 66 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 27 shares in the last quarter. Wealth Watch Advisors INC acquired a new position in Deere & Company during the third quarter worth about $32,000. United Community Bank raised its position in Deere & Company by 67.3% during the third quarter. United Community Bank now owns 92 shares of the industrial products company’s stock worth $42,000 after acquiring an additional 37 shares during the last quarter. Finally, Lynch Asset Management Inc. purchased a new stake in shares of Deere & Company in the third quarter valued at about $46,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on DE. Weiss Ratings reiterated a “hold (c+)” rating on shares of Deere & Company in a research report on Monday, December 29th. Daiwa Securities Group reduced their target price on Deere & Company from $530.00 to $520.00 and set an “outperform” rating on the stock in a research note on Tuesday, December 2nd. Evercore reiterated a “positive” rating on shares of Deere & Company in a report on Friday, November 28th. Wolfe Research boosted 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. Finally, Raymond James Financial restated an “outperform” rating and issued a $765.00 target price on shares of Deere & Company in a report on Monday, February 23rd. Sixteen investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $644.70.

Deere & Company Stock Down 1.4%

Shares of NYSE:DE opened at $577.42 on Friday. The stock’s 50-day moving average price is $564.21 and its two-hundred day moving average price is $502.98. The company has a current ratio of 2.21, a quick ratio of 1.96 and a debt-to-equity ratio of 1.59. Deere & Company has a 12-month low of $404.42 and a 12-month high of $674.19. The firm has a market cap of $155.97 billion, a price-to-earnings ratio of 32.55, a PEG ratio of 2.05 and a beta of 0.96.

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

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 8th. Stockholders of record on Tuesday, March 31st will be paid a dividend of $1.62 per share. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $6.48 annualized dividend and a dividend yield of 1.1%. Deere & Company’s payout ratio is currently 36.53%.

Insider Buying and Selling at Deere & Company

In other news, insider Cory J. Reed sold 12,000 shares of the company’s stock in a transaction 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 sale, the insider directly owned 20,792 shares in the company, valued at $10,603,920. This represents a 36.59% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO John C. May II sold 41,472 shares of the stock in a transaction 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 completion of the transaction, 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 SEC filing for this sale provides additional information. 0.29% of the stock is owned by insiders.

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.