National Pension Service Increases Stock Position in Deere & Company $DE

National Pension Service raised its stake in shares of Deere & Company (NYSE:DE) by 1.8% in the third quarter, Holdings Channel.com reports. The fund owned 602,587 shares of the industrial products company’s stock after purchasing an additional 10,535 shares during the period. National Pension Service’s holdings in Deere & Company were worth $275,539,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Brighton Jones LLC raised its position in Deere & Company by 39.1% in the fourth quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company’s stock valued at $1,927,000 after purchasing an additional 1,278 shares during the period. Robeco Institutional Asset Management B.V. grew its stake in shares of Deere & Company by 874.8% in the second quarter. Robeco Institutional Asset Management B.V. now owns 243,914 shares of the industrial products company’s stock valued at $124,028,000 after buying an additional 218,893 shares in the last quarter. Pure Financial Advisors LLC purchased a new stake in shares of Deere & Company in the 2nd quarter valued at $565,000. Hilltop National Bank acquired a new position in Deere & Company during the 2nd quarter worth about $1,825,000. Finally, Trinity Legacy Partners LLC boosted its holdings in Deere & Company by 1.0% during the 2nd quarter. Trinity Legacy Partners LLC now owns 8,431 shares of the industrial products company’s stock valued at $4,281,000 after acquiring an additional 87 shares during the period. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Deere & Company news, insider Cory J. Reed sold 12,000 shares of the stock in a transaction that occurred 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 transaction, the insider directly owned 20,792 shares in the company, valued at $10,603,920. This represents a 36.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO John C. May II sold 41,472 shares of the firm’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 transaction of $20,797,793.28. Following the sale, the chief executive officer directly owned 117,970 shares in the company, valued at approximately $59,160,775.30. The trade was a 26.01% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 64,578 shares of company stock worth $32,471,682 in the last three months. Corporate insiders own 0.29% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on DE. Oppenheimer boosted their price target on shares of Deere & Company from $512.00 to $531.00 and gave the stock an “outperform” rating in a research note on Friday, November 28th. Truist Financial upped their target price on shares of Deere & Company from $609.00 to $612.00 and gave the stock a “buy” rating in a research note on Friday, November 28th. Evercore ISI reiterated a “positive” rating on shares of Deere & Company in a report on Friday, November 28th. Jefferies Financial Group boosted their price target on shares of Deere & Company from $440.00 to $475.00 and gave the stock a “hold” rating in a research note on Tuesday, December 9th. 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 analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $524.20.

Deere & Company Trading Down 0.7%

Shares of NYSE:DE opened at $526.11 on Friday. Deere & Company has a 52 week low of $404.42 and a 52 week high of $537.26. The company’s 50 day moving average is $487.18 and its two-hundred day moving average is $482.46. The company has a market cap of $142.61 billion, a PE ratio of 28.42, a P/E/G ratio of 2.11 and a beta of 1.00. The company has a current ratio of 2.22, a quick ratio of 2.01 and a debt-to-equity ratio of 1.68.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Wednesday, November 26th. The industrial products company reported $3.93 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.96 by ($0.03). The firm had revenue of $12.39 billion for the quarter, compared to analysts’ expectations of $9.77 billion. Deere & Company had a return on equity of 20.54% and a net margin of 11.00%.Deere & Company’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same period last year, the firm posted $4.55 earnings per share. Equities analysts predict that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 9th. Stockholders of record on Wednesday, December 31st will be issued a $1.62 dividend. The ex-dividend date is Wednesday, December 31st. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.2%. Deere & Company’s dividend payout ratio is presently 35.01%.

Deere & Company News Roundup

Here are the key news stories impacting Deere & Company this week:

• Positive Sentiment: Traders rotating out of big tech and into cyclical, economy‑sensitive stocks helped push Deere to an intraday record as investors price in lower rates and stronger growth expectations. Deere shares jump to record as traders rotate out of tech
• Positive Sentiment: Deere is expanding U.S. manufacturing footprint with two new industrial facilities (Indiana and North Carolina), signaling management expects sustained demand and supporting future capacity and service operations. John Deere to Open Two New Industrial Facilities in Indiana, North Carolina
• Positive Sentiment: Deere plans to recall about 99 workers at its Davenport and Dubuque plants in February, a near‑term sign of ramping production and improving order activity at U.S. facilities. John Deere to recall 99 workers at Davenport, Dubuque plants in February

Deere & 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.