L.M. Kohn & Company Sells 1,567 Shares of Deere & Company $DE

L.M. Kohn & Company cut its position in Deere & Company (NYSE:DE) by 75.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 501 shares of the industrial products company’s stock after selling 1,567 shares during the quarter. L.M. Kohn & Company’s holdings in Deere & Company were worth $229,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Deere & Company by 1.4% in the 2nd quarter. Vanguard Group Inc. now owns 22,372,671 shares of the industrial products company’s stock worth $11,376,279,000 after acquiring an additional 309,081 shares during the last quarter. State Street Corp lifted its stake in Deere & Company by 0.6% in the second quarter. State Street Corp now owns 10,386,268 shares of the industrial products company’s stock worth $5,297,913,000 after purchasing an additional 64,262 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Deere & Company by 2.1% during the 2nd quarter. Geode Capital Management LLC now owns 5,541,778 shares of the industrial products company’s stock valued at $2,810,807,000 after acquiring an additional 111,627 shares during the period. Norges Bank purchased a new stake in shares of Deere & Company during the second quarter valued at approximately $1,578,243,000. Finally, Fisher Asset Management LLC boosted its position in Deere & Company by 10.1% during the 2nd quarter. Fisher Asset Management LLC now owns 2,580,228 shares of the industrial products company’s stock valued at $1,312,020,000 after buying an additional 236,406 shares during the period. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Key Headlines Impacting Deere & Company

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

Insider Activity at Deere & Company

In other Deere & Company news, insider Cory J. Reed sold 12,000 shares of Deere & Company 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 owned 20,792 shares of the company’s stock, valued at $10,603,920. The trade was a 36.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 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 have sold a total of 64,578 shares of company stock valued at $32,471,682 in the last 90 days. 0.29% of the stock is currently owned by company insiders.

Deere & Company Trading Down 0.7%

Shares of DE stock opened at $526.11 on Friday. The stock has a fifty day simple moving average of $487.18 and a two-hundred day simple moving average of $482.46. The firm has a market capitalization of $142.61 billion, a PE ratio of 28.42, a PEG ratio of 2.11 and a beta of 1.00. Deere & Company has a 52-week low of $404.42 and a 52-week high of $537.26. The company has a debt-to-equity ratio of 1.68, a quick ratio of 2.01 and a current ratio of 2.22.

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

Deere & Company Announces Dividend

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

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Evercore ISI reiterated a “positive” rating on shares of Deere & Company in a research report on Friday, November 28th. DA Davidson restated a “buy” rating and issued a $580.00 price objective on shares of Deere & Company in a report on Monday, December 1st. JPMorgan Chase & Co. reduced their price target on Deere & Company from $480.00 to $460.00 and set a “neutral” rating for the company in a report on Friday, December 19th. Daiwa Capital Markets decreased their price objective 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. Finally, Truist Financial boosted their target price on Deere & Company from $609.00 to $612.00 and gave the stock a “buy” rating in a research report on Friday, November 28th. Fifteen analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, Deere & Company presently has a consensus rating of “Moderate Buy” and a consensus target price of $524.20.

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.