MidWestOne Financial Group Inc. Sells 4,961 Shares of Deere & Company $DE

MidWestOne Financial Group Inc. reduced its position in shares of Deere & Company (NYSE:DEFree Report) by 50.8% in the third quarter, HoldingsChannel reports. The institutional investor owned 4,805 shares of the industrial products company’s stock after selling 4,961 shares during the quarter. MidWestOne Financial Group Inc.’s holdings in Deere & Company were worth $2,197,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in DE. Leisure Capital Management boosted its holdings in shares of Deere & Company by 1.8% during the third quarter. Leisure Capital Management now owns 2,952 shares of the industrial products company’s stock worth $1,350,000 after purchasing an additional 51 shares during the period. Lyell Wealth Management LP raised its position in Deere & Company by 4.7% during the 3rd quarter. Lyell Wealth Management LP now owns 16,482 shares of the industrial products company’s stock valued at $7,537,000 after purchasing an additional 733 shares during the last quarter. Columbia Bank raised its position in Deere & Company by 2.2% during the 3rd quarter. Columbia Bank now owns 5,073 shares of the industrial products company’s stock valued at $2,275,000 after purchasing an additional 108 shares during the last quarter. Good Steward Wealth Advisors LLC lifted its holdings in Deere & Company by 2.6% in the 3rd quarter. Good Steward Wealth Advisors LLC now owns 1,684 shares of the industrial products company’s stock worth $770,000 after buying an additional 43 shares during the period. Finally, Public Sector Pension Investment Board grew its position in shares of Deere & Company by 14.6% in the 3rd quarter. Public Sector Pension Investment Board now owns 21,174 shares of the industrial products company’s stock worth $9,682,000 after buying an additional 2,702 shares during the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company News Summary

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

Deere & Company Stock Performance

Shares of Deere & Company stock opened at $602.54 on Friday. Deere & Company has a 12 month low of $404.42 and a 12 month high of $626.25. The firm has a market capitalization of $163.33 billion, a P/E ratio of 32.55, a P/E/G ratio of 2.39 and a beta of 1.02. The company has a current ratio of 2.22, a quick ratio of 2.01 and a debt-to-equity ratio of 1.68. The business has a fifty day simple moving average of $507.56 and a two-hundred day simple moving average of $487.44.

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

Deere & Company Announces Dividend

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

Analyst Ratings Changes

DE has been the topic of several research analyst reports. Weiss Ratings reissued a “hold (c+)” rating on shares of Deere & Company in a research note on Monday, December 29th. UBS Group reissued a “buy” rating on shares of Deere & Company in a research report on Tuesday, November 25th. 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. Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of Deere & Company in a research report on Monday, December 1st. Finally, Wolfe Research boosted their price target on shares of Deere & Company from $520.00 to $550.00 and gave the company an “outperform” rating in a research report on Friday, January 2nd. Fifteen investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, Deere & Company has a consensus rating of “Moderate Buy” and an average price target of $524.20.

Check Out Our Latest Report on Deere & Company

Insider Activity at Deere & Company

In related news, insider Cory J. Reed sold 12,000 shares of the firm’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 transaction of $6,120,000.00. Following the completion of the transaction, the insider owned 20,792 shares of the company’s stock, valued at $10,603,920. This trade represents a 36.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 transaction, the chief executive officer owned 117,970 shares of the company’s stock, valued at $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 64,578 shares of company stock valued at $32,471,682 over the last quarter. Company insiders own 0.29% of the company’s stock.

Deere & Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Deere & Company (NYSE:DE)

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