Advisors Capital Management LLC Has $28.66 Million Stake in Deere & Company $DE

Advisors Capital Management LLC increased its position in Deere & Company (NYSE:DE) by 1.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 62,672 shares of the industrial products company’s stock after purchasing an additional 886 shares during the quarter. Advisors Capital Management LLC’s holdings in Deere & Company were worth $28,658,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Brighton Jones LLC lifted its holdings in shares of Deere & Company by 39.1% during the 4th quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company’s stock worth $1,927,000 after acquiring an additional 1,278 shares during the period. Chicago Partners Investment Group LLC raised its position in Deere & Company by 3.5% in the second quarter. Chicago Partners Investment Group LLC now owns 1,867 shares of the industrial products company’s stock worth $962,000 after purchasing an additional 64 shares in the last quarter. Stephens Inc. AR lifted its stake in Deere & Company by 4.4% during the second quarter. Stephens Inc. AR now owns 7,214 shares of the industrial products company’s stock worth $3,668,000 after purchasing an additional 305 shares during the period. Evermay Wealth Management LLC lifted its stake in Deere & Company by 102.6% during the second quarter. Evermay Wealth Management LLC now owns 314 shares of the industrial products company’s stock worth $160,000 after purchasing an additional 159 shares during the period. Finally, Schnieders Capital Management LLC. boosted its holdings in Deere & Company by 7.8% during the second quarter. Schnieders Capital Management LLC. now owns 2,076 shares of the industrial products company’s stock valued at $1,056,000 after purchasing an additional 150 shares in the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Trading Down 0.5%

Shares of NYSE DE opened at $599.90 on Wednesday. Deere & Company has a 1-year low of $404.42 and a 1-year high of $626.25. The company has a 50-day moving average of $513.04 and a two-hundred day moving average of $488.37. The company has a market cap of $162.61 billion, a PE ratio of 32.41, a P/E/G ratio of 2.40 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.

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

Deere & Company Dividend Announcement

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

Analyst Ratings Changes

DE has been the subject of a number of recent research reports. Royal Bank Of Canada dropped their target price on Deere & Company from $542.00 to $541.00 and set an “outperform” rating for the company in a report on Friday, November 28th. Evercore reissued a “positive” rating on shares of Deere & Company in a report on Friday, November 28th. Sanford C. Bernstein restated a “market perform” rating on shares of Deere & Company in a research note on Tuesday, December 9th. Truist Financial increased their target price on shares of Deere & Company from $609.00 to $612.00 and gave the stock a “buy” rating in a research report on Friday, November 28th. Finally, DA Davidson reissued a “buy” rating and set a $580.00 price target on shares of Deere & Company in a report on Monday, December 1st. Fifteen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $524.20.

Insiders Place Their Bets

In related news, insider Cory J. Reed sold 12,000 shares of the firm’s stock in a transaction dated 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 transaction, the insider owned 20,792 shares in the company, valued at $10,603,920. This trade represents a 36.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John C. May II sold 41,472 shares of Deere & Company stock in a transaction dated 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 sale, the chief executive officer owned 117,970 shares of the company’s stock, valued at approximately $59,160,775.30. The trade was a 26.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 64,578 shares of company stock valued at $32,471,682. 0.29% of the stock is currently owned by corporate 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.