Swiss National Bank Sells 38,900 Shares of Deere & Company $DE

Swiss National Bank decreased its position in shares of Deere & Company (NYSE:DE) by 5.0% in the third quarter, HoldingsChannel reports. The fund owned 741,700 shares of the industrial products company’s stock after selling 38,900 shares during the quarter. Swiss National Bank’s holdings in Deere & Company were worth $339,150,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of DE. Howard Hughes Medical Institute acquired a new position in shares of Deere & Company during the second quarter worth $27,000. Activest Wealth Management lifted its holdings in shares of 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 purchasing an additional 27 shares during the last quarter. Soundwatch Capital LLC acquired a new stake in shares of Deere & Company in the 2nd quarter worth $41,000. United Community Bank boosted its position in shares of Deere & Company by 67.3% in the 3rd quarter. United Community Bank now owns 92 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 37 shares in the last quarter. Finally, Lynch Asset Management Inc. purchased a new position in Deere & Company during the 3rd quarter worth $46,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Cory J. Reed sold 12,000 shares of the company’s stock in a transaction 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 sale, the insider directly owned 20,792 shares of the company’s stock, valued at $10,603,920. This represents a 36.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 transaction of $20,797,793.28. Following the completion of the sale, the chief executive officer owned 117,970 shares in the company, valued at $59,160,775.30. The trade was a 26.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.29% of the company’s stock.

Deere & Company Stock Down 0.2%

Deere & Company stock opened at $589.22 on Monday. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.96 and a current ratio of 2.21. The business’s 50-day simple moving average is $551.94 and its two-hundred day simple moving average is $499.62. The company has a market cap of $159.15 billion, a PE ratio of 33.21, a PEG ratio of 2.07 and a beta of 0.96. Deere & Company has a fifty-two week low of $404.42 and a fifty-two week high of $674.19.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, February 19th. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $9.61 billion during the quarter, compared to analysts’ expectations of $7.50 billion. During the same period last year, the business posted $3.19 earnings per share. The company’s revenue for the quarter was up 17.5% compared to the same quarter last year. Equities analysts anticipate that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Announces Dividend

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

Analyst Ratings Changes

DE has been the topic of several recent analyst reports. Wolfe Research upped their target price on Deere & Company from $520.00 to $550.00 and gave the company an “outperform” rating in a research report on Friday, January 2nd. Royal Bank Of Canada raised their price target on Deere & Company from $541.00 to $736.00 and gave the stock an “outperform” rating in a report on Friday, February 20th. Bank of America upped their price objective on shares of Deere & Company from $502.00 to $672.00 and gave the company a “neutral” rating in a report on Friday, February 20th. Argus increased their price objective on shares of Deere & Company from $540.00 to $700.00 and gave the company a “buy” rating in a research report on Tuesday, March 3rd. Finally, Truist Financial lifted their target price on shares of Deere & Company from $612.00 to $793.00 and gave the stock a “buy” rating in a research note on Friday, February 20th. 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. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $647.20.

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.