Calamos Advisors LLC Sells 22,310 Shares of Deere & Company $DE

Calamos Advisors LLC cut its stake in shares of Deere & Company (NYSE:DE) by 29.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 52,598 shares of the industrial products company’s stock after selling 22,310 shares during the period. Calamos Advisors LLC’s holdings in Deere & Company were worth $24,051,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Mid American Wealth Advisory Group Inc. bought a new stake in shares of Deere & Company in the 2nd quarter valued at about $25,000. Howard Hughes Medical Institute bought a new stake in Deere & Company in the second quarter valued at approximately $27,000. Marshall & Sullivan Inc. WA acquired a new stake in Deere & Company in the second quarter worth $38,000. Center for Financial Planning Inc. raised its holdings in Deere & Company by 406.7% in the second quarter. Center for Financial Planning Inc. now owns 76 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 61 shares during the period. Finally, Livelsberger Financial Advisory bought a new position in shares of Deere & Company during the second quarter worth $39,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Stock Down 0.0%

DE stock opened at $470.11 on Wednesday. The company has a debt-to-equity ratio of 1.68, a current ratio of 2.22 and a quick ratio of 2.01. The stock has a market capitalization of $127.14 billion, a P/E ratio of 25.40, a P/E/G ratio of 1.80 and a beta of 1.00. The business has a 50-day moving average of $473.46 and a 200-day moving average of $484.07. Deere & Company has a fifty-two week low of $403.01 and a fifty-two week high of $533.78.

Deere & Company (NYSE:DE) last announced its earnings results 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 firm had revenue of $12.39 billion during the quarter, compared to analyst estimates of $9.77 billion. Deere & Company had a net margin of 11.00% and a return on equity of 20.54%. The firm’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same period in the prior year, the business posted $4.55 EPS. On average, sell-side analysts anticipate 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 given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Wednesday, December 31st. Deere & Company’s payout ratio is currently 35.01%.

Analyst Ratings Changes

DE has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods restated an “outperform” rating on shares of Deere & Company in a research report on Monday, December 1st. Morgan Stanley reissued an “overweight” rating and issued a $560.00 target price on shares of Deere & Company in a research note on Tuesday, December 9th. Daiwa Capital Markets dropped their price target on Deere & Company from $530.00 to $520.00 and set an “outperform” rating on the stock in a research report on Tuesday, December 2nd. Citigroup cut their price objective on Deere & Company from $525.00 to $515.00 and set a “neutral” rating on the stock in a report on Tuesday, October 7th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Deere & Company in a research report on Monday. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat, Deere & Company has an average rating of “Moderate Buy” and a consensus price target of $522.70.

Insider Buying and Selling

In related news, CEO John C. May II sold 11,106 shares of the firm’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $500.08, for a total value of $5,553,888.48. Following the completion of the transaction, the chief executive officer owned 112,453 shares of the company’s stock, valued at approximately $56,235,496.24. This trade represents a 8.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.29% of the company’s stock.

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.