Deere & Company $DE Shares Purchased by Ascent Group LLC

Ascent Group LLC boosted its position in shares of Deere & Company (NYSE:DE) by 84.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,243 shares of the industrial products company’s stock after purchasing an additional 1,942 shares during the period. Ascent Group LLC’s holdings in Deere & Company were worth $1,941,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in DE. Brighton Jones LLC increased its stake in Deere & Company by 39.1% during the fourth 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 last quarter. EP Wealth Advisors LLC grew its holdings in shares of Deere & Company by 0.4% during the 1st quarter. EP Wealth Advisors LLC now owns 5,503 shares of the industrial products company’s stock worth $2,583,000 after purchasing an additional 23 shares during the period. Adage Capital Partners GP L.L.C. increased its position in shares of Deere & Company by 107.5% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 112,342 shares of the industrial products company’s stock worth $52,728,000 after purchasing an additional 58,199 shares during the last quarter. Aprio Wealth Management LLC raised its holdings in Deere & Company by 10.6% in the 1st quarter. Aprio Wealth Management LLC now owns 739 shares of the industrial products company’s stock valued at $347,000 after buying an additional 71 shares during the period. Finally, Bosun Asset Management LLC lifted its position in Deere & Company by 1.9% in the first quarter. Bosun Asset Management LLC now owns 1,529 shares of the industrial products company’s stock valued at $718,000 after buying an additional 29 shares during the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on DE shares. Wall Street Zen cut shares of Deere & Company from a “hold” rating to a “sell” rating in a research report on Friday, November 28th. Oppenheimer lifted their target price on shares of Deere & Company from $512.00 to $531.00 and gave the company an “outperform” rating in a report on Friday, November 28th. Royal Bank Of Canada cut their target price on Deere & Company from $542.00 to $541.00 and set an “outperform” rating on the stock in a research report on Friday, November 28th. DA Davidson restated a “buy” rating and set a $580.00 price target on shares of Deere & Company in a research report on Monday, December 1st. Finally, JPMorgan Chase & Co. dropped their price objective on Deere & Company from $480.00 to $460.00 and set a “neutral” rating for the company in a research note on Friday, December 19th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $522.70.

Insider Transactions at Deere & Company

In other Deere & Company news, CEO John C. May II sold 11,106 shares of the business’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $500.08, for a total transaction of $5,553,888.48. Following the completion of the transaction, the chief executive officer owned 112,453 shares in the company, valued at $56,235,496.24. The trade was a 8.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.29% of the stock is owned by corporate insiders.

Deere & Company Trading Down 0.9%

NYSE:DE opened at $465.73 on Friday. Deere & Company has a 12-month low of $403.01 and a 12-month high of $533.78. The firm has a market cap of $125.96 billion, a PE ratio of 25.16, a price-to-earnings-growth ratio of 1.78 and a beta of 1.00. 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 stock has a fifty day moving average price of $473.45 and a 200 day moving average price of $483.81.

Deere & Company (NYSE:DE) last posted its quarterly 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 company 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%. Deere & Company’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same period in the prior year, the business earned $4.55 EPS. Sell-side analysts anticipate 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 will be paid on Monday, February 9th. Investors of record on Wednesday, December 31st will be issued a $1.62 dividend. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $6.48 annualized dividend and a yield of 1.4%. Deere & Company’s dividend payout ratio (DPR) is 35.01%.

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.