Commonwealth Equity Services LLC Sells 10,067 Shares of Deere & Company $DE

Commonwealth Equity Services LLC trimmed its position in shares of Deere & Company (NYSE:DE) by 5.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 164,310 shares of the industrial products company’s stock after selling 10,067 shares during the period. Commonwealth Equity Services LLC owned approximately 0.06% of Deere & Company worth $75,133,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new stake in Deere & Company during the second quarter worth $1,578,243,000. Marshall Wace LLP lifted its stake in Deere & Company by 573.9% during the second quarter. Marshall Wace LLP now owns 842,882 shares of the industrial products company’s stock worth $428,597,000 after purchasing an additional 717,808 shares during the period. TD Asset Management Inc boosted its holdings in Deere & Company by 132.0% during the second quarter. TD Asset Management Inc now owns 721,638 shares of the industrial products company’s stock valued at $366,946,000 after purchasing an additional 410,636 shares in the last quarter. Voya Investment Management LLC raised its holdings in shares of Deere & Company by 97.1% in the 1st quarter. Voya Investment Management LLC now owns 733,871 shares of the industrial products company’s stock worth $344,442,000 after buying an additional 361,526 shares in the last quarter. Finally, Laurel Wealth Advisors LLC grew its position in Deere & Company by 50,691.9% in the second quarter. Laurel Wealth Advisors LLC now owns 332,179 shares of the industrial products company’s stock valued at $168,910,000 after acquiring an additional 331,525 shares during the period. Institutional investors and hedge funds own 68.58% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on DE. UBS Group restated a “buy” rating on shares of Deere & Company in a research note on Tuesday, November 25th. Royal Bank Of Canada cut their target price on shares of Deere & Company from $542.00 to $541.00 and set an “outperform” rating for the company in a research note on Friday, November 28th. Keefe, Bruyette & Woods restated an “outperform” rating on shares of Deere & Company in a research report on Monday, December 1st. Truist Financial lifted their price objective on Deere & Company from $609.00 to $612.00 and gave the company a “buy” rating in a research report on Friday, November 28th. Finally, Sanford C. Bernstein restated a “market perform” rating on shares of Deere & Company in a report on Tuesday, December 9th. One investment 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $524.20.

Insider Buying and Selling at Deere & Company

In related news, CEO John C. May II sold 11,106 shares of Deere & Company stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $500.08, for a total transaction of $5,553,888.48. Following the completion of the sale, the chief executive officer directly owned 112,453 shares of the company’s stock, valued at $56,235,496.24. The trade was a 8.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.29% of the stock is currently owned by company insiders.

Deere & Company Stock Performance

Shares of NYSE:DE opened at $465.89 on Tuesday. 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 has a 1-year low of $403.01 and a 1-year high of $533.78. The stock has a market capitalization of $126.00 billion, a P/E ratio of 25.17, a P/E/G ratio of 1.79 and a beta of 1.00. The business has a 50-day moving average price of $473.09 and a two-hundred day moving average price of $482.42.

Deere & Company (NYSE:DE) last issued 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 return on equity of 20.54% and a net margin of 11.00%.The business had revenue of $12.39 billion for the quarter, compared to analyst estimates of $9.77 billion. During the same quarter in the prior year, the firm earned $4.55 EPS. The firm’s quarterly revenue was up 14.1% compared to the same quarter last year. Equities analysts predict that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, February 9th. Stockholders of record on Wednesday, December 31st will be paid a $1.62 dividend. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.4%. Deere & Company’s dividend payout ratio is 35.01%.

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.