Cerity Partners LLC Sells 22,812 Shares of Deere & Company $DE

Cerity Partners LLC lowered its stake in shares of Deere & Company (NYSE:DE) by 12.6% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 158,462 shares of the industrial products company’s stock after selling 22,812 shares during the period. Cerity Partners LLC owned approximately 0.06% of Deere & Company worth $72,458,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Mid American Wealth Advisory Group Inc. bought a new position in Deere & Company during the second quarter valued at approximately $25,000. Howard Hughes Medical Institute purchased a new stake in Deere & Company during the 2nd quarter valued at $27,000. Marshall & Sullivan Inc. WA bought a new position in shares of Deere & Company during the 2nd quarter valued at $38,000. Center for Financial Planning Inc. lifted its holdings in shares of Deere & Company by 406.7% during the 2nd quarter. Center for Financial Planning Inc. now owns 76 shares of the industrial products company’s stock valued at $39,000 after buying an additional 61 shares during the period. Finally, Livelsberger Financial Advisory purchased a new position in shares of Deere & Company in the 2nd quarter worth $39,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Trading Down 2.2%

Deere & Company stock opened at $475.25 on Thursday. Deere & Company has a 12-month low of $403.01 and a 12-month high of $533.78. The firm has a market capitalization of $128.53 billion, a price-to-earnings ratio of 25.68, a P/E/G ratio of 1.86 and a beta of 1.00. The firm has a 50 day moving average of $473.48 and a 200 day moving average of $482.13. 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 posted its quarterly earnings results on Wednesday, November 26th. The industrial products company reported $3.93 earnings per share 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 the consensus estimate of $9.77 billion. Deere & Company had a return on equity of 20.54% and a net margin of 11.00%.The business’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.55 earnings per share. As a group, research analysts predict that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

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

Insider Buying and Selling

In other news, CEO John C. May II sold 11,106 shares of the business’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $500.08, for a total value of $5,553,888.48. Following the transaction, the chief executive officer directly owned 112,453 shares in the company, 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.29% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

DE has been the subject of a number of research reports. Wells Fargo & Company assumed coverage on Deere & Company in a research report on Thursday, November 13th. They set an “overweight” rating and a $543.00 price objective for the company. BMO Capital Markets reaffirmed a “market perform” rating and set a $460.00 price target on shares of Deere & Company in a research report on Tuesday, December 9th. Evercore ISI reiterated a “positive” rating on shares of Deere & Company in a research note on Friday, November 28th. Morgan Stanley restated an “overweight” rating and set a $560.00 target price on shares of Deere & Company in a research report on Tuesday, December 9th. Finally, Robert W. Baird reduced their target price on shares of Deere & Company from $488.00 to $467.00 and set a “neutral” rating for the company in a report on Monday, October 13th. 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. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $524.20.

Deere & Company 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.