First Horizon Corp Buys New Shares in Deere & Company $DE

First Horizon Corp purchased a new position in Deere & Company (NYSE:DE) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,830 shares of the industrial products company’s stock, valued at approximately $837,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Southland Equity Partners LLC boosted its stake in shares of Deere & Company by 3.9% in the second quarter. Southland Equity Partners LLC now owns 534 shares of the industrial products company’s stock worth $271,000 after acquiring an additional 20 shares during the period. Vivid Wealth Management LLC lifted its holdings in Deere & Company by 1.9% in the 2nd quarter. Vivid Wealth Management LLC now owns 1,088 shares of the industrial products company’s stock worth $553,000 after purchasing an additional 20 shares in the last quarter. Werba Rubin Papier Wealth Management boosted its stake in Deere & Company by 3.0% in the 2nd quarter. Werba Rubin Papier Wealth Management now owns 676 shares of the industrial products company’s stock worth $344,000 after purchasing an additional 20 shares during the period. Prairie Wealth Advisors Inc. grew its holdings in Deere & Company by 2.1% during the 2nd quarter. Prairie Wealth Advisors Inc. now owns 964 shares of the industrial products company’s stock valued at $492,000 after buying an additional 20 shares in the last quarter. Finally, Trilogy Capital Inc. grew its holdings in Deere & Company by 1.3% during the 2nd quarter. Trilogy Capital Inc. now owns 1,692 shares of the industrial products company’s stock valued at $860,000 after buying an additional 21 shares in the last quarter. 68.58% of the stock is owned by institutional investors.

Insider Transactions at Deere & Company

In other Deere & Company news, CEO John C. May II sold 41,472 shares of Deere & Company stock in a transaction on Thursday, January 8th. The shares were sold at an average price of $501.49, for a total transaction of $20,797,793.28. Following the completion of the transaction, the chief executive officer directly owned 117,970 shares of the company’s stock, valued at $59,160,775.30. The trade was a 26.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.29% of the stock is currently owned by corporate insiders.

Deere & Company Stock Up 0.6%

Shares of NYSE DE opened at $490.82 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 12-month low of $404.42 and a 12-month high of $533.78. The firm’s 50-day moving average price is $475.30 and its 200-day moving average price is $481.56. The stock has a market capitalization of $132.74 billion, a price-to-earnings ratio of 26.52, a P/E/G ratio of 1.87 and a beta of 1.00.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Wednesday, November 26th. The industrial products company reported $3.93 earnings per share 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 company had revenue of $12.39 billion for the quarter, compared to the consensus estimate of $9.77 billion. During the same period in the previous year, the firm earned $4.55 earnings per share. The company’s revenue was up 14.1% compared to the same quarter last year. On average, equities research analysts anticipate that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, February 9th. Investors of record on Wednesday, December 31st will be issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 1.3%. The ex-dividend date is Wednesday, December 31st. Deere & Company’s dividend payout ratio is presently 35.01%.

Analyst Ratings Changes

DE has been the subject of a number of research reports. Robert W. Baird dropped their target price on shares of Deere & Company from $488.00 to $467.00 and set a “neutral” rating for the company in a research report on Monday, October 13th. Daiwa Capital Markets decreased their price target on shares of Deere & Company from $530.00 to $520.00 and set an “outperform” rating on the stock in a research note on Tuesday, December 2nd. UBS Group reissued a “buy” rating on shares of Deere & Company in a report on Tuesday, November 25th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of Deere & Company in a report on Monday, December 1st. Finally, Wells Fargo & Company initiated coverage on Deere & Company in a research report on Thursday, November 13th. They issued an “overweight” rating and a $543.00 target price on the stock. 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 stock. Based on data from MarketBeat.com, Deere & Company has a consensus 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.