Deere & Company $DE Stock Holdings Lifted by Csenge Advisory Group

Csenge Advisory Group lifted its stake in shares of Deere & Company (NYSE:DE) by 84.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,440 shares of the industrial products company’s stock after acquiring an additional 3,416 shares during the quarter. Csenge Advisory Group’s holdings in Deere & Company were worth $3,402,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of DE. TKG Advisors LLC lifted its holdings in shares of Deere & Company by 13.8% during the third quarter. TKG Advisors LLC now owns 1,203 shares of the industrial products company’s stock valued at $550,000 after purchasing an additional 146 shares during the last quarter. Deroy & Devereaux Private Investment Counsel Inc. grew its position in Deere & Company by 16.0% during the third quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 725 shares of the industrial products company’s stock valued at $332,000 after purchasing an additional 100 shares in the last quarter. Harbour Trust & Investment Management Co increased its stake in shares of Deere & Company by 2.1% in the third quarter. Harbour Trust & Investment Management Co now owns 29,705 shares of the industrial products company’s stock worth $13,583,000 after acquiring an additional 620 shares during the last quarter. Sunbeam Capital Management LLC increased its position in Deere & Company by 3.5% in the 3rd quarter. Sunbeam Capital Management LLC now owns 1,065 shares of the industrial products company’s stock worth $487,000 after purchasing an additional 36 shares during the last quarter. Finally, Retirement Planning Group LLC NY increased its stake in shares of Deere & Company by 18.0% during the 3rd quarter. Retirement Planning Group LLC NY now owns 885 shares of the industrial products company’s stock worth $406,000 after purchasing an additional 135 shares during the last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Stock Performance

Shares of Deere & Company stock opened at $514.62 on Friday. The firm has a fifty day moving average of $478.44 and a two-hundred day moving average of $481.95. The company has a debt-to-equity ratio of 1.68, a quick ratio of 2.01 and a current ratio of 2.22. The stock has a market capitalization of $139.18 billion, a price-to-earnings ratio of 27.80, a PEG ratio of 1.97 and a beta of 1.00. Deere & Company has a 52 week low of $404.42 and a 52 week high of $533.78.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Wednesday, November 26th. The industrial products company reported $3.93 EPS for the quarter, missing analysts’ consensus estimates of $3.96 by ($0.03). The company had revenue of $12.39 billion for the quarter, compared to analyst estimates of $9.77 billion. Deere & Company had a return on equity of 20.54% and a net margin of 11.00%.The firm’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same period last year, the firm earned $4.55 earnings per share. As a group, equities research analysts predict that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

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

Insider Transactions at Deere & Company

In related news, CEO John C. May II sold 41,472 shares of the stock in a transaction that occurred on Thursday, January 8th. The shares were sold at an average price of $501.49, for a total value of $20,797,793.28. Following the sale, the chief executive officer directly owned 117,970 shares in the company, valued at $59,160,775.30. This trade represents a 26.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Cory J. Reed sold 12,000 shares of Deere & Company stock in a transaction that occurred on Wednesday, January 14th. The stock was sold at an average price of $510.00, for a total transaction of $6,120,000.00. Following the transaction, the insider directly owned 20,792 shares in the company, valued at $10,603,920. The trade was a 36.59% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 64,578 shares of company stock valued at $32,471,682. 0.29% of the stock is currently owned by company insiders.

Analyst Ratings Changes

DE has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. cut their price objective on Deere & Company from $480.00 to $460.00 and set a “neutral” rating on the stock in a research note on Friday, December 19th. BMO Capital Markets reissued a “market perform” rating and set a $460.00 price objective on shares of Deere & Company in a report on Tuesday, December 9th. Weiss Ratings restated a “hold (c+)” rating on shares of Deere & Company in a research note on Monday, December 29th. Citigroup cut their price target on shares of Deere & Company from $525.00 to $515.00 and set a “neutral” rating for the company in a report on Tuesday, October 7th. Finally, Wells Fargo & Company started coverage on Deere & Company in a report on Thursday, November 13th. They set an “overweight” rating and a $543.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat, Deere & Company has an average rating of “Moderate Buy” and a consensus price target of $524.20.

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.