JCIC Asset Management Inc. Invests $2.47 Million in Deere & Company $DE

JCIC Asset Management Inc. bought a new stake in shares of Deere & Company (NYSE:DE) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 5,394 shares of the industrial products company’s stock, valued at approximately $2,466,000.

Other large investors also recently bought and sold shares of the company. Brighton Jones LLC raised its position in shares of Deere & Company by 39.1% during the 4th quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company’s stock valued at $1,927,000 after buying an additional 1,278 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in Deere & Company by 1.2% during the second quarter. Assenagon Asset Management S.A. now owns 13,788 shares of the industrial products company’s stock worth $7,011,000 after acquiring an additional 163 shares during the last quarter. Diversified Trust Co raised its position in Deere & Company by 0.9% during the second quarter. Diversified Trust Co now owns 2,686 shares of the industrial products company’s stock valued at $1,366,000 after purchasing an additional 23 shares during the period. AA Financial Advisors LLC bought a new stake in shares of Deere & Company in the 2nd quarter valued at approximately $208,000. Finally, Farther Finance Advisors LLC lifted its stake in shares of Deere & Company by 49.8% in the 2nd quarter. Farther Finance Advisors LLC now owns 4,822 shares of the industrial products company’s stock valued at $2,452,000 after purchasing an additional 1,602 shares during the last quarter. Institutional investors own 68.58% of the company’s stock.

Insider Buying and Selling at Deere & Company

In other Deere & Company news, CEO John C. May II sold 41,472 shares of the company’s stock in a transaction on Thursday, January 8th. The stock was sold at an average price of $501.49, for a total value of $20,797,793.28. Following the completion of the sale, the chief executive officer directly owned 117,970 shares in the company, valued at approximately $59,160,775.30. This represents a 26.01% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Cory J. Reed sold 12,000 shares of the stock in a transaction on Wednesday, January 14th. The stock was sold at an average price of $510.00, for a total value 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 64,578 shares of company stock worth $32,471,682 over the last 90 days. 0.29% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on DE. Citigroup decreased their price target on Deere & Company from $525.00 to $515.00 and set a “neutral” rating on the stock in a report on Tuesday, October 7th. Robert W. Baird cut their price objective on shares of Deere & Company from $488.00 to $467.00 and set a “neutral” rating on the stock in a research report on Monday, October 13th. JPMorgan Chase & Co. reduced their target price on shares of Deere & Company from $480.00 to $460.00 and set a “neutral” rating on the stock in a research note on Friday, December 19th. Truist Financial lifted their price target on shares of Deere & Company from $609.00 to $612.00 and gave the stock a “buy” rating in a research note on Friday, November 28th. Finally, Oppenheimer upped their price target 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. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $524.20.

Deere & Company Trading Down 0.1%

NYSE DE opened at $514.62 on Monday. The stock has a market cap of $139.50 billion, a PE ratio of 27.80, a PEG ratio of 1.97 and a beta of 1.00. Deere & Company has a 12 month low of $404.42 and a 12 month high of $533.78. The company’s 50-day moving average price is $478.44 and its 200-day moving average price is $481.49. 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 announced its quarterly earnings data 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 company had revenue of $12.39 billion for the quarter, compared to the consensus estimate of $9.77 billion. Deere & Company had a net margin of 11.00% and a return on equity of 20.54%. The company’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.55 EPS. Equities research analysts forecast that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 9th. Shareholders 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 (DPR) is presently 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.