Deere & Company $DE Shares Sold by Baillie Gifford & Co.

Baillie Gifford & Co. reduced its stake in Deere & Company (NYSE:DE) by 2.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 542,683 shares of the industrial products company’s stock after selling 11,215 shares during the period. Baillie Gifford & Co. owned approximately 0.20% of Deere & Company worth $248,147,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Mid American Wealth Advisory Group Inc. purchased a new stake in shares of Deere & Company during the 2nd quarter valued at about $25,000. Howard Hughes Medical Institute acquired a new stake in Deere & Company in the second quarter valued at approximately $27,000. Center for Financial Planning Inc. raised its stake in shares of Deere & Company by 406.7% during the second quarter. Center for Financial Planning Inc. now owns 76 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 61 shares during the period. Soundwatch Capital LLC acquired a new position in shares of Deere & Company during the second quarter worth $41,000. Finally, Lynch Asset Management Inc. acquired a new position in shares of Deere & Company during the third quarter worth $46,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. DA Davidson reaffirmed a “buy” rating and set a $580.00 price target on shares of Deere & Company in a research note on Monday, December 1st. Evercore ISI restated a “positive” rating on shares of Deere & Company in a research note on Friday, November 28th. Robert W. Baird cut their price target on Deere & Company from $488.00 to $467.00 and set a “neutral” rating on the stock in a research note on Monday, October 13th. BMO Capital Markets reissued a “market perform” rating and issued a $460.00 price target on shares of Deere & Company in a report on Tuesday, December 9th. Finally, JPMorgan Chase & Co. dropped their price objective on Deere & Company from $480.00 to $460.00 and set a “neutral” rating on the stock in a report on Friday, December 19th. Fifteen analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat, Deere & Company currently has an average rating of “Moderate Buy” and a consensus price target of $524.20.

Deere & Company Trading Down 1.4%

Deere & Company stock opened at $514.92 on Friday. The firm’s 50-day moving average is $482.61 and its 200-day moving average is $482.05. The company has a debt-to-equity ratio of 1.68, a quick ratio of 2.01 and a current ratio of 2.22. Deere & Company has a 1 year low of $404.42 and a 1 year high of $533.78. The company has a market cap of $139.58 billion, a P/E ratio of 27.82, a PEG ratio of 2.00 and a beta of 1.00.

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 business 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%. Deere & Company’s quarterly revenue was up 14.1% on a year-over-year basis. During the same period in the prior year, the company earned $4.55 EPS. On average, equities analysts expect 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 given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Wednesday, December 31st. Deere & Company’s dividend payout ratio is presently 35.01%.

Insider Activity at Deere & Company

In related 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 transaction of $20,797,793.28. Following the completion of the transaction, the chief executive officer directly owned 117,970 shares in the company, valued at $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 is available 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 completion of the sale, the insider directly owned 20,792 shares in the company, valued at $10,603,920. This represents a 36.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 64,578 shares of company stock worth $32,471,682. Company insiders own 0.29% of the company’s stock.

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.