Envestnet Portfolio Solutions Inc. Has $1.67 Million Position in Deere & Company $DE

Envestnet Portfolio Solutions Inc. reduced its position in Deere & Company (NYSE:DE) by 21.0% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 3,652 shares of the industrial products company’s stock after selling 972 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Deere & Company were worth $1,670,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the business. The Manufacturers Life Insurance Company increased its position in shares of Deere & Company by 30.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 364,103 shares of the industrial products company’s stock valued at $185,143,000 after buying an additional 85,351 shares in the last quarter. OLD National Bancorp IN raised its position in Deere & Company by 2.6% in the 2nd quarter. OLD National Bancorp IN now owns 24,000 shares of the industrial products company’s stock valued at $12,204,000 after buying an additional 610 shares during the last quarter. Csenge Advisory Group raised its holdings in shares of Deere & Company by 84.9% in the third quarter. Csenge Advisory Group now owns 7,440 shares of the industrial products company’s stock valued at $3,402,000 after purchasing an additional 3,416 shares during the last quarter. Mesirow Financial Investment Management Inc. lifted its position in Deere & Company by 1.0% during the 2nd quarter. Mesirow Financial Investment Management Inc. now owns 4,678 shares of the industrial products company’s stock worth $2,379,000 after buying an additional 45 shares in the last quarter. Finally, MASTERINVEST Kapitalanlage GmbH bought a new stake in Deere & Company during the second quarter worth about $3,615,000. 68.58% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CEO John C. May II sold 41,472 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer owned 117,970 shares of the company’s stock, valued at approximately $59,160,775.30. This trade represents a 26.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Cory J. Reed sold 12,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 14th. The shares were sold at an average price of $510.00, for a total value of $6,120,000.00. Following the completion of the transaction, the insider owned 20,792 shares in the company, valued at $10,603,920. This represents a 36.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 64,578 shares of company stock worth $32,471,682 over the last ninety days. 0.29% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on DE shares. 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. Sanford C. Bernstein reiterated a “market perform” rating on shares of Deere & Company in a research note on Tuesday, December 9th. Wells Fargo & Company began coverage on Deere & Company in a research report on Thursday, November 13th. They set an “overweight” rating and a $543.00 target price for the company. Daiwa Capital Markets cut their price target on shares of Deere & Company from $530.00 to $520.00 and set an “outperform” rating for the company in a report on Tuesday, December 2nd. Finally, Wall Street Zen lowered Deere & Company from a “hold” rating to a “sell” rating in a research note on Friday, November 28th. Fifteen analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $524.20.

Deere & Company Stock Performance

Shares of Deere & Company stock opened at $516.51 on Tuesday. The company has a market cap of $140.01 billion, a P/E ratio of 27.90, a PEG ratio of 1.97 and a beta of 1.00. The business has a 50-day moving average price of $483.42 and a two-hundred day moving average price of $481.65. 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 1-year low of $404.42 and a 1-year high of $533.78.

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

Deere & Company Dividend Announcement

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

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.