Deere & Company $DE Stake Cut by Wilkinson Global Asset Management LLC

Wilkinson Global Asset Management LLC reduced its position in shares of Deere & Company (NYSE:DE) by 2.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 120,708 shares of the industrial products company’s stock after selling 3,406 shares during the period. Deere & Company makes up about 3.5% of Wilkinson Global Asset Management LLC’s investment portfolio, making the stock its 12th largest position. Wilkinson Global Asset Management LLC’s holdings in Deere & Company were worth $55,195,000 at the end of the most recent quarter.

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

Insider Transactions at Deere & Company

In other Deere & Company news, insider Cory J. Reed sold 12,000 shares of Deere & Company stock in a transaction dated 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 owned 20,792 shares of the company’s stock, valued at $10,603,920. The trade was a 36.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO John C. May II sold 41,472 shares of the company’s stock in a transaction that occurred 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 owned 117,970 shares in the company, valued at approximately $59,160,775.30. This represents a 26.01% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 64,578 shares of company stock valued at $32,471,682 over the last 90 days. Corporate insiders own 0.29% of the company’s stock.

Deere & Company Trading Down 0.7%

Shares of NYSE:DE opened at $526.11 on Monday. The company has a 50 day moving average of $487.18 and a 200-day moving average of $482.14. The company has a current ratio of 2.22, a quick ratio of 2.01 and a debt-to-equity ratio of 1.68. The firm has a market cap of $142.61 billion, a P/E ratio of 28.42, a P/E/G ratio of 2.11 and a beta of 1.02. Deere & Company has a twelve month low of $404.42 and a twelve month high of $537.26.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Wednesday, November 26th. The industrial products company reported $3.93 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.96 by ($0.03). The business had revenue of $12.39 billion during 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 business’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same period in the prior year, the firm earned $4.55 EPS. As a group, analysts anticipate that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The firm 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 $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Wednesday, December 31st. Deere & Company’s dividend payout ratio (DPR) is 35.01%.

Wall Street Analyst Weigh In

DE has been the subject of a number of research analyst reports. Evercore ISI restated a “positive” rating on shares of Deere & Company in a report on Friday, November 28th. Truist Financial increased their price objective on shares of Deere & Company from $609.00 to $612.00 and gave the company a “buy” rating in a research report on Friday, November 28th. Daiwa Capital Markets dropped their target price on Deere & Company from $530.00 to $520.00 and set an “outperform” rating on the stock in a research report on Tuesday, December 2nd. Citigroup dropped their price target on shares of Deere & Company from $525.00 to $515.00 and set a “neutral” rating for the company in a research note on Tuesday, October 7th. Finally, DA Davidson reissued a “buy” rating and issued a $580.00 price objective on shares of Deere & Company in a report on Monday, December 1st. Fifteen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $524.20.

Key Deere & Company News

Here are the key news stories impacting Deere & Company this week:

• Positive Sentiment: Traders rotating out of big tech and into cyclical, economy‑sensitive stocks helped push Deere to an intraday record as investors price in lower rates and stronger growth expectations. Deere shares jump to record as traders rotate out of tech
• Positive Sentiment: Deere is expanding U.S. manufacturing footprint with two new industrial facilities (Indiana and North Carolina), signaling management expects sustained demand and supporting future capacity and service operations. John Deere to Open Two New Industrial Facilities in Indiana, North Carolina
• Positive Sentiment: Deere plans to recall about 99 workers at its Davenport and Dubuque plants in February, a near‑term sign of ramping production and improving order activity at U.S. facilities. John Deere to recall 99 workers at Davenport, Dubuque plants in February

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.