Deere & Company $DE Shares Sold by Triglav Investments D.O.O.

Triglav Investments D.O.O. cut its holdings in Deere & Company (NYSE:DE) by 83.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,239 shares of the industrial products company’s stock after selling 16,570 shares during the quarter. Triglav Investments D.O.O.’s holdings in Deere & Company were worth $1,480,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Vivid Wealth Management LLC increased its position in Deere & Company by 1.9% during the second quarter. Vivid Wealth Management LLC now owns 1,088 shares of the industrial products company’s stock worth $553,000 after buying an additional 20 shares in the last quarter. Werba Rubin Papier Wealth Management boosted its stake in shares of Deere & Company by 3.0% during the second quarter. Werba Rubin Papier Wealth Management now owns 676 shares of the industrial products company’s stock valued at $344,000 after acquiring an additional 20 shares during the last quarter. Prairie Wealth Advisors Inc. increased its position in Deere & Company by 2.1% during the 2nd quarter. Prairie Wealth Advisors Inc. now owns 964 shares of the industrial products company’s stock worth $492,000 after purchasing an additional 20 shares in the last quarter. Rehmann Capital Advisory Group increased its position in Deere & Company by 0.9% during the 2nd quarter. Rehmann Capital Advisory Group now owns 2,486 shares of the industrial products company’s stock worth $1,264,000 after purchasing an additional 21 shares in the last quarter. Finally, Blue Chip Partners LLC raised its stake in Deere & Company by 1.4% in the 2nd quarter. Blue Chip Partners LLC now owns 1,574 shares of the industrial products company’s stock valued at $801,000 after purchasing an additional 21 shares during the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Stock Up 4.3%

DE opened at $568.20 on Thursday. Deere & Company has a 1 year low of $404.42 and a 1 year high of $571.56. The firm has a 50 day moving average price of $490.96 and a 200 day moving average price of $483.28. The company has a market cap of $154.02 billion, a PE ratio of 30.70, a price-to-earnings-growth ratio of 2.17 and a beta of 1.02. 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 (NYSE:DE) last posted its earnings results on Wednesday, November 26th. The industrial products company reported $3.93 earnings per share for the quarter, missing the consensus estimate of $3.96 by ($0.03). Deere & Company had a net margin of 11.00% and a return on equity of 20.54%. The business had revenue of $12.39 billion for the quarter, compared to analyst estimates of $9.77 billion. During the same quarter in the previous year, the firm posted $4.55 EPS. The business’s revenue was up 14.1% compared to the same quarter last year. Sell-side analysts expect that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

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 given a $1.62 dividend. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $6.48 annualized dividend and a yield of 1.1%. Deere & Company’s dividend payout ratio (DPR) is 35.01%.

Insider Activity

In other news, CEO John C. May II sold 41,472 shares of the firm’s stock in a transaction dated 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 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Cory J. Reed sold 12,000 shares of the company’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 directly owned 20,792 shares in the company, valued at approximately $10,603,920. The trade was a 36.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 64,578 shares of company stock valued at $32,471,682 over the last 90 days. Insiders own 0.29% of the company’s stock.

Analysts Set New Price Targets

DE has been the topic of several analyst reports. 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. Zacks Research raised shares of Deere & Company from a “strong sell” rating to a “hold” rating in a research note on Wednesday, December 3rd. Wells Fargo & Company started coverage on shares of Deere & Company in a research note on Thursday, November 13th. They issued an “overweight” rating and a $543.00 target price for the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of Deere & Company in a report on Monday, December 29th. Finally, Daiwa Capital Markets reduced their price target on Deere & Company from $530.00 to $520.00 and set an “outperform” rating on the stock in a research note on Tuesday, December 2nd. Fifteen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $524.20.

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.