Machina Capital S.A.S. Makes New $1.49 Million Investment in Deere & Company $DE

Machina Capital S.A.S. purchased a new stake in shares of Deere & Company (NYSE:DE) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 3,250 shares of the industrial products company’s stock, valued at approximately $1,486,000.

A number of other hedge funds also recently modified their holdings of DE. Vivid Wealth Management LLC raised its stake 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 during the last quarter. Werba Rubin Papier Wealth Management grew its stake in 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 worth $344,000 after purchasing an additional 20 shares during the period. Prairie Wealth Advisors Inc. grew its stake in Deere & Company by 2.1% during the second 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 during the period. Rehmann Capital Advisory Group increased its holdings in Deere & Company by 0.9% in the second 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 lifted its stake in Deere & Company by 1.4% in the second quarter. Blue Chip Partners LLC now owns 1,574 shares of the industrial products company’s stock valued at $801,000 after buying an additional 21 shares during the period. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Trading Up 4.3%

NYSE:DE opened at $568.20 on Thursday. The company has a debt-to-equity ratio of 1.68, a current ratio of 2.22 and a quick ratio of 2.01. The firm has a 50-day moving average of $490.96 and a 200-day moving average of $483.28. The company has a market cap of $154.02 billion, a PE ratio of 30.70, a PEG ratio of 2.17 and a beta of 1.02. Deere & Company has a one year low of $404.42 and a one year high of $571.56.

Deere & Company (NYSE:DE) last announced its quarterly 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). The business had revenue of $12.39 billion during 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 revenue was up 14.1% compared to the same quarter last year. During the same period in the previous year, the business posted $4.55 EPS. As a group, equities research analysts expect that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 9th. Investors of record on Wednesday, December 31st will be given a dividend of $1.62 per share. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $6.48 annualized dividend and a dividend yield of 1.1%. Deere & Company’s payout ratio is presently 35.01%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on DE. Wall Street Zen downgraded shares of Deere & Company from a “hold” rating to a “sell” rating in a research report on Friday, November 28th. UBS Group restated a “buy” rating on shares of Deere & Company in a report on Tuesday, November 25th. Daiwa Capital Markets decreased their price target on shares of Deere & Company from $530.00 to $520.00 and set an “outperform” rating for the company in a research note on Tuesday, December 2nd. Zacks Research upgraded shares of Deere & Company from a “strong sell” rating to a “hold” rating in a report on Wednesday, December 3rd. Finally, Royal Bank Of Canada reduced their target price on Deere & Company from $542.00 to $541.00 and set an “outperform” rating for the company in a research note on Friday, November 28th. Fifteen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Deere & Company presently has an average rating of “Moderate Buy” and an average target price of $524.20.

Insider Buying and Selling at Deere & Company

In related news, 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 of the company’s stock, valued at approximately $10,603,920. This represents a 36.59% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO John C. May II sold 41,472 shares of the firm’s stock in a transaction on 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 in the company, valued at approximately $59,160,775.30. This trade represents a 26.01% 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 in the last quarter. 0.29% of the stock is currently owned by corporate insiders.

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.