Alps Advisors Inc. Trims Stock Holdings in Deere & Company $DE

Alps Advisors Inc. lessened its stake in shares of Deere & Company (NYSE:DEFree Report) by 80.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 984 shares of the industrial products company’s stock after selling 4,175 shares during the quarter. Alps Advisors Inc.’s holdings in Deere & Company were worth $450,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of DE. Mid American Wealth Advisory Group Inc. acquired a new stake in Deere & Company during the second quarter worth approximately $25,000. Howard Hughes Medical Institute purchased a new position in shares of Deere & Company during the 2nd quarter worth $27,000. Activest Wealth Management boosted its holdings in shares of Deere & Company by 69.2% during the third quarter. Activest Wealth Management now owns 66 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 27 shares during the last quarter. Center for Financial Planning Inc. grew its position in shares of Deere & Company by 406.7% in 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. Finally, Soundwatch Capital LLC acquired a new position in Deere & Company in the second quarter valued at $41,000. 68.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on DE shares. Truist Financial upped their price objective on shares of Deere & Company from $609.00 to $612.00 and gave the company a “buy” rating in a research note on Friday, November 28th. Morgan Stanley reaffirmed an “overweight” rating and set a $560.00 price target on shares of Deere & Company in a research note on Tuesday, December 9th. Wolfe Research upped their price objective on Deere & Company from $520.00 to $550.00 and gave the stock an “outperform” rating in a report on Friday, January 2nd. Wells Fargo & Company initiated coverage on Deere & Company in a research report on Thursday, November 13th. They set an “overweight” rating and a $543.00 price target for the company. Finally, Evercore reaffirmed a “positive” rating on shares of Deere & Company in a research note on Friday, November 28th. Fifteen analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $524.20.

View Our Latest Analysis on Deere & Company

Key Deere & Company News

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

Insiders Place Their Bets

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 shares were sold at an average price of $501.49, for a total value of $20,797,793.28. Following the sale, the chief executive officer directly owned 117,970 shares of the company’s stock, valued at $59,160,775.30. This represents a 26.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Cory J. Reed sold 12,000 shares of the stock in a transaction on Wednesday, January 14th. The shares were 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 in the company, valued at $10,603,920. This trade represents a 36.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 64,578 shares of company stock valued at $32,471,682. Insiders own 0.29% of the company’s stock.

Deere & Company Price Performance

DE opened at $602.54 on Friday. Deere & Company has a twelve month low of $404.42 and a twelve month high of $626.25. The firm has a market cap of $163.33 billion, a price-to-earnings ratio of 32.55, a PEG ratio of 2.40 and a beta of 1.02. 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 company has a fifty day simple moving average of $507.56 and a 200 day simple moving average of $487.27.

Deere & Company (NYSE:DEGet Free Report) last issued its quarterly earnings data on Wednesday, November 26th. The industrial products company reported $3.93 EPS for the quarter, missing analysts’ consensus estimates of $3.96 by ($0.03). The firm 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 quarterly revenue was up 14.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.55 EPS. Equities research analysts expect that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Announces Dividend

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

Deere & Company Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Deere & Company (NYSE:DE)

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