Bank of Montreal Can Purchases 37,056 Shares of Deere & Company $DE

Bank of Montreal Can raised its holdings in shares of Deere & Company (NYSE:DE) by 14.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 300,441 shares of the industrial products company’s stock after purchasing an additional 37,056 shares during the quarter. Bank of Montreal Can owned approximately 0.11% of Deere & Company worth $137,380,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Legal & General Group Plc increased its stake in shares of Deere & Company by 7.6% in the third quarter. Legal & General Group Plc now owns 1,651,982 shares of the industrial products company’s stock worth $755,385,000 after purchasing an additional 115,975 shares in the last quarter. Banque Cantonale Vaudoise raised its position in shares of Deere & Company by 22.6% in the third quarter. Banque Cantonale Vaudoise now owns 18,847 shares of the industrial products company’s stock valued at $8,619,000 after purchasing an additional 3,471 shares during the period. Russell Investments Group Ltd. lifted its stake in shares of Deere & Company by 6.2% during the 3rd quarter. Russell Investments Group Ltd. now owns 243,214 shares of the industrial products company’s stock valued at $111,345,000 after buying an additional 14,285 shares in the last quarter. Gerber Kawasaki Wealth & Investment Management boosted its holdings in Deere & Company by 7.0% in the 3rd quarter. Gerber Kawasaki Wealth & Investment Management now owns 2,448 shares of the industrial products company’s stock worth $1,119,000 after buying an additional 161 shares during the period. Finally, Private Advisor Group LLC boosted its holdings in Deere & Company by 8.5% in the 3rd quarter. Private Advisor Group LLC now owns 52,458 shares of the industrial products company’s stock worth $23,987,000 after buying an additional 4,092 shares during the period. Institutional investors own 68.58% of the company’s stock.

Insider Transactions at Deere & Company

In other news, CEO John C. May II sold 41,472 shares of Deere & Company 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 owned 117,970 shares in the company, 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 SEC, which can be accessed through this link. Also, insider Cory J. Reed sold 12,000 shares of the business’s stock in a transaction dated 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 transaction, the insider directly owned 20,792 shares of the company’s stock, valued at $10,603,920. The trade was a 36.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.29% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on DE. Bank of America boosted their target price on shares of Deere & Company from $502.00 to $672.00 and gave the company a “neutral” rating in a report on Friday, February 20th. DA Davidson raised their price target on Deere & Company from $580.00 to $775.00 and gave the stock a “buy” rating in a report on Friday, February 20th. Sanford C. Bernstein lifted their price target on Deere & Company from $521.00 to $615.00 and gave the company a “market perform” rating in a research report on Friday, February 20th. JPMorgan Chase & Co. decreased their price objective on Deere & Company from $480.00 to $460.00 and set a “neutral” rating on the stock in a research note on Friday, December 19th. Finally, Truist Financial increased their price objective on Deere & Company from $612.00 to $793.00 and gave the stock a “buy” rating in a report on Friday, February 20th. Sixteen equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $644.70.

Deere & Company Stock Performance

NYSE DE opened at $592.69 on Wednesday. Deere & Company has a 1 year low of $404.42 and a 1 year high of $674.19. The company has a debt-to-equity ratio of 1.59, a current ratio of 2.21 and a quick ratio of 1.96. The stock has a market capitalization of $160.09 billion, a PE ratio of 33.41, a P/E/G ratio of 2.11 and a beta of 0.96. The company’s 50 day simple moving average is $557.00 and its two-hundred day simple moving average is $501.12.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, February 19th. The industrial products company reported $2.42 EPS for the quarter, beating the consensus estimate of $1.90 by $0.52. Deere & Company had a net margin of 10.29% and a return on equity of 18.93%. The firm had revenue of $9.61 billion during the quarter, compared to the consensus estimate of $7.50 billion. During the same period last year, the firm earned $3.19 EPS. The business’s quarterly revenue was up 17.5% compared to the same quarter last year. Analysts predict 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 Friday, May 8th. Investors of record on Tuesday, March 31st will be given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 1.1%. The ex-dividend date is Tuesday, March 31st. Deere & Company’s payout ratio is presently 36.53%.

Deere & 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.