Alliancebernstein L.P. Buys 26,508 Shares of Deere & Company $DE

Alliancebernstein L.P. lifted its stake in shares of Deere & Company (NYSE:DE) by 3.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 810,115 shares of the industrial products company’s stock after buying an additional 26,508 shares during the quarter. Alliancebernstein L.P. owned about 0.30% of Deere & Company worth $370,433,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of DE. Howard Hughes Medical Institute bought a new stake in shares of Deere & Company during the second quarter valued at approximately $27,000. Activest Wealth Management raised its holdings in Deere & Company by 69.2% in 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 in the last quarter. Wealth Watch Advisors INC purchased a new position in Deere & Company during the third quarter valued at $32,000. Soundwatch Capital LLC purchased a new position in Deere & Company during the second quarter valued at $41,000. Finally, United Community Bank boosted its holdings in shares of Deere & Company by 67.3% during the 3rd quarter. United Community Bank now owns 92 shares of the industrial products company’s stock valued at $42,000 after buying an additional 37 shares in the last quarter. 68.58% of the stock is owned by institutional investors.

Insider Buying and Selling at Deere & Company

In other Deere & Company news, CEO John C. May II sold 41,472 shares of Deere & Company stock in a transaction on Thursday, January 8th. The stock was sold at an average price of $501.49, for a total value of $20,797,793.28. Following the completion of the sale, the chief executive officer owned 117,970 shares of the company’s stock, valued at approximately $59,160,775.30. This trade represents a 26.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Cory J. Reed sold 12,000 shares of Deere & Company 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. The trade was a 36.59% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.29% of the company’s stock.

Deere & Company Stock Down 1.4%

Shares of Deere & Company stock opened at $577.42 on Monday. The company has a 50-day simple moving average of $564.21 and a two-hundred day simple moving average of $503.15. The stock has a market capitalization of $155.97 billion, a PE ratio of 32.55, a price-to-earnings-growth ratio of 2.02 and a beta of 0.96. Deere & Company has a 52-week low of $404.42 and a 52-week high of $674.19. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.96 and a current ratio of 2.21.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, February 19th. The industrial products company reported $2.42 EPS for the quarter, beating analysts’ consensus estimates of $1.90 by $0.52. The firm had revenue of $9.61 billion for the quarter, compared to analysts’ expectations of $7.50 billion. Deere & Company had a net margin of 10.29% and a return on equity of 18.93%. The business’s revenue for the quarter was up 17.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.19 earnings per share. On average, analysts anticipate that Deere & Company will post 19.32 EPS 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. Shareholders of record on Tuesday, March 31st will be paid 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 dividend payout ratio (DPR) is currently 36.53%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on DE. Royal Bank Of Canada upped their target price on shares of Deere & Company from $541.00 to $736.00 and gave the stock an “outperform” rating in a research report on Friday, February 20th. Robert W. Baird lifted their price target on shares of Deere & Company from $467.00 to $675.00 and gave the company a “neutral” rating in a research report on Friday, February 20th. Sanford C. Bernstein upped their price objective on shares of Deere & Company from $521.00 to $615.00 and gave the stock a “market perform” rating in a report on Friday, February 20th. Morgan Stanley raised their target price on shares of Deere & Company from $560.00 to $730.00 and gave the company an “overweight” rating in a research note on Monday, February 23rd. Finally, DA Davidson lifted their target price on shares of Deere & Company from $580.00 to $775.00 and gave the company a “buy” rating in a report on Friday, February 20th. Sixteen equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $644.70.

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.