Oppenheimer & Co. Inc. Sells 3,228 Shares of Deere & Company $DE

Oppenheimer & Co. Inc. reduced its stake in shares of Deere & Company (NYSE:DE) by 10.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,335 shares of the industrial products company’s stock after selling 3,228 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Deere & Company were worth $12,956,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the business. Werba Rubin Papier Wealth Management grew 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 worth $344,000 after acquiring an additional 20 shares during the last quarter. Prairie Wealth Advisors Inc. raised its stake in shares of Deere & Company by 2.1% in 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 last quarter. Rehmann Capital Advisory Group lifted its stake 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 valued at $1,264,000 after acquiring an additional 21 shares during the period. Blue Chip Partners LLC lifted its position in Deere & Company by 1.4% during the second 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 period. Finally, TRUE Private Wealth Advisors lifted its holdings in shares of Deere & Company by 3.0% in the 2nd quarter. TRUE Private Wealth Advisors now owns 744 shares of the industrial products company’s stock valued at $378,000 after buying an additional 22 shares during the period. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Price Performance

DE opened at $586.12 on Tuesday. The stock’s 50-day moving average price is $497.60 and its 200 day moving average price is $484.60. The company has a current ratio of 2.22, a quick ratio of 2.01 and a debt-to-equity ratio of 1.68. Deere & Company has a 12-month low of $404.42 and a 12-month high of $587.74. The firm has a market cap of $158.88 billion, a price-to-earnings ratio of 31.67, a PEG ratio of 2.33 and a beta of 1.02.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Wednesday, November 26th. The industrial products company reported $3.93 earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $9.77 billion. During the same quarter last year, the firm posted $4.55 EPS. The company’s revenue for the quarter was up 14.1% on a year-over-year basis. As a group, 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 announced a quarterly dividend, which was paid on Monday, February 9th. Investors of record on Wednesday, December 31st were paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Wednesday, December 31st. Deere & Company’s dividend payout ratio is presently 35.01%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on DE. Wolfe Research raised their price target on shares of Deere & Company from $520.00 to $550.00 and gave the company an “outperform” rating in a research report on Friday, January 2nd. Royal Bank Of Canada decreased their price target on shares of Deere & Company from $542.00 to $541.00 and set an “outperform” rating on the stock in a research note on Friday, November 28th. BMO Capital Markets reiterated a “market perform” rating and set a $460.00 price target on shares of Deere & Company in a research report on Tuesday, December 9th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Deere & Company in a research note on Monday, December 29th. Finally, Jefferies Financial Group upped their target price on Deere & Company from $440.00 to $475.00 and gave the company a “hold” rating in a report on Tuesday, December 9th. Fifteen investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $524.20.

Insiders Place Their Bets

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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Cory J. Reed sold 12,000 shares of the business’s stock in a transaction that occurred 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 sale, the insider 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 SEC filing for this sale provides additional information. Insiders sold a total of 64,578 shares of company stock worth $32,471,682 over the last 90 days. Company insiders own 0.29% of the company’s stock.

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.