Fifth Third Bancorp Has $105.22 Million Stock Position in Deere & Company $DE

Fifth Third Bancorp lowered its stake in shares of Deere & Company (NYSE:DEFree Report) by 1.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 230,118 shares of the industrial products company’s stock after selling 4,527 shares during the quarter. Fifth Third Bancorp owned about 0.09% of Deere & Company worth $105,224,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Mid American Wealth Advisory Group Inc. acquired a new position in shares of Deere & Company during the second quarter valued at about $25,000. Howard Hughes Medical Institute bought a new position in Deere & Company during the second quarter valued at about $27,000. Activest Wealth Management increased its stake in Deere & Company by 69.2% during the third quarter. Activest Wealth Management now owns 66 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 27 shares during the period. Center for Financial Planning Inc. raised its holdings in Deere & Company by 406.7% in the 2nd quarter. Center for Financial Planning Inc. now owns 76 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 61 shares in the last quarter. Finally, Soundwatch Capital LLC bought a new stake in shares of Deere & Company in the 2nd quarter worth approximately $41,000. 68.58% of the stock is owned by institutional investors.

Deere & Company News Roundup

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

Insider Buying and Selling at Deere & Company

In other news, insider Cory J. Reed sold 12,000 shares of the firm’s 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 in the company, valued at approximately $10,603,920. This trade represents a 36.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO John C. May II sold 41,472 shares of the company’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 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 position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 64,578 shares of company stock valued at $32,471,682. Corporate insiders own 0.29% of the company’s stock.

Deere & Company Trading Up 0.7%

Shares of Deere & Company stock opened at $602.54 on Monday. The stock has a market capitalization of $163.33 billion, a P/E ratio of 32.55, a price-to-earnings-growth ratio of 2.40 and a beta of 1.02. The company has a quick ratio of 2.01, a current ratio of 2.22 and a debt-to-equity ratio of 1.68. The company has a 50-day simple moving average of $507.56 and a 200 day simple moving average of $487.12. Deere & Company has a 12-month low of $404.42 and a 12-month high of $626.25.

Deere & Company (NYSE:DEGet Free Report) last released its quarterly earnings results 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 net margin of 11.00% and a return on equity of 20.54%. Deere & Company’s quarterly revenue was up 14.1% on a year-over-year basis. During the same quarter last year, the firm earned $4.55 earnings per share. Research analysts expect that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

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

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Royal Bank Of Canada lowered their price objective on Deere & Company from $542.00 to $541.00 and set an “outperform” rating on the stock in a research report on Friday, November 28th. UBS Group reissued a “buy” rating on shares of Deere & Company in a report on Tuesday, November 25th. Wolfe Research increased their price objective on shares of Deere & Company from $520.00 to $550.00 and gave the company an “outperform” rating in a research note on Friday, January 2nd. Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of Deere & Company in a research report on Monday, December 1st. Finally, Daiwa Securities Group dropped 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 report on Tuesday, December 2nd. Fifteen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $524.20.

View Our Latest Stock Analysis on DE

Deere & 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.

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

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