Davis R M Inc. Purchases 1,635 Shares of Deere & Company $DE

Davis R M Inc. raised its position in shares of Deere & Company (NYSE:DE) by 3.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 51,121 shares of the industrial products company’s stock after acquiring an additional 1,635 shares during the period. Davis R M Inc.’s holdings in Deere & Company were worth $23,376,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Howard Hughes Medical Institute acquired a new stake in Deere & Company in the 2nd quarter valued at approximately $27,000. Activest Wealth Management boosted its position in shares of Deere & Company by 69.2% in 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. grew its stake 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 worth $39,000 after acquiring an additional 61 shares during the last quarter. Soundwatch Capital LLC bought a new position in Deere & Company during the second quarter worth $41,000. Finally, United Community Bank raised its stake in 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 purchasing an additional 37 shares during the last quarter. 68.58% of the stock is currently owned by institutional investors.

Insider Transactions at Deere & Company

In related news, CEO John C. May II sold 41,472 shares of the stock in a transaction dated Thursday, January 8th. The shares were 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 $59,160,775.30. This trade represents a 26.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Cory J. Reed sold 12,000 shares of Deere & Company stock in a transaction dated 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 directly owned 20,792 shares of the company’s stock, valued at $10,603,920. This represents a 36.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Bank of America raised their price target on shares of Deere & Company from $502.00 to $672.00 and gave the stock a “neutral” rating in a research report on Friday, February 20th. Raymond James Financial reissued an “outperform” rating and set a $765.00 target price on shares of Deere & Company in a research report on Monday, February 23rd. Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of Deere & Company in a report on Monday, December 1st. 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 report on Friday, December 19th. Finally, Royal Bank Of Canada upped their target price on Deere & Company from $541.00 to $736.00 and gave the company an “outperform” rating in a research note on Friday, February 20th. Fifteen research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $637.70.

Deere & Company Trading Up 1.6%

Shares of DE opened at $629.32 on Monday. Deere & Company has a 1 year low of $404.42 and a 1 year high of $674.19. The company has a current ratio of 2.21, a quick ratio of 1.96 and a debt-to-equity ratio of 1.59. The stock has a 50 day simple moving average of $537.84 and a 200-day simple moving average of $495.39. The stock has a market cap of $169.99 billion, a PE ratio of 35.47, a PEG ratio of 2.22 and a beta of 0.96.

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 return on equity of 18.93% and a net margin of 10.29%.The business had revenue of $9.61 billion for the quarter, compared to analyst estimates of $7.50 billion. During the same quarter in the previous year, the firm earned $3.19 EPS. Deere & Company’s quarterly revenue was up 17.5% on a year-over-year basis. On average, sell-side analysts predict that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 8th. Stockholders of record on Tuesday, March 31st will be issued a $1.62 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $6.48 annualized dividend and a dividend yield of 1.0%. Deere & Company’s dividend payout ratio is presently 36.53%.

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.