BNP Paribas Lowers Position in Deere & Company $DE

BNP Paribas trimmed its position in shares of Deere & Company (NYSE:DE) by 53.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,458 shares of the industrial products company’s stock after selling 2,807 shares during the quarter. BNP Paribas’ holdings in Deere & Company were worth $1,124,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Howard Hughes Medical Institute acquired a new stake in Deere & Company in the second quarter valued at about $27,000. Activest Wealth Management increased its position in Deere & Company by 69.2% during the 3rd quarter. Activest Wealth Management now owns 66 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 27 shares during the period. Wealth Watch Advisors INC acquired a new position in Deere & Company during the 3rd quarter worth approximately $32,000. United Community Bank raised its stake 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 worth $42,000 after buying an additional 37 shares in the last quarter. Finally, Lynch Asset Management Inc. purchased a new position in shares of Deere & Company during the 3rd quarter worth approximately $46,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

DE has been the topic of a number of analyst reports. Daiwa Securities Group decreased their price target on Deere & Company from $530.00 to $520.00 and set an “outperform” rating on the stock in a research note on Tuesday, December 2nd. Zacks Research upgraded Deere & Company from a “strong sell” rating to a “hold” rating in a research report on Wednesday, December 3rd. Weiss Ratings reissued a “hold (c+)” rating on shares of Deere & Company in a report on Monday, December 29th. Bank of America boosted their target price 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. Finally, Robert W. Baird upped their price target on shares of Deere & Company from $467.00 to $675.00 and gave the stock a “neutral” rating in a research note 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 given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $644.70.

Insider Buying and Selling at Deere & Company

In other news, 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 transaction of $6,120,000.00. Following the completion of the transaction, the insider owned 20,792 shares of the company’s stock, valued at $10,603,920. The trade was a 36.59% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO John C. May II sold 41,472 shares of the business’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 completion of the sale, the chief executive officer owned 117,970 shares in the company, valued at $59,160,775.30. This represents a 26.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.29% of the company’s stock.

Deere & Company Stock Performance

DE opened at $577.42 on Monday. Deere & Company has a 1-year low of $404.42 and a 1-year high of $674.19. The stock has a market cap of $155.97 billion, a P/E ratio of 32.55, a P/E/G ratio of 2.02 and a beta of 0.96. The stock’s 50 day simple moving average is $564.21 and its 200 day simple moving average is $503.15. The company has a debt-to-equity ratio of 1.59, a current ratio of 2.21 and a quick ratio of 1.96.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, February 19th. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.52. The firm had revenue of $9.61 billion during the quarter, compared to analysts’ expectations of $7.50 billion. Deere & Company had a return on equity of 18.93% and a net margin of 10.29%.Deere & Company’s revenue was up 17.5% on a year-over-year basis. During the same period in the previous year, the firm posted $3.19 earnings per share. As a group, equities analysts anticipate that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 8th. Stockholders of record on Tuesday, March 31st will be given a $1.62 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.1%. Deere & Company’s dividend payout ratio (DPR) is currently 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.