Exchange Traded Concepts LLC bought a new stake in Deere & Company (NYSE:DE) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 10,843 shares of the industrial products company’s stock, valued at approximately $1,879,000.
Several other hedge funds also recently made changes to their positions in the business. Man Group plc raised its holdings in Deere & Company by 250.1% during the third quarter. Man Group plc now owns 26,987 shares of the industrial products company’s stock worth $4,552,000 after purchasing an additional 19,278 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Deere & Company by 0.4% during the second quarter. Price T Rowe Associates Inc. MD now owns 649,925 shares of the industrial products company’s stock worth $107,699,000 after purchasing an additional 2,598 shares during the last quarter. Charles Schwab Trust Co acquired a new position in Deere & Company during the third quarter worth $1,303,000. Point72 Asset Management L.P. acquired a new position in Deere & Company during the third quarter worth $20,723,000. Finally, Brightworth raised its holdings in Deere & Company by 2.7% during the third quarter. Brightworth now owns 35,761 shares of the industrial products company’s stock worth $6,032,000 after purchasing an additional 933 shares during the last quarter. Institutional investors own 67.18% of the company’s stock.
Several equities analysts recently issued reports on DE shares. BMO Capital Markets lifted their price objective on Deere & Company from $175.00 to $180.00 and gave the stock an “outperform” rating in a report on Monday, December 2nd. DZ Bank cut Deere & Company from a “hold” rating to a “sell” rating and set a $148.00 price objective for the company. in a report on Friday, November 29th. Deutsche Bank reaffirmed a “hold” rating and set a $169.00 price objective (up from $155.00) on shares of Deere & Company in a report on Wednesday, November 20th. Citigroup reduced their price objective on Deere & Company from $200.00 to $195.00 and set a “buy” rating for the company in a report on Monday, December 2nd. Finally, Robert W. Baird set a $178.00 price objective on Deere & Company and gave the stock a “buy” rating in a report on Wednesday, October 9th. Four analysts have rated the stock with a sell rating, seven have given a hold rating and ten have given a buy rating to the company. Deere & Company has a consensus rating of “Hold” and a consensus target price of $172.79.
Deere & Company (NYSE:DE) last released its quarterly earnings results on Wednesday, November 27th. The industrial products company reported $2.14 earnings per share for the quarter, topping the consensus estimate of $2.13 by $0.01. The company had revenue of $8.70 billion during the quarter, compared to the consensus estimate of $8.41 billion. Deere & Company had a return on equity of 27.11% and a net margin of 8.29%. Deere & Company’s revenue was up 4.3% compared to the same quarter last year. During the same quarter last year, the business posted $2.30 earnings per share. On average, analysts forecast that Deere & Company will post 9.44 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 1.76%. The ex-dividend date of this dividend is Monday, December 30th. Deere & Company’s payout ratio is 30.58%.
In other Deere & Company news, CEO John C. May II sold 5,075 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $173.38, for a total transaction of $879,903.50. Following the completion of the transaction, the chief executive officer now owns 49,157 shares of the company’s stock, valued at $8,522,840.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO John C. May II sold 8,112 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $174.11, for a total value of $1,412,380.32. Following the transaction, the chief executive officer now directly owns 49,157 shares of the company’s stock, valued at approximately $8,558,725.27. The disclosure for this sale can be found here. Insiders have sold 152,228 shares of company stock valued at $26,934,906 in the last three months. 0.70% of the stock is currently owned by company insiders.
Deere & Company Profile
Deere & Company manufactures and distributes various equipment worldwide. The company operates through three segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment offers agriculture and turf equipment, and related parts, including large, medium, and utility tractors; tractor loaders; combines, cotton pickers, cotton strippers, and sugarcane harvesters; harvesting front-end equipment; sugarcane loaders and pull-behind scrapers; and tillage, seeding, and application equipment.
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