Deere & Company (NYSE:DE) Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC lowered its position in shares of Deere & Company (NYSE:DE) by 2.7% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 21,952 shares of the industrial products company’s stock after selling 616 shares during the quarter. Intech Investment Management LLC’s holdings in Deere & Company were worth $8,202,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. True Wealth Design LLC lifted its position in Deere & Company by 1,180.0% during the 4th quarter. True Wealth Design LLC now owns 64 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 59 shares during the period. Pineridge Advisors LLC lifted its position in Deere & Company by 725.0% during the 1st quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 58 shares during the period. Livelsberger Financial Advisory acquired a new stake in Deere & Company during the 4th quarter worth about $30,000. Spartan Planning & Wealth Management acquired a new stake in Deere & Company during the 4th quarter worth about $33,000. Finally, Core Wealth Advisors Inc. lifted its position in Deere & Company by 466.7% during the 4th quarter. Core Wealth Advisors Inc. now owns 85 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 70 shares during the period. Institutional investors and hedge funds own 68.58% of the company’s stock.

Insider Transactions at Deere & Company

In other news, insider Cory J. Reed sold 13,370 shares of the company’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $377.63, for a total transaction of $5,048,913.10. Following the sale, the insider now owns 41,642 shares of the company’s stock, valued at $15,725,268.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.26% of the company’s stock.

Deere & Company Price Performance

NYSE:DE opened at $405.89 on Friday. Deere & Company has a 12 month low of $340.20 and a 12 month high of $417.46. The stock has a 50 day moving average of $376.24 and a two-hundred day moving average of $382.66. The company has a current ratio of 2.07, a quick ratio of 1.87 and a debt-to-equity ratio of 1.85. The firm has a market cap of $111.85 billion, a P/E ratio of 12.22, a price-to-earnings-growth ratio of 1.29 and a beta of 0.92.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.63 by $0.66. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The business had revenue of $11.39 billion during the quarter, compared to analyst estimates of $10.94 billion. During the same period in the prior year, the business earned $10.20 earnings per share. The business’s revenue was down 20.3% compared to the same quarter last year. On average, analysts expect that Deere & Company will post 25.07 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Monday, September 30th will be paid a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date of this dividend is Monday, September 30th. Deere & Company’s dividend payout ratio (DPR) is 17.70%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Evercore ISI boosted their price objective on Deere & Company from $371.00 to $378.00 and gave the company an “in-line” rating in a report on Monday, August 19th. Oppenheimer decreased their price objective on Deere & Company from $465.00 to $448.00 and set an “outperform” rating for the company in a report on Monday, July 22nd. JPMorgan Chase & Co. decreased their price objective on Deere & Company from $375.00 to $360.00 and set a “neutral” rating for the company in a report on Tuesday, August 13th. Raymond James assumed coverage on Deere & Company in a report on Friday, June 28th. They issued an “outperform” rating and a $420.00 price objective for the company. Finally, Citigroup decreased their price objective on Deere & Company from $395.00 to $370.00 and set a “neutral” rating for the company in a report on Tuesday, August 13th. Fourteen equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $409.88.

Deere & Company Profile

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.