Cory J. Reed Sells 13,370 Shares of Deere & Company (NYSE:DE) Stock

Deere & Company (NYSE:DE) insider Cory J. Reed sold 13,370 shares of Deere & Company stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $377.63, for a total transaction of $5,048,913.10. Following the completion of the sale, the insider now directly owns 41,642 shares in the company, valued at approximately $15,725,268.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Deere & Company Price Performance

DE stock opened at $376.11 on Thursday. The stock has a market capitalization of $103.64 billion, a price-to-earnings ratio of 11.32, a price-to-earnings-growth ratio of 1.48 and a beta of 0.98. The company has a quick ratio of 1.80, a current ratio of 2.01 and a debt-to-equity ratio of 1.81. Deere & Company has a 52-week low of $353.15 and a 52-week high of $450.00. The stock’s fifty day simple moving average is $386.75 and its 200-day simple moving average is $387.08.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, May 16th. The industrial products company reported $8.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.86 by $0.67. The firm had revenue of $13.61 billion for the quarter, compared to analyst estimates of $13.29 billion. Deere & Company had a return on equity of 42.26% and a net margin of 16.15%. The firm’s quarterly revenue was down 15.4% on a year-over-year basis. During the same period last year, the company earned $9.65 EPS. Equities research analysts expect that Deere & Company will post 25.61 EPS for the current year.

Deere & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 8th. Investors of record on Friday, June 28th will be given a $1.47 dividend. The ex-dividend date is Friday, June 28th. This represents a $5.88 annualized dividend and a dividend yield of 1.56%. Deere & Company’s dividend payout ratio is presently 17.70%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on DE. JPMorgan Chase & Co. lowered their price objective on Deere & Company from $425.00 to $385.00 and set a “neutral” rating on the stock in a report on Friday, May 17th. DA Davidson decreased their price target on Deere & Company from $483.00 to $465.00 and set a “buy” rating on the stock in a research note on Monday, May 20th. Morgan Stanley increased their price objective on Deere & Company from $430.00 to $450.00 in a research report on Wednesday, May 15th. Daiwa Capital Markets boosted their target price on shares of Deere & Company from $400.00 to $420.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 15th. Finally, Stifel Nicolaus increased their price target on shares of Deere & Company from $425.00 to $450.00 and gave the company a “buy” rating in a report on Friday, May 17th. Eleven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Deere & Company presently has an average rating of “Hold” and a consensus price target of $431.14.

Hedge Funds Weigh In On Deere & Company

Several institutional investors and hedge funds have recently bought and sold shares of DE. Vanguard Group Inc. increased its holdings in shares of Deere & Company by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 21,988,363 shares of the industrial products company’s stock worth $9,031,500,000 after buying an additional 263,709 shares during the last quarter. Morgan Stanley raised its holdings in shares of Deere & Company by 1.3% in the 3rd quarter. Morgan Stanley now owns 5,089,159 shares of the industrial products company’s stock worth $1,920,548,000 after purchasing an additional 65,006 shares during the period. Janus Henderson Group PLC lifted its stake in shares of Deere & Company by 0.5% in the 1st quarter. Janus Henderson Group PLC now owns 3,859,021 shares of the industrial products company’s stock valued at $1,585,028,000 after purchasing an additional 19,200 shares in the last quarter. Parnassus Investments LLC grew its holdings in shares of Deere & Company by 22.4% during the 4th quarter. Parnassus Investments LLC now owns 3,856,171 shares of the industrial products company’s stock worth $1,541,967,000 after purchasing an additional 705,771 shares during the period. Finally, Norges Bank acquired a new stake in Deere & Company during the 4th quarter worth approximately $1,248,036,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company 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.