Calamos Advisors LLC Has $19.82 Million Position in Deere & Company (NYSE:DE)

Calamos Advisors LLC trimmed its stake in shares of Deere & Company (NYSE:DE) by 3.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 53,047 shares of the industrial products company’s stock after selling 1,902 shares during the quarter. Calamos Advisors LLC’s holdings in Deere & Company were worth $19,820,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Tompkins Financial Corp increased its stake in shares of Deere & Company by 2.6% during the first quarter. Tompkins Financial Corp now owns 981 shares of the industrial products company’s stock worth $403,000 after purchasing an additional 25 shares during the period. Global Retirement Partners LLC increased its position in Deere & Company by 0.7% during the 1st quarter. Global Retirement Partners LLC now owns 3,768 shares of the industrial products company’s stock worth $1,548,000 after buying an additional 26 shares during the period. Blue Chip Partners LLC increased its position in Deere & Company by 2.3% during the 4th quarter. Blue Chip Partners LLC now owns 1,223 shares of the industrial products company’s stock worth $489,000 after buying an additional 27 shares during the period. Field & Main Bank lifted its holdings in shares of Deere & Company by 0.7% during the first quarter. Field & Main Bank now owns 4,050 shares of the industrial products company’s stock worth $1,663,000 after buying an additional 27 shares in the last quarter. Finally, Range Financial Group LLC boosted its position in shares of Deere & Company by 5.2% in the first quarter. Range Financial Group LLC now owns 548 shares of the industrial products company’s stock valued at $225,000 after acquiring an additional 27 shares during the period. 68.58% of the stock is owned by institutional investors.

Deere & Company Price Performance

DE stock opened at $381.18 on Monday. The stock has a market cap of $105.04 billion, a price-to-earnings ratio of 11.47, a P/E/G ratio of 1.59 and a beta of 0.93. The company has a debt-to-equity ratio of 1.81, a current ratio of 2.01 and a quick ratio of 1.80. The company has a 50 day simple moving average of $367.88 and a 200 day simple moving average of $379.89. Deere & Company has a 1 year low of $340.20 and a 1 year high of $423.35.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share for the quarter, topping analysts’ consensus estimates of $5.63 by $0.66. Deere & Company had a net margin of 16.15% and a return on equity of 42.26%. The firm had revenue of $11.39 billion for the quarter, compared to analysts’ expectations of $10.94 billion. During the same quarter in the previous year, the firm posted $10.20 earnings per share. The company’s revenue was down 20.3% on a year-over-year basis. Research analysts anticipate that Deere & Company will post 25.41 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 8th. Shareholders of record on Friday, June 28th were given a $1.47 dividend. The ex-dividend date of this dividend was Friday, June 28th. This represents a $5.88 annualized dividend and a yield of 1.54%. Deere & Company’s dividend payout ratio is presently 17.70%.

Analysts Set New Price Targets

A number of research firms recently commented on DE. BMO Capital Markets started coverage on shares of Deere & Company in a research report on Friday, August 9th. They set a “market perform” rating and a $400.00 price target on the stock. Stifel Nicolaus lifted their price target on shares of Deere & Company from $425.00 to $450.00 and gave the company a “buy” rating in a research report on Friday, May 17th. Evercore ISI boosted their price target on Deere & Company from $371.00 to $378.00 and gave the company an “in-line” rating in a research note on Monday, August 19th. Truist Financial restated a “buy” rating and set a $443.00 price objective (up previously from $439.00) on shares of Deere & Company in a research note on Friday, August 16th. Finally, JPMorgan Chase & Co. cut their target price on Deere & Company from $375.00 to $360.00 and set a “neutral” rating for the company in a research report on Tuesday, August 13th. Fourteen research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Deere & Company has an average rating of “Hold” and a consensus target price of $415.50.

Insider Activity

In other Deere & Company news, insider Cory J. Reed sold 13,370 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $377.63, for a total value of $5,048,913.10. Following the completion of the transaction, the insider now directly owns 41,642 shares in the company, valued at approximately $15,725,268.46. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.26% of the company’s stock.

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.