Deere & Company (DE) Insider Cory J. Reed Sells 4,936 Shares
Deere & Company (NYSE:DE) insider Cory J. Reed sold 4,936 shares of the firm’s stock in a transaction dated Friday, June 16th. The shares were sold at an average price of $128.00, for a total transaction of $631,808.00. Following the transaction, the insider now directly owns 9,903 shares in the company, valued at approximately $1,267,584. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.
Deere & Company (NYSE:DE) traded down 0.59% during mid-day trading on Monday, hitting $127.14. 780,327 shares of the company traded hands. The company’s 50-day moving average price is $119.40 and its 200 day moving average price is $110.34. The company has a market capitalization of $40.67 billion, a price-to-earnings ratio of 22.89 and a beta of 0.71. Deere & Company has a one year low of $76.73 and a one year high of $128.37.
Deere & Company (NYSE:DE) last released its quarterly earnings results on Friday, May 19th. The industrial products company reported $2.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.70 by $0.79. Deere & Company had a return on equity of 24.85% and a net margin of 6.52%. The firm had revenue of $7.26 billion during the quarter, compared to the consensus estimate of $7.27 billion. During the same quarter in the prior year, the firm posted $1.56 EPS. The business’s revenue was up 2.2% on a year-over-year basis. On average, analysts anticipate that Deere & Company will post $6.29 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 1st. Shareholders of record on Friday, June 30th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date is Wednesday, June 28th. Deere & Company’s dividend payout ratio (DPR) is currently 43.24%.
A number of institutional investors have recently added to or reduced their stakes in the company. Ledyard National Bank increased its position in Deere & Company by 5.0% in the first quarter. Ledyard National Bank now owns 1,050 shares of the industrial products company’s stock worth $114,000 after buying an additional 50 shares during the period. Guardian Life Insurance Co. of America increased its position in Deere & Company by 1.4% in the first quarter. Guardian Life Insurance Co. of America now owns 1,132 shares of the industrial products company’s stock worth $123,000 after buying an additional 16 shares during the period. MCF Advisors LLC increased its position in Deere & Company by 26.2% in the first quarter. MCF Advisors LLC now owns 1,160 shares of the industrial products company’s stock worth $126,000 after buying an additional 241 shares during the period. Parallel Advisors LLC purchased a new position in Deere & Company during the fourth quarter worth $135,000. Finally, Sowell Financial Services LLC purchased a new position in Deere & Company during the fourth quarter worth $142,000. 67.82% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts have recently issued reports on DE shares. Barclays PLC set a $80.00 price objective on shares of Deere & Company and gave the stock a “sell” rating in a research note on Sunday, February 19th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $109.00 price objective on shares of Deere & Company in a research note on Tuesday, February 21st. Wells Fargo & Company reaffirmed an “outperform” rating and issued a $124.50 price objective (up previously from $121.50) on shares of Deere & Company in a research note on Tuesday, February 21st. Zacks Investment Research raised shares of Deere & Company from a “hold” rating to a “buy” rating and set a $124.00 price objective on the stock in a research note on Wednesday, February 22nd. Finally, TheStreet cut shares of Deere & Company from a “b” rating to a “c+” rating in a research note on Wednesday, February 22nd. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $121.20.
About Deere & Company
Deere & Company is engaged in equipment operations. The Company is engaged in providing financial services. The Company operates through three business segments: agriculture and turf, construction and forestry, and financial services. The agriculture and turf segment manufactures and distributes a line of agriculture and turf equipment and related service parts.
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