Insider Selling: Deere & Company (DE) Insider Sells 8,015 Shares of Stock
Deere & Company (NYSE:DE) insider Jean H. Gilles sold 8,015 shares of Deere & stock in a transaction on Monday, August 7th. The stock was sold at an average price of $129.99, for a total transaction of $1,041,869.85. Following the transaction, the insider now directly owns 70,635 shares of the company’s stock, valued at $9,181,843.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Deere & Company (NYSE:DE) traded up 1.674% during trading on Tuesday, hitting $132.135. The company’s stock had a trading volume of 1,169,192 shares. The firm has a 50 day moving average of $125.86 and a 200 day moving average of $115.48. The firm has a market cap of $42.26 billion, a P/E ratio of 23.787 and a beta of 0.67. Deere & Company has a 12 month low of $76.73 and a 12 month high of $132.17. Deere & also saw some unusual options trading on Monday. Stock traders acquired 731 call options on the stock. This represents an increase of 255% compared to the typical daily volume of 206 call options.
Deere & (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, beating the Thomson Reuters’ consensus estimate of $1.70 by $0.79. Deere & had a return on equity of 24.85% and a net margin of 6.52%. The company had revenue of $7.26 billion for the quarter, compared to analyst estimates of $7.27 billion. During the same period in the previous year, the company posted $1.56 earnings per share. The firm’s revenue was up 2.2% on a year-over-year basis. Equities research analysts predict that Deere & Company will post $6.37 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Investors of record on Friday, June 30th were given a dividend of $0.60 per share. The ex-dividend date was Wednesday, June 28th. This represents a $2.40 annualized dividend and a dividend yield of 1.85%. Deere &’s dividend payout ratio is presently 43.24%.
Large investors have recently added to or reduced their stakes in the stock. Ledyard National Bank raised its stake in Deere & by 5.0% in the first quarter. Ledyard National Bank now owns 1,050 shares of the industrial products company’s stock valued at $114,000 after buying an additional 50 shares in the last quarter. Guardian Life Insurance Co. of America raised its stake in Deere & 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 valued at $123,000 after buying an additional 16 shares in the last quarter. Arrow Financial Corp raised its stake in Deere & by 5.2% in the second quarter. Arrow Financial Corp now owns 1,010 shares of the industrial products company’s stock valued at $125,000 after buying an additional 50 shares in the last quarter. MCF Advisors LLC raised its stake in Deere & by 26.2% in the first quarter. MCF Advisors LLC now owns 1,160 shares of the industrial products company’s stock valued at $126,000 after buying an additional 241 shares in the last quarter. Finally, Endurance Wealth Management Inc. raised its stake in Deere & by 2.2% in the first quarter. Endurance Wealth Management Inc. now owns 1,404 shares of the industrial products company’s stock valued at $153,000 after buying an additional 30 shares in the last quarter. Institutional investors own 67.35% of the company’s stock.
A number of equities research analysts have recently issued reports on the stock. TheStreet raised shares of Deere & from a “c+” rating to an “a-” rating in a research report on Friday, May 19th. Credit Suisse Group set a $132.00 target price on shares of Deere & and gave the company a “buy” rating in a research report on Saturday, May 20th. Stifel Nicolaus boosted their target price on shares of Deere & from $126.00 to $135.00 and gave the company a “buy” rating in a research report on Monday, May 22nd. BMO Capital Markets reissued a “buy” rating and issued a $128.00 target price on shares of Deere & in a research report on Thursday, April 20th. Finally, Citigroup Inc. boosted their target price on shares of Deere & from $125.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, May 23rd. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and thirteen have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $122.60.
About Deere &
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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