Deere & Company (DE) Insider Sells $3,328,914.71 in Stock
Deere & Company (NYSE:DE) insider Max A. Guinn sold 21,989 shares of the stock in a transaction on Tuesday, December 5th. The shares were sold at an average price of $151.39, for a total value of $3,328,914.71. Following the transaction, the insider now directly owns 64,377 shares of the company’s stock, valued at $9,746,034.03. The sale was disclosed in a document filed with the SEC, which is accessible through this link.
Deere & Company (NYSE DE) traded down $0.30 on Wednesday, hitting $150.67. The stock had a trading volume of 1,802,500 shares, compared to its average volume of 2,401,246. The stock has a market capitalization of $48,506.20, a price-to-earnings ratio of 22.74, a P/E/G ratio of 2.33 and a beta of 0.77. Deere & Company has a one year low of $100.05 and a one year high of $152.68. The company has a debt-to-equity ratio of 2.71, a current ratio of 2.12 and a quick ratio of 1.95.
Deere & Company (NYSE:DE) last released its earnings results on Wednesday, November 22nd. The industrial products company reported $1.57 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.47 by $0.10. The company had revenue of $7.09 billion during the quarter, compared to analyst estimates of $6.91 billion. Deere & Company had a return on equity of 26.31% and a net margin of 7.22%. The company’s revenue for the quarter was up 25.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.90 earnings per share. equities analysts expect that Deere & Company will post 7.9 earnings per share for the current year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in DE. Shelton Capital Management increased its stake in shares of Deere & Company by 13.6% in the third quarter. Shelton Capital Management now owns 4,216 shares of the industrial products company’s stock worth $529,000 after acquiring an additional 504 shares during the last quarter. Steward Partners Investment Advisory LLC acquired a new position in shares of Deere & Company in the third quarter worth $235,000. Public Employees Retirement System of Ohio increased its stake in shares of Deere & Company by 0.7% in the third quarter. Public Employees Retirement System of Ohio now owns 246,966 shares of the industrial products company’s stock worth $31,016,000 after acquiring an additional 1,698 shares during the last quarter. Americafirst Capital Management LLC increased its stake in shares of Deere & Company by 118.2% in the third quarter. Americafirst Capital Management LLC now owns 2,599 shares of the industrial products company’s stock worth $326,000 after acquiring an additional 1,408 shares during the last quarter. Finally, IFM Investors Pty Ltd acquired a new position in shares of Deere & Company in the third quarter worth $963,000. Institutional investors own 67.75% of the company’s stock.
A number of brokerages have issued reports on DE. BMO Capital Markets increased their price target on Deere & Company to $165.00 and gave the company an “outperform” rating in a research note on Tuesday, November 28th. Stifel Nicolaus increased their price objective on Deere & Company to $161.00 and gave the company a “buy” rating in a research report on Monday, November 27th. Credit Suisse Group reiterated a “buy” rating and set a $162.00 price objective on shares of Deere & Company in a research report on Thursday, November 23rd. Argus reiterated a “buy” rating and set a $165.00 price objective on shares of Deere & Company in a research report on Monday, November 27th. They noted that the move was a valuation call. Finally, Citigroup reiterated a “buy” rating and set a $165.00 price objective on shares of Deere & Company in a research report on Friday, November 24th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $140.33.
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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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