Deere & Company $DE Shares Sold by Cerity Partners LLC

Cerity Partners LLC decreased its stake in shares of Deere & Company (NYSE:DE) by 1.4% during the 2nd quarter, Holdings Channel.com reports. The firm owned 181,274 shares of the industrial products company’s stock after selling 2,620 shares during the period. Cerity Partners LLC’s holdings in Deere & Company were worth $92,178,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of DE. Norges Bank acquired a new position in shares of Deere & Company during the second quarter worth about $1,578,243,000. Nuveen LLC acquired a new stake in Deere & Company in the first quarter valued at approximately $571,073,000. Marshall Wace LLP lifted its stake in Deere & Company by 573.9% in the second quarter. Marshall Wace LLP now owns 842,882 shares of the industrial products company’s stock worth $428,597,000 after acquiring an additional 717,808 shares during the last quarter. TD Asset Management Inc grew its holdings in Deere & Company by 132.0% during the 2nd quarter. TD Asset Management Inc now owns 721,638 shares of the industrial products company’s stock worth $366,946,000 after acquiring an additional 410,636 shares in the last quarter. Finally, Voya Investment Management LLC grew its holdings in Deere & Company by 97.1% during the 1st quarter. Voya Investment Management LLC now owns 733,871 shares of the industrial products company’s stock worth $344,442,000 after acquiring an additional 361,526 shares in the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Insider Buying and Selling at Deere & Company

In other news, CEO John C. May II sold 11,106 shares of the stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $500.08, for a total value of $5,553,888.48. Following the completion of the sale, the chief executive officer directly owned 112,453 shares of the company’s stock, valued at approximately $56,235,496.24. This represents a 8.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.29% of the company’s stock.

Analysts Set New Price Targets

DE has been the topic of a number of analyst reports. Sanford C. Bernstein raised their price objective on shares of Deere & Company from $487.00 to $521.00 and gave the company a “market perform” rating in a report on Thursday, November 13th. Truist Financial raised their price target on Deere & Company from $609.00 to $612.00 and gave the company a “buy” rating in a research note on Friday, November 28th. Zacks Research raised Deere & Company from a “strong sell” rating to a “hold” rating in a report on Wednesday, December 3rd. Wall Street Zen cut Deere & Company from a “hold” rating to a “sell” rating in a research report on Friday, November 28th. Finally, Royal Bank Of Canada cut their target price on Deere & Company from $542.00 to $541.00 and set an “outperform” rating on the stock in a research report on Friday, November 28th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat, Deere & Company has an average rating of “Moderate Buy” and a consensus target price of $518.95.

Deere & Company Stock Performance

NYSE DE opened at $475.13 on Monday. The company has a fifty day moving average of $467.81 and a two-hundred day moving average of $488.77. The company has a market capitalization of $128.44 billion, a PE ratio of 25.67, a P/E/G ratio of 1.75 and a beta of 1.00. Deere & Company has a 1 year low of $403.01 and a 1 year high of $533.78. The company has a debt-to-equity ratio of 1.68, a current ratio of 2.22 and a quick ratio of 2.01.

Deere & Company (NYSE:DE) last posted its earnings results on Wednesday, November 26th. The industrial products company reported $3.93 EPS for the quarter, missing analysts’ consensus estimates of $3.96 by ($0.03). The firm had revenue of $12.39 billion for the quarter, compared to analyst estimates of $9.77 billion. Deere & Company had a return on equity of 20.54% and a net margin of 11.00%.The firm’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same quarter last year, the firm posted $4.55 EPS. As a group, analysts expect that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 9th. Shareholders of record on Wednesday, December 31st will be paid a $1.62 dividend. The ex-dividend date is Wednesday, December 31st. This represents a $6.48 dividend on an annualized basis and a yield of 1.4%. Deere & Company’s payout ratio is currently 35.01%.

Deere & Company Company Profile

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.