Burney Co. Lowers Stock Position in Deere & Company $DE

Burney Co. cut its position in shares of Deere & Company (NYSE:DE) by 7.6% during the 3rd quarter, Holdings Channel reports. The firm owned 16,691 shares of the industrial products company’s stock after selling 1,365 shares during the quarter. Burney Co.’s holdings in Deere & Company were worth $7,632,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Deere & Company during the 2nd quarter worth approximately $1,578,243,000. Marshall Wace LLP increased its position in shares of Deere & Company by 573.9% during the second quarter. Marshall Wace LLP now owns 842,882 shares of the industrial products company’s stock valued at $428,597,000 after acquiring an additional 717,808 shares during the last quarter. TD Asset Management Inc increased its position in shares of Deere & Company by 132.0% during the second quarter. TD Asset Management Inc now owns 721,638 shares of the industrial products company’s stock valued at $366,946,000 after acquiring an additional 410,636 shares during the last quarter. Voya Investment Management LLC lifted its holdings in Deere & Company by 97.1% during the first 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 during the period. Finally, Laurel Wealth Advisors LLC boosted its position in Deere & Company by 50,691.9% in the second quarter. Laurel Wealth Advisors LLC now owns 332,179 shares of the industrial products company’s stock worth $168,910,000 after purchasing an additional 331,525 shares during the last quarter. 68.58% of the stock is owned by institutional investors.

Deere & Company Stock Up 0.3%

DE opened at $468.84 on Friday. Deere & Company has a 12 month low of $403.01 and a 12 month high of $533.78. The company has a market cap of $126.80 billion, a PE ratio of 25.33, a price-to-earnings-growth ratio of 1.79 and a beta of 1.00. The company has a current ratio of 2.22, a quick ratio of 2.01 and a debt-to-equity ratio of 1.68. The company has a 50 day moving average of $473.11 and a 200 day moving average of $485.14.

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

Deere & Company Dividend Announcement

The business also recently announced 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 annualized dividend and a yield of 1.4%. Deere & Company’s dividend payout ratio (DPR) is currently 35.01%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on DE. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Deere & Company in a research report on Tuesday, December 9th. Robert W. Baird decreased their price objective on shares of Deere & Company from $488.00 to $467.00 and set a “neutral” rating for the company in a report on Monday, October 13th. Truist Financial lifted their price objective on shares of Deere & Company from $609.00 to $612.00 and gave the stock a “buy” rating in a research report on Friday, November 28th. Zacks Research raised shares of Deere & Company from a “strong sell” rating to a “hold” rating in a research report on Wednesday, December 3rd. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Deere & Company in a research note on Monday. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $522.70.

Insiders Place Their Bets

In other Deere & Company news, CEO John C. May II sold 11,106 shares of Deere & Company stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $500.08, for a total transaction of $5,553,888.48. Following the completion of the transaction, the chief executive officer owned 112,453 shares of the company’s stock, valued at $56,235,496.24. The trade was a 8.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.29% of the stock is owned by insiders.

Deere & Company Profile

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.