Calamos Advisors LLC Has $24.05 Million Stock Position in Deere & Company $DE

Calamos Advisors LLC lowered its stake in shares of Deere & Company (NYSE:DE) by 29.8% during the third quarter, HoldingsChannel reports. The firm owned 52,598 shares of the industrial products company’s stock after selling 22,310 shares during the quarter. Calamos Advisors LLC’s holdings in Deere & Company were worth $24,051,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in DE. Southland Equity Partners LLC increased its holdings in Deere & Company by 3.9% during the second quarter. Southland Equity Partners LLC now owns 534 shares of the industrial products company’s stock worth $271,000 after buying an additional 20 shares during the last quarter. Vivid Wealth Management LLC raised its holdings in shares of Deere & Company by 1.9% in the 2nd quarter. Vivid Wealth Management LLC now owns 1,088 shares of the industrial products company’s stock valued at $553,000 after purchasing an additional 20 shares during the period. Werba Rubin Papier Wealth Management raised its holdings in shares of Deere & Company by 3.0% in the 2nd quarter. Werba Rubin Papier Wealth Management now owns 676 shares of the industrial products company’s stock valued at $344,000 after purchasing an additional 20 shares during the period. Prairie Wealth Advisors Inc. lifted its stake in Deere & Company by 2.1% in the 2nd quarter. Prairie Wealth Advisors Inc. now owns 964 shares of the industrial products company’s stock valued at $492,000 after purchasing an additional 20 shares during the last quarter. Finally, McLean Asset Management Corp grew its holdings in Deere & Company by 4.0% during the second quarter. McLean Asset Management Corp now owns 544 shares of the industrial products company’s stock worth $283,000 after purchasing an additional 21 shares during the period. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Stock Down 0.0%

DE stock opened at $470.11 on Wednesday. Deere & Company has a fifty-two week low of $403.01 and a fifty-two week 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. The stock has a market capitalization of $127.14 billion, a price-to-earnings ratio of 25.40, a PEG ratio of 1.80 and a beta of 1.00. The business’s fifty day moving average price is $473.46 and its two-hundred day moving average price is $484.07.

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

Deere & Company Dividend Announcement

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

Insider Activity

In related 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 transaction of $5,553,888.48. Following the sale, the chief executive officer owned 112,453 shares of the company’s stock, valued at $56,235,496.24. This represents a 8.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.29% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on DE. JPMorgan Chase & Co. dropped their price objective on Deere & Company from $480.00 to $460.00 and set a “neutral” rating on the stock in a research note on Friday, December 19th. Robert W. Baird dropped their price target on Deere & Company from $488.00 to $467.00 and set a “neutral” rating on the stock in a research note on Monday, October 13th. Oppenheimer raised their price target on Deere & Company from $512.00 to $531.00 and gave the company an “outperform” rating in a report on Friday, November 28th. Zacks Research upgraded shares of Deere & Company from a “strong sell” rating to a “hold” rating in a report on Wednesday, December 3rd. Finally, Royal Bank Of Canada cut their target price on shares of Deere & Company from $542.00 to $541.00 and set an “outperform” rating for the company in a research note on Friday, November 28th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, Deere & Company has an average rating of “Moderate Buy” and an average price target of $522.70.

Deere & Company 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.