Deere & Company $DE Shares Sold by Miracle Mile Advisors LLC

Miracle Mile Advisors LLC lessened its position in shares of Deere & Company (NYSE:DE) by 14.8% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 15,811 shares of the industrial products company’s stock after selling 2,748 shares during the quarter. Miracle Mile Advisors LLC’s holdings in Deere & Company were worth $7,230,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Deere & Company by 1.4% during the second quarter. Vanguard Group Inc. now owns 22,372,671 shares of the industrial products company’s stock worth $11,376,279,000 after acquiring an additional 309,081 shares during the last quarter. State Street Corp boosted its stake in Deere & Company by 0.6% during the 2nd quarter. State Street Corp now owns 10,386,268 shares of the industrial products company’s stock worth $5,297,913,000 after purchasing an additional 64,262 shares during the period. Geode Capital Management LLC boosted its stake in Deere & Company by 2.1% during the 2nd quarter. Geode Capital Management LLC now owns 5,541,778 shares of the industrial products company’s stock worth $2,810,807,000 after purchasing an additional 111,627 shares during the period. Norges Bank purchased a new position in Deere & Company during the 2nd quarter worth $1,578,243,000. Finally, Fisher Asset Management LLC increased its stake in Deere & Company by 10.1% in the second quarter. Fisher Asset Management LLC now owns 2,580,228 shares of the industrial products company’s stock valued at $1,312,020,000 after purchasing an additional 236,406 shares during the period. Hedge funds and other institutional investors 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 dated Tuesday, November 25th. The shares were sold at an average price of $500.08, for a total value of $5,553,888.48. Following the completion of the transaction, the chief executive officer owned 112,453 shares in the company, valued at $56,235,496.24. This trade represents a 8.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.29% of the stock is currently owned by company insiders.

Deere & Company Stock Performance

Shares of DE stock opened at $465.73 on Friday. 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 stock has a 50 day simple moving average of $473.45 and a 200-day simple moving average of $483.81. The company has a market cap of $125.96 billion, a price-to-earnings ratio of 25.16, a price-to-earnings-growth ratio of 1.78 and a beta of 1.00. Deere & Company has a 12-month low of $403.01 and a 12-month high of $533.78.

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

Deere & Company Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on DE shares. Morgan Stanley reaffirmed an “overweight” rating and issued a $560.00 target price on shares of Deere & Company in a report on Tuesday, December 9th. Wells Fargo & Company initiated coverage on Deere & Company in a research note on Thursday, November 13th. They set an “overweight” rating and a $543.00 price objective for the company. Robert W. Baird lowered their target price 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. UBS Group restated a “buy” rating on shares of Deere & Company in a research note on Tuesday, November 25th. Finally, Jefferies Financial Group lifted their price objective on shares of Deere & Company from $440.00 to $475.00 and gave the company a “hold” rating in a research report on Tuesday, December 9th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $522.70.

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.