Csenge Advisory Group Acquires 3,416 Shares of Deere & Company $DE

Csenge Advisory Group raised its holdings in Deere & Company (NYSE:DE) by 84.9% in the third quarter, Holdings Channel reports. The fund owned 7,440 shares of the industrial products company’s stock after acquiring an additional 3,416 shares during the period. Csenge Advisory Group’s holdings in Deere & Company were worth $3,402,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of DE. Mid American Wealth Advisory Group Inc. acquired a new position in shares of Deere & Company in the 2nd quarter valued at approximately $25,000. Howard Hughes Medical Institute bought a new position in Deere & Company in the second quarter valued at approximately $27,000. Marshall & Sullivan Inc. WA bought a new position in Deere & Company in the second quarter valued at approximately $38,000. Center for Financial Planning Inc. boosted its holdings in shares of Deere & Company by 406.7% in the second quarter. Center for Financial Planning Inc. now owns 76 shares of the industrial products company’s stock valued at $39,000 after buying an additional 61 shares during the period. Finally, Toth Financial Advisory Corp increased its position in shares of Deere & Company by 182.1% during the second quarter. Toth Financial Advisory Corp now owns 79 shares of the industrial products company’s stock worth $40,000 after acquiring an additional 51 shares in the last quarter. 68.58% of the stock is currently owned by institutional investors.

Deere & Company Stock Performance

Shares of DE stock opened at $514.62 on Friday. The stock has a market cap of $139.18 billion, a P/E ratio of 27.80, a P/E/G ratio of 1.97 and a beta of 1.00. 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 company has a fifty day moving average price of $478.44 and a two-hundred day moving average price of $481.95. Deere & Company has a one year low of $404.42 and a one year high of $533.78.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Wednesday, November 26th. The industrial products company reported $3.93 earnings per share for the quarter, missing the consensus estimate 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 in the prior year, the firm earned $4.55 earnings per share. As a group, equities analysts predict that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 9th. Shareholders of record on Wednesday, December 31st will be issued a dividend of $1.62 per share. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $6.48 annualized dividend and a yield of 1.3%. Deere & Company’s dividend payout ratio (DPR) is currently 35.01%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on DE. Robert W. Baird cut their price target on Deere & Company from $488.00 to $467.00 and set a “neutral” rating on the stock in a report on Monday, October 13th. Truist Financial boosted their target price on Deere & Company from $609.00 to $612.00 and gave the company a “buy” rating in a research note on Friday, November 28th. Wells Fargo & Company initiated coverage on shares of Deere & Company in a research note on Thursday, November 13th. They set an “overweight” rating and a $543.00 price target for the company. UBS Group reiterated a “buy” rating on shares of Deere & Company in a report on Tuesday, November 25th. Finally, DA Davidson restated a “buy” rating and set a $580.00 target price on shares of Deere & Company in a report on Monday, December 1st. One 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, the company currently has an average rating of “Moderate Buy” and a consensus price target of $524.20.

Insider Transactions at Deere & Company

In related news, insider Cory J. Reed sold 12,000 shares of the business’s stock in a transaction on Wednesday, January 14th. The stock was sold at an average price of $510.00, for a total value of $6,120,000.00. Following the completion of the sale, the insider directly owned 20,792 shares in the company, valued at $10,603,920. The trade was a 36.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO John C. May II sold 41,472 shares of the company’s stock in a transaction dated Thursday, January 8th. The shares were sold at an average price of $501.49, for a total transaction of $20,797,793.28. Following the completion of the transaction, the chief executive officer owned 117,970 shares in the company, valued at $59,160,775.30. This trade represents a 26.01% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 64,578 shares of company stock valued at $32,471,682. 0.29% of the stock is currently owned by corporate insiders.

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.