Allstate Corp Has $4.32 Million Stock Holdings in Deere & Company $DE

Allstate Corp raised its stake in shares of Deere & Company (NYSE:DE) by 1,658.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,442 shares of the industrial products company’s stock after purchasing an additional 8,905 shares during the quarter. Allstate Corp’s holdings in Deere & Company were worth $4,317,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of DE. Vivid Wealth Management LLC increased its stake 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 buying an additional 20 shares during the period. Werba Rubin Papier Wealth Management increased its position in Deere & Company by 3.0% in the second quarter. Werba Rubin Papier Wealth Management now owns 676 shares of the industrial products company’s stock worth $344,000 after purchasing an additional 20 shares during the period. Prairie Wealth Advisors Inc. raised its holdings in Deere & Company by 2.1% during the 2nd quarter. Prairie Wealth Advisors Inc. now owns 964 shares of the industrial products company’s stock worth $492,000 after purchasing an additional 20 shares during the last quarter. Trilogy Capital Inc. lifted its position in Deere & Company by 1.3% during the 2nd quarter. Trilogy Capital Inc. now owns 1,692 shares of the industrial products company’s stock valued at $860,000 after purchasing an additional 21 shares during the period. Finally, Rehmann Capital Advisory Group lifted its position in Deere & Company by 0.9% during the 2nd quarter. Rehmann Capital Advisory Group now owns 2,486 shares of the industrial products company’s stock valued at $1,264,000 after purchasing an additional 21 shares during the period. 68.58% of the stock is currently owned by institutional investors.

Insider Activity at Deere & Company

In other Deere & Company news, insider Cory J. Reed sold 12,000 shares of the company’s stock in a transaction on Wednesday, January 14th. The stock was sold at an average price of $510.00, for a total transaction 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. This represents a 36.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John C. May II sold 41,472 shares of the company’s stock in a transaction on Thursday, January 8th. The stock was sold at an average price of $501.49, for a total value of $20,797,793.28. Following the sale, the chief executive officer owned 117,970 shares of the company’s stock, valued at approximately $59,160,775.30. This represents a 26.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders 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 Stock Down 0.1%

NYSE:DE opened at $514.62 on Tuesday. Deere & Company has a twelve month low of $404.42 and a twelve month high of $533.78. The firm has a market capitalization of $139.50 billion, a price-to-earnings ratio of 27.80, a price-to-earnings-growth ratio of 1.97 and a beta of 1.00. The company has a quick ratio of 2.01, a current ratio of 2.22 and a debt-to-equity ratio of 1.68. The stock’s 50 day moving average price is $479.23 and its two-hundred day moving average price is $481.47.

Deere & Company (NYSE:DE) last issued 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). The firm had revenue of $12.39 billion during the quarter, compared to analyst estimates of $9.77 billion. Deere & Company had a net margin of 11.00% and a return on equity of 20.54%. The company’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same quarter last year, the business posted $4.55 earnings per share. Equities research analysts expect that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

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

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. DA Davidson reiterated a “buy” rating and set a $580.00 price target on shares of Deere & Company in a research report on Monday, December 1st. BMO Capital Markets reiterated a “market perform” rating and set a $460.00 target price on shares of Deere & Company in a research report on Tuesday, December 9th. Robert W. Baird reduced their price target on Deere & Company from $488.00 to $467.00 and set a “neutral” rating on the stock in a research report on Monday, October 13th. Zacks Research upgraded Deere & Company from a “strong sell” rating to a “hold” rating in a report on Wednesday, December 3rd. Finally, Citigroup cut their target price on Deere & Company from $525.00 to $515.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 7th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $524.20.

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.