Deere & Company $DE Holdings Reduced by Baillie Gifford & Co.

Baillie Gifford & Co. lowered its position in Deere & Company (NYSE:DE) by 2.0% during the 3rd quarter, Holdings Channel.com reports. The firm owned 542,683 shares of the industrial products company’s stock after selling 11,215 shares during the quarter. Baillie Gifford & Co.’s holdings in Deere & Company were worth $248,147,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in DE. Norges Bank acquired a new stake in Deere & Company in the 2nd quarter valued at approximately $1,578,243,000. Marshall Wace LLP grew its stake in shares of Deere & Company by 573.9% in the second quarter. Marshall Wace LLP now owns 842,882 shares of the industrial products company’s stock worth $428,597,000 after purchasing an additional 717,808 shares in the last quarter. TD Asset Management Inc increased its holdings 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 purchasing an additional 410,636 shares during the period. Laurel Wealth Advisors LLC raised its stake in shares of Deere & Company by 50,691.9% during the second quarter. Laurel Wealth Advisors LLC now owns 332,179 shares of the industrial products company’s stock valued at $168,910,000 after purchasing an additional 331,525 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Deere & Company by 1.4% in 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 purchasing an additional 309,081 shares during the period. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Price Performance

DE stock opened at $514.92 on Friday. Deere & Company has a one year low of $404.42 and a one year high of $533.78. The firm has a 50-day moving average of $482.61 and a two-hundred day moving average of $482.05. The firm has a market capitalization of $139.58 billion, a PE ratio of 27.82, a P/E/G ratio of 2.00 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.

Deere & Company (NYSE:DE) last released its earnings results 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 during the quarter, compared to analysts’ expectations of $9.77 billion. Deere & Company had a return on equity of 20.54% and a net margin of 11.00%.The business’s revenue was up 14.1% on a year-over-year basis. During the same period last year, the business earned $4.55 earnings per share. On average, analysts forecast that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Keefe, Bruyette & Woods reissued an “outperform” rating on shares of Deere & Company in a research note on Monday, December 1st. Wolfe Research increased their price objective on shares of Deere & Company from $520.00 to $550.00 and gave the company an “outperform” rating in a report on Friday, January 2nd. Truist Financial boosted their target price on Deere & Company from $609.00 to $612.00 and gave the stock a “buy” rating in a report on Friday, November 28th. Morgan Stanley restated an “overweight” rating and issued a $560.00 target price on shares of Deere & Company in a research report on Tuesday, December 9th. Finally, Citigroup lowered their price target on Deere & Company from $525.00 to $515.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 7th. Fifteen research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, Deere & Company has a consensus rating of “Moderate Buy” and an average price target of $524.20.

Insider Buying and Selling at Deere & Company

In related news, insider Cory J. Reed sold 12,000 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $10,603,920. This represents a 36.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO John C. May II sold 41,472 shares of the firm’s stock in a transaction dated 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 $59,160,775.30. The trade was a 26.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 64,578 shares of company stock valued at $32,471,682. 0.29% of the stock is currently 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.