Lee Financial Co Invests $1.12 Million in Deere & Company $DE

Lee Financial Co bought a new position in Deere & Company (NYSE:DE) during the 3rd quarter, Holdings Channel reports. The fund bought 2,439 shares of the industrial products company’s stock, valued at approximately $1,115,000.

A number of other hedge funds have also recently bought and sold shares of DE. Mid American Wealth Advisory Group Inc. acquired a new position in Deere & Company in the second quarter worth about $25,000. Howard Hughes Medical Institute bought a new position in shares of Deere & Company in the second quarter worth about $27,000. Activest Wealth Management boosted its position in Deere & Company by 69.2% in the 3rd quarter. Activest Wealth Management now owns 66 shares of the industrial products company’s stock valued at $30,000 after buying an additional 27 shares during the last quarter. Center for Financial Planning Inc. raised its holdings in Deere & Company by 406.7% during the 2nd quarter. Center for Financial Planning Inc. now owns 76 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 61 shares during the last quarter. Finally, Soundwatch Capital LLC bought a new stake in shares of Deere & Company during the 2nd quarter valued at $41,000. 68.58% of the stock is owned by institutional investors.

More Deere & Company News

Here are the key news stories impacting Deere & Company this week:

• Positive Sentiment: Traders rotating out of big tech and into cyclical, economy‑sensitive stocks helped push Deere to an intraday record as investors price in lower rates and stronger growth expectations. Deere shares jump to record as traders rotate out of tech
• Positive Sentiment: Deere is expanding U.S. manufacturing footprint with two new industrial facilities (Indiana and North Carolina), signaling management expects sustained demand and supporting future capacity and service operations. John Deere to Open Two New Industrial Facilities in Indiana, North Carolina
• Positive Sentiment: Deere plans to recall about 99 workers at its Davenport and Dubuque plants in February, a near‑term sign of ramping production and improving order activity at U.S. facilities. John Deere to recall 99 workers at Davenport, Dubuque plants in February

Insider Buying and Selling 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 transaction of $6,120,000.00. Following the sale, the insider directly owned 20,792 shares in the company, valued at approximately $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 can be accessed through this hyperlink. Also, CEO John C. May II sold 41,472 shares of the stock in a transaction that occurred on Thursday, January 8th. The stock was sold at an average price of $501.49, for a total transaction of $20,797,793.28. Following the completion of the sale, the chief executive officer owned 117,970 shares in the company, valued at $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. In the last 90 days, insiders have sold 64,578 shares of company stock worth $32,471,682. Company insiders own 0.29% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Keefe, Bruyette & Woods restated an “outperform” rating on shares of Deere & Company in a report on Monday, December 1st. Wolfe Research lifted their price target on Deere & Company from $520.00 to $550.00 and gave the stock an “outperform” rating in a report on Friday, January 2nd. Oppenheimer increased their price objective on shares of Deere & Company from $512.00 to $531.00 and gave the company an “outperform” rating in a research report on Friday, November 28th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Deere & Company in a research report on Monday, December 29th. Finally, DA Davidson reiterated a “buy” rating and set a $580.00 target price on shares of Deere & Company in a research report on Monday, December 1st. Fifteen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $524.20.

Deere & Company Trading Down 0.7%

NYSE DE opened at $526.11 on Friday. The company has a debt-to-equity ratio of 1.68, a current ratio of 2.22 and a quick ratio of 2.01. Deere & Company has a one year low of $404.42 and a one year high of $537.26. The business has a 50 day simple moving average of $487.18 and a 200 day simple moving average of $482.32. The stock has a market capitalization of $142.61 billion, a P/E ratio of 28.42, a P/E/G ratio of 2.11 and a beta of 1.00.

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

Deere & Company Dividend Announcement

The company 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 is Wednesday, December 31st. This represents a $6.48 annualized dividend and a dividend yield of 1.2%. Deere & Company’s dividend payout ratio is presently 35.01%.

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.