Meridian Wealth Management LLC Buys 2,079 Shares of Deere & Company $DE

Meridian Wealth Management LLC increased its stake in Deere & Company (NYSE:DE) by 14.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,190 shares of the industrial products company’s stock after acquiring an additional 2,079 shares during the quarter. Meridian Wealth Management LLC’s holdings in Deere & Company were worth $7,403,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. The Manufacturers Life Insurance Company raised its holdings in Deere & Company by 30.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 364,103 shares of the industrial products company’s stock worth $185,143,000 after purchasing an additional 85,351 shares in the last quarter. OLD National Bancorp IN increased its position in shares of Deere & Company by 2.6% during the second quarter. OLD National Bancorp IN now owns 24,000 shares of the industrial products company’s stock valued at $12,204,000 after buying an additional 610 shares during the period. Csenge Advisory Group raised its stake in Deere & Company by 84.9% in the third quarter. Csenge Advisory Group now owns 7,440 shares of the industrial products company’s stock worth $3,402,000 after buying an additional 3,416 shares in the last quarter. Mesirow Financial Investment Management Inc. lifted its holdings in Deere & Company by 1.0% in the second quarter. Mesirow Financial Investment Management Inc. now owns 4,678 shares of the industrial products company’s stock worth $2,379,000 after buying an additional 45 shares during the period. Finally, MASTERINVEST Kapitalanlage GmbH bought a new stake in Deere & Company during the 2nd quarter valued at approximately $3,615,000. 68.58% of the stock is owned by institutional investors.

Deere & Company Stock Performance

Shares of DE stock opened at $526.11 on Friday. The company has a market capitalization of $142.61 billion, a price-to-earnings ratio of 28.42, a price-to-earnings-growth ratio of 2.11 and a beta of 1.00. The company has a debt-to-equity ratio of 1.68, a quick ratio of 2.01 and a current ratio of 2.22. Deere & Company has a one year low of $404.42 and a one year high of $537.26. The company’s 50-day moving average is $487.18 and its 200 day moving average is $482.32.

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 the consensus estimate of $9.77 billion. Deere & Company had a return on equity of 20.54% and a net margin of 11.00%.The company’s quarterly revenue was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.55 EPS. Sell-side analysts expect that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Announces Dividend

The firm 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 $1.62 dividend. 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 payout ratio is currently 35.01%.

Insiders Place Their Bets

In related news, insider Cory J. Reed sold 12,000 shares of the 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 of the company’s stock, valued at $10,603,920. This trade represents a 36.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO John C. May II sold 41,472 shares of the business’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 completion of the transaction, the chief executive officer directly owned 117,970 shares of the company’s stock, valued at approximately $59,160,775.30. This trade represents a 26.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 64,578 shares of company stock worth $32,471,682. Corporate insiders own 0.29% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on DE shares. UBS Group reissued a “buy” rating on shares of Deere & Company in a research report on Tuesday, November 25th. Royal Bank Of Canada decreased their price objective on Deere & Company from $542.00 to $541.00 and set an “outperform” rating for the company in a report on Friday, November 28th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Deere & Company in a research report on Monday, December 29th. Morgan Stanley reiterated an “overweight” rating and issued a $560.00 price target on shares of Deere & Company in a research note on Tuesday, December 9th. Finally, Daiwa Capital Markets cut their price objective on shares of Deere & Company from $530.00 to $520.00 and set an “outperform” rating on the stock in a report on Tuesday, December 2nd. Fifteen investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, Deere & Company currently has a consensus rating of “Moderate Buy” and an average target price of $524.20.

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

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.