Deere & Company $DE Stock Position Decreased by Triglav Investments D.O.O.

Triglav Investments D.O.O. cut its stake in shares of Deere & Company (NYSE:DE) by 83.6% in the 3rd quarter, Holdings Channel reports. The firm owned 3,239 shares of the industrial products company’s stock after selling 16,570 shares during the quarter. Triglav Investments D.O.O.’s holdings in Deere & Company were worth $1,480,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in DE. Norges Bank acquired a new position in shares of Deere & Company during the second quarter valued at $1,578,243,000. Marshall Wace LLP increased its holdings in shares of Deere & Company by 573.9% in the 2nd quarter. Marshall Wace LLP now owns 842,882 shares of the industrial products company’s stock worth $428,597,000 after acquiring an additional 717,808 shares during the period. TD Asset Management Inc lifted its position in Deere & Company by 132.0% in the 2nd 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 last quarter. Laurel Wealth Advisors LLC boosted its stake in Deere & Company by 50,691.9% during the 2nd 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 during the period. Finally, Vanguard Group Inc. grew its position in Deere & Company by 1.4% in the 2nd 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 last quarter. 68.58% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on DE shares. Truist Financial lifted their price target on Deere & Company from $609.00 to $612.00 and gave the company a “buy” rating in a report on Friday, November 28th. BMO Capital Markets restated a “market perform” rating and issued a $460.00 target price on shares of Deere & Company in a research report on Tuesday, December 9th. Morgan Stanley reiterated an “overweight” rating and set a $560.00 price target on shares of Deere & Company in a research report on Tuesday, December 9th. Wall Street Zen cut Deere & Company from a “hold” rating to a “sell” rating in a research note on Friday, November 28th. Finally, Oppenheimer lifted their price objective on shares of Deere & Company from $512.00 to $531.00 and gave the company an “outperform” rating in a research note on Friday, November 28th. Fifteen analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $524.20.

Deere & Company Stock Performance

Shares of NYSE DE opened at $568.20 on Thursday. Deere & Company has a 1 year low of $404.42 and a 1 year high of $571.56. The firm has a market cap of $154.02 billion, a P/E ratio of 30.70, a PEG ratio of 2.17 and a beta of 1.02. The stock has a fifty day moving average price of $490.96 and a two-hundred day moving average price of $483.28. 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 (NYSE:DE) last posted its quarterly earnings data 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 return on equity of 20.54% and a net margin of 11.00%.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 prior year, the firm posted $4.55 EPS. The firm’s quarterly revenue was up 14.1% on a year-over-year basis. Research analysts forecast that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 9th. Stockholders of record on Wednesday, December 31st will be given 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 1.1%. Deere & Company’s dividend payout ratio (DPR) is 35.01%.

Insider Activity

In related news, insider Cory J. Reed sold 12,000 shares of the stock in a transaction that occurred on Wednesday, January 14th. The shares were 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 of the company’s stock, 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 firm’s 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 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 SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 64,578 shares of company stock valued at $32,471,682. Insiders own 0.29% of the company’s stock.

About Deere & Company

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.