Candriam S.C.A. Sells 11,598 Shares of Deere & Company $DE

Candriam S.C.A. decreased its position in shares of Deere & Company (NYSE:DE) by 34.3% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 22,222 shares of the industrial products company’s stock after selling 11,598 shares during the quarter. Candriam S.C.A.’s holdings in Deere & Company were worth $10,161,000 at the end of the most recent quarter.

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

Insider Buying and Selling at Deere & Company

In other news, insider Cory J. Reed sold 12,000 shares of the firm’s stock in a transaction dated 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 $10,603,920. This trade represents a 36.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John C. May II sold 41,472 shares of Deere & Company stock in a transaction dated Thursday, January 8th. The shares were 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 owned 117,970 shares of the company’s stock, valued at approximately $59,160,775.30. This represents a 26.01% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 64,578 shares of company stock worth $32,471,682. 0.29% of the stock is owned by company insiders.

Deere & Company Stock Up 1.3%

Shares of DE stock opened at $593.11 on Wednesday. Deere & Company has a twelve month low of $404.42 and a twelve month high of $593.76. The stock has a market cap of $160.77 billion, a P/E ratio of 32.04, a P/E/G ratio of 2.34 and a beta of 1.02. The stock has a 50 day moving average of $500.08 and a 200 day moving average of $485.13. 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 quarterly earnings data on Wednesday, November 26th. The industrial products company reported $3.93 EPS for the quarter, missing the consensus estimate of $3.96 by ($0.03). The company 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 company’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.55 EPS. As a group, sell-side analysts expect that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 9th. Investors of record on Wednesday, December 31st were given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 1.1%. The ex-dividend date was Wednesday, December 31st. Deere & Company’s dividend payout ratio (DPR) is currently 35.01%.

Wall Street Analyst Weigh In

DE has been the topic of several recent analyst reports. DA Davidson reiterated a “buy” rating and set a $580.00 price objective on shares of Deere & Company in a research report on Monday, December 1st. Wolfe Research raised their target price on shares of Deere & Company from $520.00 to $550.00 and gave the company an “outperform” rating in a research note on Friday, January 2nd. BMO Capital Markets reiterated a “market perform” rating and issued a $460.00 price target on shares of Deere & Company in a research note on Tuesday, December 9th. Daiwa Securities Group dropped their price objective on shares of Deere & Company from $530.00 to $520.00 and set an “outperform” rating for the company in a report on Tuesday, December 2nd. Finally, JPMorgan Chase & Co. cut their price objective on Deere & Company from $480.00 to $460.00 and set a “neutral” rating for the company in a research report on Friday, December 19th. Fifteen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $524.20.

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.