Deere & Company $DE Stock Position Cut by Alps Advisors Inc.

Alps Advisors Inc. cut its holdings in shares of Deere & Company (NYSE:DEFree Report) by 80.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 984 shares of the industrial products company’s stock after selling 4,175 shares during the period. Alps Advisors Inc.’s holdings in Deere & Company were worth $450,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Brighton Jones LLC grew its stake in Deere & Company by 39.1% in the fourth quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company’s stock valued at $1,927,000 after purchasing an additional 1,278 shares in the last quarter. Nordea Investment Management AB grew its stake in Deere & Company by 10.2% in the 2nd quarter. Nordea Investment Management AB now owns 310,351 shares of the industrial products company’s stock valued at $157,894,000 after buying an additional 28,810 shares during the last quarter. Angeles Wealth Management LLC lifted its position in shares of Deere & Company by 34.4% during the 2nd quarter. Angeles Wealth Management LLC now owns 915 shares of the industrial products company’s stock worth $465,000 after purchasing an additional 234 shares during the last quarter. Stratos Wealth Partners LTD. grew its stake in shares of Deere & Company by 8.1% in the second quarter. Stratos Wealth Partners LTD. now owns 9,249 shares of the industrial products company’s stock worth $4,703,000 after acquiring an additional 693 shares during the last quarter. Finally, Ariston Services Group raised its position in shares of Deere & Company by 33.7% during the second quarter. Ariston Services Group now owns 695 shares of the industrial products company’s stock valued at $353,000 after buying an additional 175 shares during the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Stock Performance

Shares of NYSE:DE opened at $602.54 on Friday. Deere & Company has a 1 year low of $404.42 and a 1 year high of $626.25. The stock has a market capitalization of $163.33 billion, a price-to-earnings ratio of 32.55, a price-to-earnings-growth ratio of 2.40 and a beta of 1.02. The company has a debt-to-equity ratio of 1.68, a current ratio of 2.22 and a quick ratio of 2.01. The company’s 50 day simple moving average is $507.56 and its 200 day simple moving average is $487.27.

Deere & Company (NYSE:DEGet Free Report) last posted 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 return on equity of 20.54% and a net margin of 11.00%.The company had revenue of $12.39 billion during the quarter, compared to the consensus estimate of $9.77 billion. During the same period last year, the company posted $4.55 EPS. The firm’s revenue was up 14.1% compared to the same quarter last year. As a group, research analysts predict that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 9th. Shareholders of record on Wednesday, December 31st were issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Wednesday, December 31st. Deere & Company’s dividend payout ratio is presently 35.01%.

Insider Activity

In related news, insider Cory J. Reed sold 12,000 shares of the business’s stock in a transaction on Wednesday, January 14th. The shares were sold at an average price of $510.00, for a total value of $6,120,000.00. Following the sale, the insider owned 20,792 shares of the company’s stock, valued at $10,603,920. The trade was a 36.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through 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 stock was sold at an average price of $501.49, for a total value of $20,797,793.28. Following the transaction, the chief executive officer directly owned 117,970 shares in the company, 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. Over 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.

Deere & Company News Summary

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

Wall Street Analysts Forecast Growth

DE has been the subject of several recent research reports. Jefferies Financial Group increased their price target on shares of Deere & Company from $440.00 to $475.00 and gave the stock a “hold” rating in a research report on Tuesday, December 9th. Wells Fargo & Company initiated coverage on shares of Deere & Company in a research note on Thursday, November 13th. They issued an “overweight” rating and a $543.00 target price for the company. Zacks Research raised Deere & Company from a “strong sell” rating to a “hold” rating in a research note on Wednesday, December 3rd. UBS Group reiterated a “buy” rating on shares of Deere & Company in a research report on Tuesday, November 25th. Finally, Daiwa Securities Group lowered their target price on shares of Deere & Company from $530.00 to $520.00 and set an “outperform” rating for the company in a research note on Tuesday, December 2nd. Fifteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $524.20.

Get Our Latest Stock Analysis on Deere & Company

Deere & Company Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Deere & Company (NYSE:DE)

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