CSM Advisors LLC Decreases Holdings in Deere & Company $DE

CSM Advisors LLC decreased its stake in Deere & Company (NYSE:DE) by 68.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,629 shares of the industrial products company’s stock after selling 10,152 shares during the quarter. CSM Advisors LLC’s holdings in Deere & Company were worth $2,116,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of DE. Norges Bank acquired a new position in shares of Deere & Company during the second quarter valued at approximately $1,578,243,000. Marshall Wace LLP boosted its stake in shares of Deere & Company by 573.9% in the second 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 last quarter. Van ECK Associates Corp increased its position in shares of Deere & Company by 278.0% during the third quarter. Van ECK Associates Corp now owns 487,697 shares of the industrial products company’s stock worth $223,005,000 after purchasing an additional 358,687 shares in the last quarter. Laurel Wealth Advisors LLC increased its position in shares of Deere & Company by 50,691.9% during the second quarter. Laurel Wealth Advisors LLC now owns 332,179 shares of the industrial products company’s stock worth $168,910,000 after purchasing an additional 331,525 shares in the last quarter. Finally, Invesco Ltd. raised its stake in Deere & Company by 21.7% in the 3rd quarter. Invesco Ltd. now owns 1,815,007 shares of the industrial products company’s stock valued at $829,930,000 after purchasing an additional 323,512 shares during the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Insider Activity

In other Deere & Company news, insider Cory J. Reed sold 12,000 shares of Deere & Company stock in a transaction dated 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 transaction, the insider directly 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 Securities & Exchange Commission, which is accessible through 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 shares were sold at an average price of $501.49, for a total transaction of $20,797,793.28. Following the completion of the transaction, the chief executive officer 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. Additional details regarding this sale are available in the official SEC disclosure. 0.29% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

DE has been the topic of a number of research reports. Wells Fargo & Company raised their price objective on Deere & Company from $543.00 to $750.00 and gave the company an “overweight” rating in a report on Friday, February 20th. Wall Street Zen upgraded shares of Deere & Company from a “sell” rating to a “hold” rating in a research report on Saturday, February 7th. DA Davidson raised their price target on shares of Deere & Company from $580.00 to $775.00 and gave the stock a “buy” rating in a research note on Friday, February 20th. Truist Financial boosted their price target on shares of Deere & Company from $612.00 to $793.00 and gave the stock a “buy” rating in a research report on Friday, February 20th. Finally, Robert W. Baird upped their price objective on shares of Deere & Company from $467.00 to $675.00 and gave the company a “neutral” rating in a research note on Friday, February 20th. Sixteen research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Deere & Company presently has an average rating of “Moderate Buy” and a consensus price target of $644.70.

Deere & Company Stock Performance

NYSE DE opened at $572.44 on Tuesday. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.96 and a current ratio of 2.21. The stock’s fifty day moving average is $566.34 and its two-hundred day moving average is $503.71. The firm has a market capitalization of $154.62 billion, a P/E ratio of 32.27, a price-to-earnings-growth ratio of 2.02 and a beta of 0.96. Deere & Company has a fifty-two week low of $404.42 and a fifty-two week high of $674.19.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, February 19th. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.90 by $0.52. Deere & Company had a return on equity of 18.93% and a net margin of 10.29%.The business had revenue of $9.61 billion during the quarter, compared to the consensus estimate of $7.50 billion. During the same period last year, the company earned $3.19 EPS. The company’s revenue for the quarter was up 17.5% on a year-over-year basis. On average, research analysts anticipate that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 8th. Investors of record on Tuesday, March 31st will be 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 is Tuesday, March 31st. Deere & Company’s dividend payout ratio (DPR) is presently 36.53%.

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.