First Trust Advisors LP Purchases 24,373 Shares of Deere & Company $DE

First Trust Advisors LP increased its position in shares of Deere & Company (NYSE:DE) by 20.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 142,516 shares of the industrial products company’s stock after purchasing an additional 24,373 shares during the quarter. First Trust Advisors LP’s holdings in Deere & Company were worth $65,167,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Howard Hughes Medical Institute bought a new position in shares of Deere & Company during the 2nd quarter worth approximately $27,000. Activest Wealth Management boosted its stake in shares of 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 buying an additional 27 shares during the last quarter. Soundwatch Capital LLC bought a new position in shares of Deere & Company in the second quarter valued at approximately $41,000. United Community Bank grew its holdings in shares of Deere & Company by 67.3% in the third quarter. United Community Bank now owns 92 shares of the industrial products company’s stock valued at $42,000 after acquiring an additional 37 shares in the last quarter. Finally, Lynch Asset Management Inc. purchased a new stake in shares of Deere & Company during the third quarter valued at approximately $46,000. 68.58% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Bank of America lifted their price target on Deere & Company from $502.00 to $672.00 and gave the stock a “neutral” rating in a report on Friday, February 20th. Royal Bank Of Canada raised their target price on Deere & Company from $541.00 to $736.00 and gave the company an “outperform” rating in a research report on Friday, February 20th. Zacks Research upgraded Deere & Company from a “strong sell” rating to a “hold” rating in a research note on Wednesday, December 3rd. Morgan Stanley boosted their price target on shares of Deere & Company from $560.00 to $730.00 and gave the stock an “overweight” rating in a report on Monday, February 23rd. Finally, Evercore restated a “positive” rating on shares of Deere & Company in a research report on Friday, November 28th. Sixteen analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $644.70.

Deere & Company Price Performance

Shares of NYSE DE opened at $592.69 on Wednesday. The company has a current ratio of 2.21, a quick ratio of 1.96 and a debt-to-equity ratio of 1.59. The stock has a fifty day simple moving average of $557.00 and a two-hundred day simple moving average of $501.12. Deere & Company has a 1-year low of $404.42 and a 1-year high of $674.19. The firm has a market cap of $160.09 billion, a price-to-earnings ratio of 33.41, a price-to-earnings-growth ratio of 2.11 and a beta of 0.96.

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, beating the consensus estimate of $1.90 by $0.52. Deere & Company had a return on equity of 18.93% and a net margin of 10.29%.The firm had revenue of $9.61 billion for the quarter, compared to analyst estimates of $7.50 billion. During the same period in the previous year, the company posted $3.19 earnings per share. The business’s revenue was up 17.5% on a year-over-year basis. 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 issued a $1.62 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $6.48 annualized dividend and a yield of 1.1%. Deere & Company’s dividend payout ratio (DPR) is 36.53%.

Insider Transactions at Deere & Company

In related news, insider Cory J. Reed sold 12,000 shares of the business’s stock in a transaction dated Wednesday, January 14th. The stock was sold at an average price of $510.00, for a total value of $6,120,000.00. Following the sale, the insider directly owned 20,792 shares in the company, valued at approximately $10,603,920. The trade was a 36.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO John C. May II sold 41,472 shares of the company’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 sale, the chief executive officer directly owned 117,970 shares in the company, valued at approximately $59,160,775.30. This trade represents a 26.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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.