Rhumbline Advisers Acquires 5,149 Shares of Deere & Company $DE

Rhumbline Advisers lifted its stake in Deere & Company (NYSE:DE) by 1.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 472,079 shares of the industrial products company’s stock after acquiring an additional 5,149 shares during the period. Rhumbline Advisers owned 0.17% of Deere & Company worth $215,863,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Mid American Wealth Advisory Group Inc. acquired a new stake in shares of Deere & Company in the second quarter worth $25,000. Howard Hughes Medical Institute acquired a new position in Deere & Company during the second quarter worth $27,000. Activest Wealth Management raised its position in shares of Deere & Company by 69.2% during the 3rd quarter. Activest Wealth Management now owns 66 shares of the industrial products company’s stock valued at $30,000 after buying an additional 27 shares during the period. Center for Financial Planning Inc. lifted its position in Deere & Company by 406.7% in the second quarter. Center for Financial Planning Inc. now owns 76 shares of the industrial products company’s stock valued at $39,000 after buying an additional 61 shares during the last quarter. Finally, Soundwatch Capital LLC purchased a new position in shares of Deere & Company during the second quarter worth $41,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

DE has been the subject of several recent research reports. Truist Financial lifted their price objective on Deere & Company from $609.00 to $612.00 and gave the company a “buy” rating in a research note on Friday, November 28th. Oppenheimer upped their price objective on Deere & Company from $512.00 to $531.00 and gave the stock an “outperform” rating in a report on Friday, November 28th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Deere & Company in a report on Monday, December 29th. Wolfe Research raised their price objective on Deere & Company from $520.00 to $550.00 and gave the stock an “outperform” rating in a report on Friday, January 2nd. Finally, Jefferies Financial Group raised their price target on shares of Deere & Company from $440.00 to $475.00 and gave the company a “hold” rating in a report on Tuesday, December 9th. Fifteen equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $524.20.

Deere & Company Stock Up 1.3%

Shares of Deere & Company stock opened at $593.11 on Wednesday. Deere & Company has a 12-month low of $404.42 and a 12-month high of $593.76. The stock’s fifty day moving average is $500.08 and its 200-day moving average is $485.13. The firm has a market capitalization of $160.77 billion, a PE ratio of 32.04, a price-to-earnings-growth ratio of 2.34 and a beta of 1.02. The company has a quick ratio of 2.01, a current ratio of 2.22 and a debt-to-equity ratio of 1.68.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Wednesday, November 26th. The industrial products company reported $3.93 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.96 by ($0.03). Deere & Company had a return on equity of 20.54% and a net margin of 11.00%.The business had revenue of $12.39 billion during the quarter, compared to analysts’ expectations of $9.77 billion. During the same period in the prior year, the company posted $4.55 earnings per share. The firm’s revenue was up 14.1% on a year-over-year basis. Equities analysts anticipate that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

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

Insider Activity

In other news, insider Cory J. Reed sold 12,000 shares of the 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 transaction, the insider owned 20,792 shares of the company’s stock, valued at approximately $10,603,920. This represents a 36.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO John C. May II sold 41,472 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer owned 117,970 shares in the company, valued at approximately $59,160,775.30. This trade represents a 26.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 64,578 shares of company stock valued at $32,471,682. 0.29% of the stock is owned by corporate insiders.

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.