Deere & Company $DE Holdings Decreased by QRG Capital Management Inc.

QRG Capital Management Inc. lessened its holdings in Deere & Company (NYSE:DE) by 60.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,659 shares of the industrial products company’s stock after selling 24,433 shares during the quarter. QRG Capital Management Inc.’s holdings in Deere & Company were worth $7,160,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Mid American Wealth Advisory Group Inc. acquired a new position in Deere & Company during the 2nd quarter valued at approximately $25,000. Howard Hughes Medical Institute acquired a new position in shares of Deere & Company during the second quarter valued at $27,000. Marshall & Sullivan Inc. WA bought a new position in shares of Deere & Company during the second quarter worth about $38,000. Center for Financial Planning Inc. increased its holdings in shares of 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 acquiring an additional 61 shares during the period. Finally, Toth Financial Advisory Corp boosted its stake in Deere & Company by 182.1% during the 2nd quarter. Toth Financial Advisory Corp now owns 79 shares of the industrial products company’s stock valued at $40,000 after purchasing an additional 51 shares during the period. 68.58% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Deere & Company

In related news, insider Cory J. Reed sold 12,000 shares of Deere & Company stock in a transaction on 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 transaction, the insider directly owned 20,792 shares in the company, valued at $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 available through this link. Also, CEO John C. May II sold 41,472 shares of the business’s stock in a transaction on 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 sale, the chief executive officer directly owned 117,970 shares in the company, valued at $59,160,775.30. This trade represents a 26.01% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 64,578 shares of company stock worth $32,471,682 in the last ninety days. 0.29% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Deere & Company in a report on Tuesday, December 9th. DA Davidson reissued a “buy” rating and issued a $580.00 price target on shares of Deere & Company in a research note on Monday, December 1st. Royal Bank Of Canada lowered their price target on Deere & Company from $542.00 to $541.00 and set an “outperform” rating on the stock in a report on Friday, November 28th. Wells Fargo & Company assumed coverage on shares of Deere & Company in a report on Thursday, November 13th. They issued an “overweight” rating and a $543.00 price objective for the company. Finally, Jefferies Financial Group increased their target price on shares of Deere & Company from $440.00 to $475.00 and gave the company a “hold” rating in a research report on Tuesday, December 9th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, Deere & Company has an average rating of “Moderate Buy” and an average price target of $524.20.

Deere & Company Trading Down 0.1%

Shares of DE stock opened at $514.62 on Friday. The stock has a 50-day simple moving average of $478.44 and a 200 day simple moving average of $481.76. The stock has a market capitalization of $139.50 billion, a P/E ratio of 27.80, a P/E/G ratio of 1.97 and a beta of 1.00. Deere & Company has a fifty-two week low of $404.42 and a fifty-two week high of $533.78. 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 issued its quarterly earnings results 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). 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 the consensus estimate of $9.77 billion. During the same quarter last year, the firm posted $4.55 earnings per share. Deere & Company’s revenue was up 14.1% compared to the same quarter last year. On average, sell-side analysts expect that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 9th. Shareholders of record on Wednesday, December 31st will be given a $1.62 dividend. The ex-dividend date is Wednesday, December 31st. This represents a $6.48 annualized dividend and a yield of 1.3%. Deere & Company’s payout ratio is 35.01%.

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.