Deere & Company (NYSE:DE) CEO John May II Sells 11,106 Shares of Stock

Deere & Company (NYSE:DE) CEO John May II sold 11,106 shares of the stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $500.08, for a total value of $5,553,888.48. Following the completion of the transaction, the chief executive officer directly owned 112,453 shares of the company’s stock, valued at $56,235,496.24. This represents a 8.99% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Deere & Company Trading Down 5.7%

NYSE DE opened at $469.95 on Thursday. The firm has a market capitalization of $127.04 billion, a PE ratio of 24.57, a P/E/G ratio of 3.05 and a beta of 1.04. The stock’s 50 day moving average is $467.30 and its 200 day moving average is $490.94. Deere & Company has a twelve month low of $403.01 and a twelve month high of $533.78. The company has a quick ratio of 1.98, a current ratio of 2.19 and a debt-to-equity ratio of 1.76.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Wednesday, November 26th. The industrial products company reported $3.93 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.96 by ($0.03). Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The firm 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 company posted $4.55 EPS. Deere & Company’s revenue for the quarter was up 14.1% compared to the same quarter last year. Research analysts forecast that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Deere & Company

Several institutional investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in Deere & Company by 1.4% during the 2nd quarter. Vanguard Group Inc. now owns 22,372,671 shares of the industrial products company’s stock valued at $11,376,279,000 after acquiring an additional 309,081 shares during the period. State Street Corp raised its holdings in shares of Deere & Company by 0.6% during the second quarter. State Street Corp now owns 10,386,268 shares of the industrial products company’s stock valued at $5,297,913,000 after purchasing an additional 64,262 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Deere & Company by 4.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,876,013 shares of the industrial products company’s stock valued at $3,227,258,000 after purchasing an additional 286,253 shares during the period. Capital World Investors boosted its holdings in Deere & Company by 5.5% in the third quarter. Capital World Investors now owns 6,233,740 shares of the industrial products company’s stock worth $2,850,687,000 after purchasing an additional 322,582 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Deere & Company by 2.1% in the second quarter. Geode Capital Management LLC now owns 5,541,778 shares of the industrial products company’s stock worth $2,810,807,000 after purchasing an additional 111,627 shares during the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on DE. JPMorgan Chase & Co. dropped their price objective on shares of Deere & Company from $495.00 to $480.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 14th. Zacks Research downgraded Deere & Company from a “hold” rating to a “strong sell” rating in a research note on Monday, October 20th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Deere & Company in a research report on Monday. Wells Fargo & Company started coverage on Deere & Company in a report on Thursday, November 13th. They issued an “overweight” rating and a $543.00 target price on the stock. Finally, Jefferies Financial Group cut their target price on Deere & Company from $510.00 to $440.00 and set a “hold” rating on the stock in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Deere & Company has an average rating of “Moderate Buy” and an average price target of $519.85.

About Deere & Company

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.