Loomis Sayles & Co. L P Buys 292,932 Shares of Deere & Company $DE

Loomis Sayles & Co. L P lifted its stake in Deere & Company (NYSE:DE) by 26.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,386,321 shares of the industrial products company’s stock after purchasing an additional 292,932 shares during the quarter. Deere & Company accounts for approximately 0.9% of Loomis Sayles & Co. L P’s holdings, making the stock its 23rd biggest position. Loomis Sayles & Co. L P’s holdings in Deere & Company were worth $704,930,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Mid American Wealth Advisory Group Inc. bought a new position in shares of Deere & Company in the second quarter worth approximately $25,000. Activest Wealth Management boosted its stake in Deere & Company by 2,750.0% during the 1st quarter. Activest Wealth Management now owns 57 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 55 shares during the last quarter. Marshall & Sullivan Inc. WA purchased a new position in shares of Deere & Company in the second quarter worth $38,000. Livelsberger Financial Advisory purchased a new position in shares of Deere & Company in the second quarter worth $39,000. Finally, Center for Financial Planning Inc. lifted its holdings in shares of Deere & Company by 406.7% during the second quarter. Center for Financial Planning Inc. now owns 76 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 61 shares in the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Deere & Company

In other news, CEO John C. May II sold 11,106 shares of Deere & Company stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $500.08, for a total transaction of $5,553,888.48. Following the transaction, the chief executive officer directly owned 112,453 shares of the company’s stock, valued at $56,235,496.24. The trade was a 8.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.29% of the stock is owned by company insiders.

Deere & Company Trading Down 0.8%

Shares of DE stock opened at $465.95 on Friday. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.19 and a quick ratio of 1.98. The company has a market cap of $125.96 billion, a price-to-earnings ratio of 24.36, a PEG ratio of 3.05 and a beta of 1.04. Deere & Company has a 1 year low of $403.01 and a 1 year high of $533.78. The firm has a fifty day moving average price of $467.10 and a 200-day moving average price of $490.59.

Deere & Company (NYSE:DE) last announced its earnings results on Wednesday, November 26th. The industrial products company reported $3.93 EPS for the quarter, missing analysts’ consensus estimates of $3.96 by ($0.03). The company had revenue of $12.39 billion during the quarter, compared to the consensus estimate of $9.77 billion. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.Deere & Company’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same period in the prior year, the business posted $4.55 earnings per share. As a group, equities analysts predict that Deere & Company will post 19.32 earnings per share for the current year.

Analyst Upgrades and Downgrades

DE has been the subject of several research analyst reports. Jefferies Financial Group reduced their price objective on Deere & Company from $510.00 to $440.00 and set a “hold” rating for the company in a report on Wednesday, October 8th. Zacks Research lowered shares of Deere & Company from a “hold” rating to a “strong sell” rating in a research note on Monday, October 20th. Weiss Ratings reissued a “hold (c+)” rating on shares of Deere & Company in a report on Monday. Truist Financial increased their price objective on shares of Deere & Company from $609.00 to $612.00 and gave the company a “buy” rating in a research report on Friday. Finally, Royal Bank Of Canada dropped their target price on shares of Deere & Company from $542.00 to $541.00 and set an “outperform” rating on the stock in a report on Friday. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Deere & Company presently has an average rating of “Moderate Buy” and an average price target of $519.45.

Deere & Company Profile

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.