Deere & Co. (NYSE:DE) insider John C. May II sold 18,614 shares of the business’s stock in a transaction on Wednesday, November 23rd. The stock was sold at an average price of $96.46, for a total value of $1,795,506.44. Following the completion of the transaction, the insider now directly owns 28,926 shares in the company, valued at approximately $2,790,201.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of Deere & Co. (NYSE:DE) opened at 102.17 on Friday. Deere & Co. has a 12-month low of $70.16 and a 12-month high of $102.50. The firm has a 50-day moving average price of $88.69 and a 200 day moving average price of $84.01. The stock has a market cap of $32.12 billion, a PE ratio of 20.47 and a beta of 0.71.
Deere & Co. (NYSE:DE) last announced its quarterly earnings data on Wednesday, November 23rd. The company reported $0.90 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.50. Deere & Co. had a return on equity of 22.73% and a net margin of 5.92%. The business had revenue of $6.52 billion for the quarter, compared to the consensus estimate of $5.36 billion. During the same period in the previous year, the business earned $1.08 earnings per share. The business’s revenue was down 4.8% on a year-over-year basis. Equities research analysts expect that Deere & Co. will post $4.32 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 1st. Stockholders of record on Friday, September 30th were given a $0.60 dividend. The ex-dividend date was Wednesday, September 28th. This represents a $2.40 annualized dividend and a dividend yield of 2.35%. Deere & Co.’s payout ratio is 48.10%.
DE has been the topic of a number of recent research reports. Vetr raised Deere & Co. from a “hold” rating to a “buy” rating and set a $80.57 price target on the stock in a research report on Monday, August 15th. BMO Capital Markets reaffirmed an “outperform” rating and set a $96.00 price target on shares of Deere & Co. in a research report on Thursday, August 18th. Jefferies Group reaffirmed a “hold” rating and set a $70.00 price target on shares of Deere & Co. in a research report on Friday, August 19th. Morgan Stanley upped their price target on Deere & Co. from $70.00 to $76.00 and gave the company an “underweight” rating in a research report on Monday, August 22nd. Finally, Barclays PLC reaffirmed an “underweight” rating and set a $63.00 price target on shares of Deere & Co. in a research report on Monday, August 22nd. Eight investment analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the stock. Deere & Co. currently has an average rating of “Hold” and a consensus target price of $84.60.
Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in Deere & Co. by 1.5% in the second quarter. Vanguard Group Inc. now owns 17,767,247 shares of the company’s stock worth $1,439,858,000 after buying an additional 265,118 shares in the last quarter. FMR LLC increased its stake in Deere & Co. by 37.2% in the second quarter. FMR LLC now owns 9,139,259 shares of the company’s stock worth $740,647,000 after buying an additional 2,477,175 shares in the last quarter. Generation Investment Management LLP increased its stake in Deere & Co. by 12.8% in the third quarter. Generation Investment Management LLP now owns 6,838,253 shares of the company’s stock worth $583,645,000 after buying an additional 775,827 shares in the last quarter. First Eagle Investment Management LLC increased its stake in Deere & Co. by 20.4% in the third quarter. First Eagle Investment Management LLC now owns 6,325,129 shares of the company’s stock worth $539,850,000 after buying an additional 1,072,390 shares in the last quarter. Finally, Primecap Management Co. CA increased its stake in Deere & Co. by 3.1% in the second quarter. Primecap Management Co. CA now owns 5,451,419 shares of the company’s stock worth $441,783,000 after buying an additional 164,900 shares in the last quarter. Institutional investors and hedge funds own 70.14% of the company’s stock.
About Deere & Co.