Trade Report: Today, Traders Sell Deere & Co. (DE) on Strength on Insider Selling

Today, Traders Sell Deere & Co. (DE) on Strength on Insider Selling

Traders sold shares of Deere & Co. (NYSE:DE) on strength during trading on Wednesday following insider selling activity. $424.03 million flowed into the stock on the tick-up and $480.09 million flowed out of the stock on the tick-down, for a money net flow of $56.06 million out of the stock. Of all stocks tracked, Deere & Co. had the 0th highest net out-flow for the day. Deere & Co. traded up $10.16 for the day and closed at $102.17Specifically, insider John C. May II sold 18,614 shares of Deere & Co. stock in a transaction on Wednesday, November 23rd. The shares were sold at an average price of $96.46, for a total transaction of $1,795,506.44. Following the completion of the transaction, the insider now directly owns 28,926 shares of the company’s stock, valued at $2,790,201.96. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.75% of the stock is currently owned by corporate insiders.

A number of equities analysts have commented on DE shares. Wells Fargo & Co. raised shares of Deere & Co. from a “market perform” rating to an “outperform” rating in a research report on Monday, October 10th. Clarkson Capital raised Deere & Co. from a “neutral” rating to a “buy” rating in a report on Tuesday, October 18th. Barclays PLC lifted their target price on Deere & Co. from $63.00 to $68.00 and gave the stock an “underweight” rating in a report on Wednesday, October 12th. Argus lifted their target price on Deere & Co. from $90.00 to $98.00 and gave the stock a “buy” rating in a report on Tuesday, August 23rd. Finally, Jefferies Group dropped their target price on Deere & Co. from $90.00 to $85.00 and set a “hold” rating for the company in a report on Thursday, August 25th. Eight research analysts have rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $84.60.

The company has a market cap of $32.12 billion, a price-to-earnings ratio of 20.47 and a beta of 0.71. The company’s 50 day moving average is $88.69 and its 200 day moving average is $84.01.

Deere & Co. (NYSE:DE) last released its quarterly earnings results on Wednesday, November 23rd. The company reported $0.90 earnings per share for the quarter, beating the 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 firm had revenue of $6.52 billion for the quarter, compared to analysts’ expectations of $5.36 billion. During the same quarter last year, the firm posted $1.08 EPS. The company’s revenue was down 4.8% compared to the same quarter last year. On average, equities analysts predict that Deere & Co. will post $4.32 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 1st. Shareholders of record on Friday, September 30th were issued a $0.60 dividend. The ex-dividend date of this dividend was Wednesday, September 28th. This represents a $2.40 annualized dividend and a dividend yield of 2.35%. Deere & Co.’s payout ratio is currently 48.10%.

Several hedge funds have recently added to or reduced their stakes in DE. Rehmann Capital Advisory Group boosted its stake in Deere & Co. by 0.3% in the second quarter. Rehmann Capital Advisory Group now owns 2,693 shares of the company’s stock valued at $218,000 after buying an additional 8 shares during the last quarter. Signaturefd LLC boosted its stake in Deere & Co. by 1.3% in the second quarter. Signaturefd LLC now owns 1,610 shares of the company’s stock valued at $130,000 after buying an additional 21 shares during the last quarter. FineMark National Bank & Trust boosted its stake in Deere & Co. by 1.8% in the second quarter. FineMark National Bank & Trust now owns 1,451 shares of the company’s stock valued at $118,000 after buying an additional 26 shares during the last quarter. Capital Investment Advisors LLC boosted its position in shares of Deere & Co. by 0.8% in the third quarter. Capital Investment Advisors LLC now owns 3,317 shares of the company’s stock worth $283,000 after buying an additional 27 shares in the last quarter. Finally, Pacific Global Investment Management CO boosted its position in shares of Deere & Co. by 0.3% in the second quarter. Pacific Global Investment Management CO now owns 9,468 shares of the company’s stock worth $767,000 after buying an additional 31 shares in the last quarter. 70.14% of the stock is currently owned by hedge funds and other institutional investors.

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