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

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

Investors sold shares of Deere & Co. (NYSE:DE) on strength during trading on Thursday after an insider sold shares in the company. $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 companies 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 the business’s stock in a transaction that occurred on Wednesday, November 23rd. The shares were 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.75% of the stock is currently owned by corporate insiders.

A number of brokerages recently weighed in on DE. TheStreet upgraded shares of Deere & Co. from a “hold” rating to a “buy” rating in a report on Wednesday. Macquarie upgraded shares of Deere & Co. from an “underperform” rating to a “neutral” rating in a report on Friday. RBC Capital Markets boosted their price objective on shares of Deere & Co. from $80.00 to $98.00 and gave the stock a “sector perform” rating in a report on Friday. Longbow Research upgraded shares of Deere & Co. from an “underperform” rating to a “neutral” rating in a report on Friday. Finally, Royal Bank Of Canada boosted their target price on shares of Deere & Co. from $80.00 to $98.00 and gave the company a “sector perform” rating in a research note on Friday. Six analysts have rated the stock with a sell rating, eleven have given a hold rating and ten have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $86.49.

The firm has a market cap of $32.67 billion, a PE ratio of 20.83 and a beta of 0.71. The stock’s 50 day moving average is $89.32 and its 200 day moving average is $84.18.

Deere & Co. (NYSE:DE) last issued its earnings results on Wednesday, November 23rd. The company reported $0.90 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.50. Deere & Co. had a net margin of 5.92% and a return on equity of 22.73%. The firm earned $6.52 billion during the quarter. During the same period last year, the business earned $1.08 EPS. The company’s revenue for the quarter was down 4.8% on a year-over-year basis. On average, equities analysts anticipate that Deere & Co. will post $4.32 earnings per share for the current fiscal year.

The company also recently disclosed 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 dividend on an annualized basis and a yield of 2.31%. Deere & Co.’s payout ratio is 48.10%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Washington Trust Bank boosted its position in Deere & Co. by 59.0% in the second quarter. Washington Trust Bank now owns 1,240 shares of the company’s stock worth $100,000 after buying an additional 460 shares during the last quarter. Hartford Financial Management Inc. boosted its position in Deere & Co. by 5.2% in the third quarter. Hartford Financial Management Inc. now owns 1,210 shares of the company’s stock worth $103,000 after buying an additional 60 shares during the last quarter. Jolley Asset Management LLC boosted its position in Deere & Co. by 14.0% in the third quarter. Jolley Asset Management LLC now owns 1,225 shares of the company’s stock worth $105,000 after buying an additional 150 shares during the last quarter. CWM LLC boosted its position in Deere & Co. by 94.6% in the third quarter. CWM LLC now owns 1,234 shares of the company’s stock worth $105,000 after buying an additional 600 shares during the last quarter. Finally, Cornerstone Advisors Inc. boosted its position in Deere & Co. by 6.0% in the third quarter. Cornerstone Advisors Inc. now owns 1,268 shares of the company’s stock worth $108,000 after buying an additional 72 shares during the last quarter. 70.14% of the stock is owned by institutional investors.

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