Sepio Capital LP Increases Holdings in Deere & Company $DE

Sepio Capital LP lifted its stake in shares of Deere & Company (NYSE:DE) by 75.0% during the second quarter, HoldingsChannel.com reports. The firm owned 2,753 shares of the industrial products company’s stock after purchasing an additional 1,180 shares during the quarter. Sepio Capital LP’s holdings in Deere & Company were worth $1,400,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in DE. OLD National Bancorp IN grew its stake in Deere & Company by 2.6% during the second quarter. OLD National Bancorp IN now owns 24,000 shares of the industrial products company’s stock valued at $12,204,000 after acquiring an additional 610 shares in the last quarter. Providence Capital Advisors LLC raised its holdings in shares of Deere & Company by 2.1% in the 1st quarter. Providence Capital Advisors LLC now owns 14,639 shares of the industrial products company’s stock valued at $6,871,000 after acquiring an additional 303 shares in the last quarter. Bragg Financial Advisors Inc lifted its position in Deere & Company by 12.7% during the first quarter. Bragg Financial Advisors Inc now owns 7,213 shares of the industrial products company’s stock valued at $3,386,000 after purchasing an additional 813 shares during the last quarter. ASR Vermogensbeheer N.V. bought a new stake in shares of Deere & Company during the 1st quarter worth $13,588,000. Finally, United Asset Strategies Inc. purchased a new position in Deere & Company in the first quarter worth $2,496,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Down 0.8%

DE opened at $465.95 on Monday. Deere & Company has a 12 month low of $403.01 and a 12 month high of $533.78. The company has a current ratio of 2.19, a quick ratio of 1.98 and a debt-to-equity ratio of 1.76. The business’s 50-day moving average price is $467.10 and its 200-day moving average price is $490.48. The company has a market cap of $125.96 billion, a P/E ratio of 24.36, a P/E/G ratio of 3.05 and a beta of 1.04.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Wednesday, November 26th. The industrial products company reported $3.93 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.96 by ($0.03). The company had revenue of $12.39 billion for 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 was up 14.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.55 earnings per share. On average, equities analysts expect that Deere & Company will post 19.32 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have weighed in on DE. Truist Financial raised their price target on Deere & Company from $609.00 to $612.00 and gave the company a “buy” rating in a research report on Friday. Wells Fargo & Company initiated coverage on Deere & Company in a research report on Thursday, November 13th. They set an “overweight” rating and a $543.00 price objective on the stock. Daiwa Capital Markets decreased their price objective on Deere & Company from $565.00 to $530.00 and set an “outperform” rating on the stock in a report on Thursday, September 25th. Wall Street Zen lowered Deere & Company from a “hold” rating to a “sell” rating in a research note on Friday. Finally, Wolfe Research decreased their price target on shares of Deere & Company from $550.00 to $520.00 and set an “outperform” rating on the stock in a research note on Friday, October 3rd. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $519.45.

Insider Buying and Selling at Deere & Company

In related news, CEO John C. May II sold 11,106 shares of the firm’s stock in a transaction 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 sale, the chief executive officer owned 112,453 shares of the company’s stock, valued at $56,235,496.24. This trade represents a 8.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.29% of the company’s stock.

Deere & Company 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.