Yousif Capital Management LLC Sells 1,867 Shares of Deere & Company $DE

Yousif Capital Management LLC decreased its holdings in shares of Deere & Company (NYSE:DE) by 5.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 32,860 shares of the industrial products company’s stock after selling 1,867 shares during the quarter. Yousif Capital Management LLC’s holdings in Deere & Company were worth $15,026,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in DE. Southland Equity Partners LLC increased its position in Deere & Company by 3.9% during the 2nd quarter. Southland Equity Partners LLC now owns 534 shares of the industrial products company’s stock worth $271,000 after purchasing an additional 20 shares in the last quarter. Vivid Wealth Management LLC grew its stake in shares of Deere & Company by 1.9% during the second quarter. Vivid Wealth Management LLC now owns 1,088 shares of the industrial products company’s stock worth $553,000 after buying an additional 20 shares during the last quarter. Werba Rubin Papier Wealth Management increased its holdings in shares of Deere & Company by 3.0% during the second quarter. Werba Rubin Papier Wealth Management now owns 676 shares of the industrial products company’s stock worth $344,000 after buying an additional 20 shares in the last quarter. Prairie Wealth Advisors Inc. lifted its stake in shares of Deere & Company by 2.1% in the 2nd quarter. Prairie Wealth Advisors Inc. now owns 964 shares of the industrial products company’s stock valued at $492,000 after acquiring an additional 20 shares during the last quarter. Finally, McLean Asset Management Corp lifted its stake in shares of Deere & Company by 4.0% in the 2nd quarter. McLean Asset Management Corp now owns 544 shares of the industrial products company’s stock valued at $283,000 after acquiring an additional 21 shares during the last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO John C. May II sold 11,106 shares of Deere & Company stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $500.08, for a total transaction of $5,553,888.48. Following the completion of the transaction, 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 filing with the Securities & Exchange Commission, which is available at the SEC website. 0.29% of the stock is owned by corporate insiders.

Deere & Company Price Performance

Shares of DE opened at $468.91 on Tuesday. Deere & Company has a 1 year low of $403.01 and a 1 year high of $533.78. The company has a debt-to-equity ratio of 1.68, a current ratio of 2.22 and a quick ratio of 2.01. The company has a market capitalization of $126.82 billion, a price-to-earnings ratio of 25.33, a price-to-earnings-growth ratio of 1.76 and a beta of 1.00. The business has a 50-day moving average of $471.98 and a 200-day moving average of $486.14.

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 the consensus estimate 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 net margin of 11.00% and a return on equity of 20.54%. The business’s revenue was up 14.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $4.55 earnings per share. As a group, equities research analysts anticipate that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 9th. Stockholders of record on Wednesday, December 31st will be given a dividend of $1.62 per share. The ex-dividend date is Wednesday, December 31st. This represents a $6.48 annualized dividend and a dividend yield of 1.4%. Deere & Company’s dividend payout ratio is 35.01%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on DE shares. UBS Group restated a “buy” rating on shares of Deere & Company in a research report on Tuesday, November 25th. Morgan Stanley reissued an “overweight” rating and set a $560.00 price target on shares of Deere & Company in a research note on Tuesday, December 9th. Evercore ISI reaffirmed a “positive” rating on shares of Deere & Company in a research note on Friday, November 28th. Jefferies Financial Group lifted their target price on shares of Deere & Company from $440.00 to $475.00 and gave the stock a “hold” rating in a research report on Tuesday, December 9th. Finally, Royal Bank Of Canada reduced 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, November 28th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $522.70.

About Deere & Company

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.