Greenleaf Trust Sells 8,160 Shares of Deere & Company $DE

Greenleaf Trust reduced its holdings in shares of Deere & Company (NYSE:DE) by 48.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,638 shares of the industrial products company’s stock after selling 8,160 shares during the quarter. Greenleaf Trust’s holdings in Deere & Company were worth $3,950,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. The Manufacturers Life Insurance Company grew its stake in Deere & Company by 30.6% in the second quarter. The Manufacturers Life Insurance Company now owns 364,103 shares of the industrial products company’s stock valued at $185,143,000 after purchasing an additional 85,351 shares in the last quarter. OLD National Bancorp IN boosted its holdings in shares of Deere & Company by 2.6% in the 2nd quarter. OLD National Bancorp IN now owns 24,000 shares of the industrial products company’s stock valued at $12,204,000 after buying an additional 610 shares during the last quarter. Mesirow Financial Investment Management Inc. grew its stake in shares of Deere & Company by 1.0% in the second quarter. Mesirow Financial Investment Management Inc. now owns 4,678 shares of the industrial products company’s stock valued at $2,379,000 after buying an additional 45 shares in the last quarter. MASTERINVEST Kapitalanlage GmbH acquired a new position in Deere & Company during the second quarter worth $3,615,000. Finally, WINTON GROUP Ltd acquired a new stake in Deere & Company in the second quarter valued at $4,550,000. Institutional investors own 68.58% of the company’s stock.

Insider Buying and Selling

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

Analysts Set New Price Targets

DE has been the topic of several recent analyst reports. Wall Street Zen lowered shares of Deere & Company from a “hold” rating to a “sell” rating in a research note on Friday, November 28th. Truist Financial lifted their price target on Deere & Company from $609.00 to $612.00 and gave the stock a “buy” rating in a report on Friday, November 28th. DA Davidson restated a “buy” rating and issued a $580.00 price objective on shares of Deere & Company in a research note on Monday, December 1st. UBS Group reaffirmed a “buy” rating on shares of Deere & Company in a research report on Tuesday, November 25th. Finally, Wells Fargo & Company initiated coverage on Deere & Company in a report on Thursday, November 13th. They set an “overweight” rating and a $543.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $524.20.

Deere & Company Trading Down 0.2%

Shares of NYSE:DE opened at $465.89 on Tuesday. Deere & Company has a 12-month low of $403.01 and a 12-month high of $533.78. The business has a 50 day moving average of $473.09 and a 200-day moving average of $482.42. The company has a quick ratio of 2.01, a current ratio of 2.22 and a debt-to-equity ratio of 1.68. The stock has a market cap of $126.00 billion, a PE ratio of 25.17, a P/E/G ratio of 1.79 and a beta of 1.00.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Wednesday, November 26th. The industrial products company reported $3.93 earnings per share for the quarter, missing the consensus estimate of $3.96 by ($0.03). The firm had revenue of $12.39 billion for the quarter, compared to analyst estimates of $9.77 billion. Deere & Company had a return on equity of 20.54% and a net margin of 11.00%.The business’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same period in the previous year, the business posted $4.55 earnings per share. As a group, equities research analysts forecast that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 9th. Investors of record on Wednesday, December 31st will be paid a $1.62 dividend. 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%.

Deere & Company Company Profile

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.