Deere & Company $DE Shares Sold by ProShare Advisors LLC

ProShare Advisors LLC cut its position in shares of Deere & Company (NYSE:DE) by 2.3% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 42,679 shares of the industrial products company’s stock after selling 1,023 shares during the period. ProShare Advisors LLC’s holdings in Deere & Company were worth $19,515,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in the business. Norges Bank bought a new position in shares of Deere & Company in the 2nd quarter worth about $1,578,243,000. Marshall Wace LLP raised its stake in Deere & Company by 573.9% during the second quarter. Marshall Wace LLP now owns 842,882 shares of the industrial products company’s stock worth $428,597,000 after acquiring an additional 717,808 shares during the period. TD Asset Management Inc lifted its holdings in Deere & Company by 132.0% in the second quarter. TD Asset Management Inc now owns 721,638 shares of the industrial products company’s stock worth $366,946,000 after acquiring an additional 410,636 shares during the last quarter. Laurel Wealth Advisors LLC lifted its holdings in Deere & Company by 50,691.9% in the second quarter. Laurel Wealth Advisors LLC now owns 332,179 shares of the industrial products company’s stock worth $168,910,000 after acquiring an additional 331,525 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in Deere & Company by 1.4% in the second quarter. Vanguard Group Inc. now owns 22,372,671 shares of the industrial products company’s stock valued at $11,376,279,000 after acquiring an additional 309,081 shares during the period. Institutional investors own 68.58% of the company’s stock.

Deere & Company Trading Up 1.3%

Shares of DE stock opened at $593.11 on Wednesday. Deere & Company has a 1 year low of $404.42 and a 1 year high of $593.76. The firm has a market capitalization of $160.77 billion, a PE ratio of 32.04, a price-to-earnings-growth ratio of 2.34 and a beta of 1.02. The stock has a fifty day moving average of $500.08 and a two-hundred day moving average of $485.13. The company has a debt-to-equity ratio of 1.68, a quick ratio of 2.01 and a current ratio of 2.22.

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

Deere & Company Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 9th. Shareholders of record on Wednesday, December 31st were given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Wednesday, December 31st. Deere & Company’s payout ratio is 35.01%.

Analysts Set New Price Targets

Several analysts recently issued reports on DE shares. Royal Bank Of Canada cut their price target on Deere & Company from $542.00 to $541.00 and set an “outperform” rating on the stock in a report on Friday, November 28th. Truist Financial increased their target price on Deere & Company from $609.00 to $612.00 and gave the stock a “buy” rating in a research report on Friday, November 28th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Deere & Company in a research note on Monday, December 29th. Keefe, Bruyette & Woods restated an “outperform” rating on shares of Deere & Company in a research report on Monday, December 1st. Finally, UBS Group reaffirmed a “buy” rating on shares of Deere & Company in a report on Tuesday, November 25th. Fifteen equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $524.20.

Insider Buying and Selling

In other news, insider Cory J. Reed sold 12,000 shares of the stock in a transaction that occurred on Wednesday, January 14th. The shares were sold at an average price of $510.00, for a total value of $6,120,000.00. Following the completion of the transaction, the insider directly owned 20,792 shares in the company, valued at $10,603,920. This trade represents a 36.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO John C. May II sold 41,472 shares of the firm’s stock in a transaction that occurred on Thursday, January 8th. The shares were sold at an average price of $501.49, for a total transaction of $20,797,793.28. Following the transaction, the chief executive officer owned 117,970 shares in the company, valued at $59,160,775.30. This represents a 26.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 64,578 shares of company stock valued at $32,471,682. Company insiders own 0.29% of the company’s stock.

Deere & 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.