Finemark National Bank & Trust Sells 6,501 Shares of Deere & Company $DE

Finemark National Bank & Trust decreased its position in Deere & Company (NYSE:DE) by 69.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,898 shares of the industrial products company’s stock after selling 6,501 shares during the period. Finemark National Bank & Trust’s holdings in Deere & Company were worth $1,325,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Howard Hughes Medical Institute bought a new position in Deere & Company in the second quarter worth $27,000. Activest Wealth Management raised its stake in shares of Deere & Company by 69.2% in the 3rd quarter. Activest Wealth Management now owns 66 shares of the industrial products company’s stock valued at $30,000 after buying an additional 27 shares in the last quarter. Center for Financial Planning Inc. lifted its holdings in shares of Deere & Company by 406.7% during the 2nd quarter. Center for Financial Planning Inc. now owns 76 shares of the industrial products company’s stock worth $39,000 after acquiring an additional 61 shares during the period. Soundwatch Capital LLC acquired a new stake in shares of Deere & Company during the 2nd quarter valued at about $41,000. Finally, United Community Bank increased its stake in Deere & Company by 67.3% in the third quarter. United Community Bank now owns 92 shares of the industrial products company’s stock valued at $42,000 after acquiring an additional 37 shares during the period. Institutional investors and hedge funds own 68.58% of the company’s stock.

Insider Activity

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 transaction of $6,120,000.00. Following the sale, the insider directly owned 20,792 shares of the company’s stock, valued at $10,603,920. This represents a 36.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 completion of the sale, the chief executive officer directly owned 117,970 shares of the company’s stock, valued at approximately $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. Company insiders own 0.29% of the company’s stock.

Deere & Company Trading Up 1.6%

Shares of DE opened at $629.32 on Monday. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.96 and a current ratio of 2.21. The company has a market cap of $169.99 billion, a price-to-earnings ratio of 35.47, a PEG ratio of 2.22 and a beta of 0.96. The stock has a fifty day moving average price of $537.84 and a two-hundred day moving average price of $495.39. Deere & Company has a 52-week low of $404.42 and a 52-week high of $674.19.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, February 19th. The industrial products company reported $2.42 EPS for the quarter, topping the consensus estimate of $1.90 by $0.52. Deere & Company had a return on equity of 18.93% and a net margin of 10.29%.The company had revenue of $9.61 billion for the quarter, compared to analysts’ expectations of $7.50 billion. During the same quarter in the prior year, the business earned $3.19 earnings per share. The business’s revenue for the quarter was up 17.5% on a year-over-year basis. Analysts predict that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 8th. Shareholders of record on Tuesday, March 31st will be issued a dividend of $1.62 per share. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $6.48 dividend on an annualized basis and a yield of 1.0%. Deere & Company’s dividend payout ratio is currently 36.53%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on DE shares. Zacks Research upgraded shares of Deere & Company from a “strong sell” rating to a “hold” rating in a research note on Wednesday, December 3rd. Wolfe Research increased their target price on Deere & Company from $520.00 to $550.00 and gave the stock an “outperform” rating in a report on Friday, January 2nd. Citigroup boosted their price target on Deere & Company from $515.00 to $675.00 and gave the company a “neutral” rating in a research note on Monday, February 23rd. UBS Group upped their price target on Deere & Company from $535.00 to $775.00 and gave the company a “buy” rating in a research report on Friday, February 20th. Finally, Wells Fargo & Company lifted their price objective on Deere & Company from $543.00 to $750.00 and gave the company an “overweight” rating in a report on Friday, February 20th. Fifteen investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Deere & Company currently has a consensus rating of “Moderate Buy” and a consensus target price of $637.70.

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.