Deere & Company (NYSE:DE) Shares Sold by Covea Finance

Covea Finance cut its holdings in shares of Deere & Company (NYSE:DE) by 16.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 77,509 shares of the industrial products company’s stock after selling 15,030 shares during the period. Deere & Company makes up about 1.7% of Covea Finance’s investment portfolio, making the stock its 17th largest holding. Covea Finance’s holdings in Deere & Company were worth $31,406,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in DE. University of Texas Texas AM Investment Managment Co. lifted its position in shares of Deere & Company by 1,475.0% during the 1st quarter. University of Texas Texas AM Investment Managment Co. now owns 63 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 59 shares during the last quarter. Lansing Street Advisors lifted its position in shares of Deere & Company by 1,725.0% during the 1st quarter. Lansing Street Advisors now owns 73 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 69 shares during the last quarter. Barrett & Company Inc. acquired a new stake in shares of Deere & Company during the 1st quarter valued at $31,000. Worth Asset Management LLC acquired a new stake in shares of Deere & Company during the 1st quarter valued at $28,000. Finally, 25 LLC acquired a new stake in shares of Deere & Company during the 1st quarter valued at $34,000. 66.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO John C. May II sold 52,967 shares of the company’s stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $416.02, for a total value of $22,035,331.34. Following the completion of the sale, the chief executive officer now directly owns 109,126 shares of the company’s stock, valued at approximately $45,398,598.52. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, insider Cory J. Reed sold 4,680 shares of the business’s stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $449.75, for a total value of $2,104,830.00. Following the completion of the transaction, the insider now directly owns 36,563 shares in the company, valued at approximately $16,444,209.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO John C. May II sold 52,967 shares of the business’s stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $416.02, for a total value of $22,035,331.34. Following the completion of the transaction, the chief executive officer now owns 109,126 shares of the company’s stock, valued at $45,398,598.52. The disclosure for this sale can be found here. 0.26% of the stock is owned by corporate insiders.

Deere & Company Stock Performance

DE traded up $2.16 during trading on Friday, reaching $413.84. 335,600 shares of the company’s stock were exchanged, compared to its average volume of 1,594,473. Deere & Company has a fifty-two week low of $328.62 and a fifty-two week high of $450.00. The company has a quick ratio of 1.74, a current ratio of 1.98 and a debt-to-equity ratio of 1.65. The business has a 50 day moving average price of $417.46 and a 200 day moving average price of $399.13. The company has a market capitalization of $119.19 billion, a P/E ratio of 12.17, a PEG ratio of 0.91 and a beta of 1.07.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Friday, August 18th. The industrial products company reported $10.20 earnings per share for the quarter, topping analysts’ consensus estimates of $8.22 by $1.98. Deere & Company had a net margin of 16.36% and a return on equity of 46.15%. The firm had revenue of $14.28 billion for the quarter, compared to the consensus estimate of $14.14 billion. During the same quarter in the previous year, the company earned $6.16 earnings per share. The business’s revenue was up 9.9% compared to the same quarter last year. As a group, analysts predict that Deere & Company will post 33.9 earnings per share for the current fiscal year.

Deere & Company Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 8th. Investors of record on Friday, September 29th will be given a dividend of $1.35 per share. This is an increase from Deere & Company’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $5.40 annualized dividend and a yield of 1.30%. Deere & Company’s dividend payout ratio is 14.78%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Credit Suisse Group dropped their price target on Deere & Company from $560.00 to $551.00 and set an “outperform” rating on the stock in a research report on Monday, August 21st. Wells Fargo & Company reduced their price target on shares of Deere & Company from $510.00 to $490.00 in a research report on Monday, May 22nd. Oppenheimer decreased their price target on shares of Deere & Company from $467.00 to $458.00 and set an “outperform” rating for the company in a report on Monday, August 21st. UBS Group raised their price target on shares of Deere & Company from $383.00 to $408.00 and gave the stock a “neutral” rating in a report on Monday, August 21st. Finally, Robert W. Baird decreased their price target on shares of Deere & Company from $512.00 to $445.00 in a report on Monday, May 22nd. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $459.90.

Deere & Company Company Profile

Deere & Company manufactures and distributes various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides mid-size tractors, combines, cotton pickers and strippers, sugarcane harvesters, harvesting front-end equipment, sugarcane loaders, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.