Traders Buy Shares of Deere & Company (DE) on Weakness

Traders bought shares of Deere & Company (NYSE:DE) on weakness during trading hours on Thursday. $53.15 million flowed into the stock on the tick-up and $35.90 million flowed out of the stock on the tick-down, for a money net flow of $17.25 million into the stock. Of all companies tracked, Deere & Company had the 27th highest net in-flow for the day. Deere & Company traded down ($0.28) for the day and closed at $157.70

Several equities analysts recently weighed in on DE shares. ValuEngine upgraded Deere & Company from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Deutsche Bank reissued a “hold” rating and set a $129.00 price objective (down from $135.00) on shares of Deere & Company in a research note on Monday, October 9th. Robert W. Baird reissued a “hold” rating and set a $140.00 price objective on shares of Deere & Company in a research note on Thursday, October 12th. BMO Capital Markets restated a “buy” rating and set a $150.00 target price on shares of Deere & Company in a research report on Thursday, November 2nd. Finally, Zacks Investment Research upgraded Deere & Company from a “hold” rating to a “buy” rating and set a $150.00 target price for the company in a research report on Thursday, November 2nd. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and thirteen have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $143.68.

The stock has a market capitalization of $50,873.23, a PE ratio of 23.75, a PEG ratio of 2.42 and a beta of 0.77. The company has a debt-to-equity ratio of 2.71, a current ratio of 2.12 and a quick ratio of 1.95.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Wednesday, November 22nd. The industrial products company reported $1.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.47 by $0.10. The business had revenue of $7.09 billion for the quarter, compared to the consensus estimate of $6.91 billion. Deere & Company had a return on equity of 26.31% and a net margin of 7.22%. The business’s quarterly revenue was up 25.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.90 earnings per share. sell-side analysts forecast that Deere & Company will post 7.94 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders of record on Friday, December 29th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date of this dividend is Thursday, December 28th. Deere & Company’s payout ratio is presently 36.14%.

In related news, insider John C. May II sold 22,095 shares of the company’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $127.04, for a total value of $2,806,948.80. Following the transaction, the insider now directly owns 51,429 shares of the company’s stock, valued at approximately $6,533,540.16. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Rajesh Kalathur sold 4,519 shares of the company’s stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $148.92, for a total value of $672,969.48. Following the completion of the transaction, the chief financial officer now directly owns 36,288 shares in the company, valued at $5,404,008.96. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 224,642 shares of company stock worth $31,335,834. Insiders own 0.85% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. QCI Asset Management Inc. NY boosted its holdings in Deere & Company by 18.8% in the second quarter. QCI Asset Management Inc. NY now owns 950 shares of the industrial products company’s stock valued at $117,000 after purchasing an additional 150 shares during the last quarter. Arrow Financial Corp boosted its holdings in Deere & Company by 5.2% in the second quarter. Arrow Financial Corp now owns 1,010 shares of the industrial products company’s stock valued at $125,000 after purchasing an additional 50 shares during the last quarter. Wealthcare Advisory Partners LLC purchased a new stake in Deere & Company in the third quarter valued at $144,000. Harfst & Associates Inc. boosted its holdings in Deere & Company by 44.2% in the second quarter. Harfst & Associates Inc. now owns 1,175 shares of the industrial products company’s stock valued at $145,000 after purchasing an additional 360 shares during the last quarter. Finally, YorkBridge Wealth Partners LLC boosted its stake in shares of Deere & Company by 1.1% during the 2nd quarter. YorkBridge Wealth Partners LLC now owns 1,236 shares of the industrial products company’s stock worth $154,000 after acquiring an additional 13 shares in the last quarter. 67.36% of the stock is currently owned by hedge funds and other institutional investors.

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Deere & Company Company Profile

Deere & Company is engaged in equipment operations. The Company is engaged in providing financial services. The Company operates through three business segments: agriculture and turf, construction and forestry, and financial services. The agriculture and turf segment manufactures and distributes a line of agriculture and turf equipment and related service parts.

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