Deere & Company (NYSE:DE) Shares Sold by VeraBank N.A.

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VeraBank N.A. cut its holdings in shares of Deere & Company (NYSE:DE) by 2.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,215 shares of the industrial products company’s stock after selling 120 shares during the period. VeraBank N.A.’s holdings in Deere & Company were worth $880,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. SRS Capital Advisors Inc. purchased a new position in Deere & Company in the second quarter valued at $28,000. Arcus Capital Partners LLC purchased a new stake in shares of Deere & Company during the second quarter worth about $33,000. Orrstown Financial Services Inc. increased its stake in shares of Deere & Company by 116.0% during the second quarter. Orrstown Financial Services Inc. now owns 216 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 116 shares in the last quarter. Nelson Roberts Investment Advisors LLC increased its stake in shares of Deere & Company by 34.8% during the second quarter. Nelson Roberts Investment Advisors LLC now owns 271 shares of the industrial products company’s stock worth $45,000 after purchasing an additional 70 shares in the last quarter. Finally, Heritage Wealth Advisors purchased a new stake in shares of Deere & Company during the second quarter worth about $47,000. Institutional investors own 67.53% of the company’s stock.

In related news, COO John C. May II sold 5,228 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $170.00, for a total transaction of $888,760.00. Following the completion of the sale, the chief operating officer now owns 49,310 shares of the company’s stock, valued at approximately $8,382,700. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.71% of the stock is currently owned by corporate insiders.

A number of analysts have recently commented on DE shares. Bank of America cut their target price on shares of Deere & Company from $185.00 to $175.00 and set a “buy” rating for the company in a research note on Monday, August 19th. Credit Suisse Group reissued an “outperform” rating and set a $197.00 target price (up previously from $176.00) on shares of Deere & Company in a research note on Monday, August 19th. Wells Fargo & Co cut shares of Deere & Company from an “outperform” rating to a “market perform” rating and set a $170.00 target price for the company. in a research note on Thursday, September 12th. Deutsche Bank cut their target price on shares of Deere & Company from $163.00 to $155.00 and set a “hold” rating for the company in a research note on Wednesday, August 14th. Finally, Jefferies Financial Group raised shares of Deere & Company from a “hold” rating to a “buy” rating and boosted their target price for the stock from $150.00 to $190.00 in a research note on Monday, June 24th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $168.42.

NYSE DE traded up $3.51 during trading hours on Friday, hitting $171.31. 138,027 shares of the company’s stock traded hands, compared to its average volume of 1,892,168. Deere & Company has a 52-week low of $128.32 and a 52-week high of $171.22. The company has a market capitalization of $51.94 billion, a PE ratio of 18.23, a PEG ratio of 2.48 and a beta of 1.16. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.99 and a quick ratio of 1.73. The firm’s 50-day moving average is $160.69 and its 200-day moving average is $158.17.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Friday, August 16th. The industrial products company reported $2.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.80 by ($0.09). Deere & Company had a net margin of 8.55% and a return on equity of 27.75%. The business had revenue of $8.97 billion for the quarter, compared to analysts’ expectations of $9.38 billion. During the same period in the prior year, the company posted $2.59 EPS. The firm’s revenue was down 3.4% on a year-over-year basis. Equities research analysts predict that Deere & Company will post 9.98 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Monday, September 30th will be paid a dividend of $0.76 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $3.04 annualized dividend and a yield of 1.77%. Deere & Company’s dividend payout ratio is presently 32.37%.

Deere & Company Company Profile

Deere & Company manufactures and distributes various equipment worldwide. The company operates through three segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment offers agriculture and turf equipment, and related parts, including large, medium, and utility tractors; tractor loaders; combines, cotton pickers, cotton strippers, and sugarcane harvesters; harvesting front-end equipment; sugarcane loaders and pull-behind scrapers; and tillage, seeding, and application equipment.

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Institutional Ownership by Quarter for Deere & Company (NYSE:DE)

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