Insider Selling: Deere & Company (NYSE:DE) Insider Sells $12,304,993.80 in Stock

Deere & Company (NYSE:DE) insider Rajesh Kalathur sold 24,580 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $500.61, for a total value of $12,304,993.80. Following the transaction, the insider now directly owns 74,878 shares in the company, valued at approximately $37,484,675.58. The trade was a 24.71 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Deere & Company Stock Down 1.2 %

Shares of NYSE DE opened at $489.98 on Friday. The stock has a market cap of $133.45 billion, a PE ratio of 21.72, a price-to-earnings-growth ratio of 2.20 and a beta of 0.98. The company has a quick ratio of 1.98, a current ratio of 2.22 and a debt-to-equity ratio of 1.94. Deere & Company has a 52-week low of $340.20 and a 52-week high of $515.05. The business has a 50-day moving average price of $452.07 and a 200 day moving average price of $420.91.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.14 by $0.05. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. Equities research analysts forecast that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 10th. Investors of record on Tuesday, December 31st were given a $1.62 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.32%. Deere & Company’s dividend payout ratio is 28.72%.

Institutional Trading of Deere & Company

A number of large investors have recently made changes to their positions in the company. Putney Financial Group LLC acquired a new stake in shares of Deere & Company in the 4th quarter valued at about $436,000. Vermillion Wealth Management Inc. acquired a new stake in Deere & Company during the 4th quarter worth approximately $452,000. Forum Financial Management LP lifted its position in Deere & Company by 13.5% during the 4th quarter. Forum Financial Management LP now owns 14,706 shares of the industrial products company’s stock worth $6,231,000 after acquiring an additional 1,754 shares during the period. Baer Investment Advisory LLC acquired a new stake in Deere & Company during the 4th quarter worth approximately $2,665,000. Finally, Castlekeep Investment Advisors LLC acquired a new stake in Deere & Company during the 4th quarter worth approximately $1,278,000. 68.58% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have weighed in on DE. Evercore ISI upped their price target on Deere & Company from $437.00 to $455.00 and gave the stock an “in-line” rating in a report on Wednesday. Morgan Stanley upped their price target on Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a report on Monday, November 25th. StockNews.com downgraded Deere & Company from a “hold” rating to a “sell” rating in a report on Thursday. Jefferies Financial Group downgraded Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price target on the stock. in a report on Friday, December 6th. Finally, Truist Financial restated a “buy” rating and set a $546.00 price target (down previously from $550.00) on shares of Deere & Company in a report on Friday, February 14th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $454.65.

About Deere & Company

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.