Deere & Company $DE Shares Sold by Madison Asset Management LLC

Madison Asset Management LLC reduced its holdings in Deere & Company (NYSE:DE) by 4.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 103,660 shares of the industrial products company’s stock after selling 4,843 shares during the period. Madison Asset Management LLC’s holdings in Deere & Company were worth $47,399,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Mid American Wealth Advisory Group Inc. acquired a new position in Deere & Company during the second quarter worth $25,000. Howard Hughes Medical Institute purchased a new stake in shares of Deere & Company during the second quarter worth about $27,000. Activest Wealth Management raised its position in shares of Deere & Company by 69.2% during the 3rd quarter. Activest Wealth Management now owns 66 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 27 shares during the last quarter. Center for Financial Planning Inc. lifted its stake in Deere & Company by 406.7% in the 2nd quarter. Center for Financial Planning Inc. now owns 76 shares of the industrial products company’s stock valued at $39,000 after buying an additional 61 shares in the last quarter. Finally, United Community Bank lifted its stake in Deere & Company by 67.3% in the 3rd quarter. United Community Bank now owns 92 shares of the industrial products company’s stock valued at $42,000 after buying an additional 37 shares in the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Insiders Place Their Bets

In related news, insider Cory J. Reed sold 12,000 shares of the firm’s stock in a transaction dated Wednesday, January 14th. The stock was sold at an average price of $510.00, for a total transaction of $6,120,000.00. Following the completion of the sale, the insider directly owned 20,792 shares of the company’s stock, valued at approximately $10,603,920. This trade represents a 36.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO John C. May II sold 41,472 shares of the business’s stock in a transaction dated 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 owned 117,970 shares in the company, valued at approximately $59,160,775.30. This trade represents a 26.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 64,578 shares of company stock valued at $32,471,682. Company insiders own 0.29% of the company’s stock.

Deere & Company Trading Up 1.3%

Shares of DE stock opened at $593.11 on Wednesday. The company has a current ratio of 2.22, a quick ratio of 2.01 and a debt-to-equity ratio of 1.68. The company’s 50-day moving average price is $500.08 and its 200-day moving average price is $485.13. Deere & Company has a twelve month low of $404.42 and a twelve month high of $593.76. The stock has a market cap of $160.77 billion, a price-to-earnings ratio of 32.04, a PEG ratio of 2.34 and a beta of 1.02.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Wednesday, November 26th. The industrial products company reported $3.93 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.96 by ($0.03). The firm had revenue of $12.39 billion for the quarter, compared to analyst estimates of $9.77 billion. Deere & Company had a return on equity of 20.54% and a net margin of 11.00%.The firm’s quarterly revenue was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.55 EPS. As a group, equities analysts predict that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, February 9th. Stockholders of record on Wednesday, December 31st were issued a dividend of $1.62 per share. The ex-dividend date was Wednesday, December 31st. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.1%. Deere & Company’s dividend payout ratio is currently 35.01%.

Wall Street Analysts Forecast Growth

Several research firms have commented on DE. Royal Bank Of Canada cut their price objective on Deere & Company from $542.00 to $541.00 and set an “outperform” rating for the company in a research note on Friday, November 28th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of Deere & Company in a research note on Monday, December 1st. Wells Fargo & Company assumed coverage on Deere & Company in a research report on Thursday, November 13th. They set an “overweight” rating and a $543.00 price target for the company. Jefferies Financial Group increased their price objective on Deere & Company from $440.00 to $475.00 and gave the company a “hold” rating in a research note on Tuesday, December 9th. Finally, Daiwa Securities Group lowered their target price on shares of Deere & Company from $530.00 to $520.00 and set an “outperform” rating on the stock in a research note on Tuesday, December 2nd. Fifteen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, Deere & Company presently has a consensus rating of “Moderate Buy” and a consensus price target of $524.20.

Deere & Company 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.