ING Groep NV Increases Stock Position in Deere & Company $DE

ING Groep NV boosted its holdings in shares of Deere & Company (NYSE:DE) by 2,402.0% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 22,843 shares of the industrial products company’s stock after acquiring an additional 21,930 shares during the quarter. ING Groep NV’s holdings in Deere & Company were worth $10,445,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Rhumbline Advisers increased its holdings in shares of Deere & Company by 1.1% in the 3rd quarter. Rhumbline Advisers now owns 472,079 shares of the industrial products company’s stock valued at $215,863,000 after acquiring an additional 5,149 shares during the period. Krilogy Financial LLC purchased a new stake in shares of Deere & Company during the 3rd quarter worth $1,074,000. Advisors Asset Management Inc. boosted its position in Deere & Company by 2.5% during the third quarter. Advisors Asset Management Inc. now owns 8,645 shares of the industrial products company’s stock valued at $3,953,000 after purchasing an additional 211 shares in the last quarter. Vision Financial Markets LLC purchased a new position in Deere & Company in the third quarter valued at about $46,000. Finally, Stratos Wealth Partners LTD. raised its holdings in Deere & Company by 9.9% in the third quarter. Stratos Wealth Partners LTD. now owns 10,163 shares of the industrial products company’s stock worth $4,647,000 after purchasing an additional 914 shares in the last quarter. Institutional investors own 68.58% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on DE. Royal Bank Of Canada lowered their price target on shares of Deere & Company from $542.00 to $541.00 and set an “outperform” rating on the stock in a report on Friday, November 28th. UBS Group reissued a “buy” rating on shares of Deere & Company in a research report on Tuesday, November 25th. Evercore restated a “positive” rating on shares of Deere & Company in a research note on Friday, November 28th. Truist Financial upped their price target on Deere & Company from $609.00 to $612.00 and gave the stock a “buy” rating in a research report on Friday, November 28th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $560.00 price objective on shares of Deere & Company in a report on Tuesday, December 9th. Fifteen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, Deere & Company presently has a consensus rating of “Moderate Buy” and a consensus price target of $524.20.

Insider Activity

In other news, CEO John C. May II sold 41,472 shares of the firm’s stock in a transaction dated Thursday, January 8th. The stock was sold at an average price of $501.49, for a total value of $20,797,793.28. Following the completion of the transaction, the chief executive officer directly owned 117,970 shares in the company, valued at $59,160,775.30. This trade represents a 26.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Cory J. Reed sold 12,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 14th. The shares were sold at an average price of $510.00, for a total value of $6,120,000.00. Following the completion of the sale, the insider owned 20,792 shares in the company, valued at approximately $10,603,920. This represents a 36.59% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders 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 3.4%

NYSE DE opened at $613.47 on Thursday. Deere & Company has a 12-month low of $404.42 and a 12-month high of $614.34. The company has a fifty day simple moving average of $502.71 and a two-hundred day simple moving average of $486.03. 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 stock has a market cap of $166.29 billion, a P/E ratio of 33.14, a P/E/G ratio of 2.37 and a beta of 1.02.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Wednesday, November 26th. The industrial products company reported $3.93 earnings per share for the quarter, missing analysts’ consensus estimates of $3.96 by ($0.03). Deere & Company had a net margin of 11.00% and a return on equity of 20.54%. The company had revenue of $12.39 billion for the quarter, compared to analysts’ expectations of $9.77 billion. During the same period last year, the firm earned $4.55 earnings per share. Deere & Company’s quarterly revenue was up 14.1% compared to the same quarter last year. On average, analysts forecast that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 9th. Stockholders of record on Wednesday, December 31st were issued a $1.62 dividend. The ex-dividend date of this dividend 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%.

Deere & 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.