Deere & Company $DE Shares Bought by Fayez Sarofim & Co

Fayez Sarofim & Co grew its holdings in Deere & Company (NYSE:DE) by 8.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 445,924 shares of the industrial products company’s stock after acquiring an additional 36,595 shares during the period. Fayez Sarofim & Co owned about 0.16% of Deere & Company worth $206,497,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Brighton Jones LLC increased its holdings in Deere & Company by 39.1% in the 4th quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company’s stock valued at $1,927,000 after purchasing an additional 1,278 shares in the last quarter. Schnieders Capital Management LLC. lifted its position in shares of Deere & Company by 7.8% during the second quarter. Schnieders Capital Management LLC. now owns 2,076 shares of the industrial products company’s stock worth $1,056,000 after purchasing an additional 150 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Deere & Company in the second quarter valued at $2,399,000. Foundations Investment Advisors LLC boosted its stake in shares of Deere & Company by 31.0% in the second quarter. Foundations Investment Advisors LLC now owns 4,112 shares of the industrial products company’s stock valued at $2,091,000 after purchasing an additional 972 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in Deere & Company by 6.9% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 61,906 shares of the industrial products company’s stock valued at $31,479,000 after purchasing an additional 3,983 shares in the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Wall Street Analyst Weigh In

DE has been the topic of several analyst reports. Robert W. Baird lifted their price target on shares of Deere & Company from $467.00 to $675.00 and gave the stock a “neutral” rating in a research note on Friday, February 20th. Keefe, Bruyette & Woods restated an “outperform” rating on shares of Deere & Company in a research note on Monday, December 1st. Daiwa Securities Group dropped their target price on Deere & Company from $530.00 to $520.00 and set an “outperform” rating on the stock in a research report on Tuesday, December 2nd. DA Davidson boosted their price target on Deere & Company from $580.00 to $775.00 and gave the stock a “buy” rating in a research note on Friday, February 20th. Finally, Bank of America increased their price target on Deere & Company from $502.00 to $672.00 and gave the company a “neutral” rating in a report on Friday, February 20th. Sixteen investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $644.70.

Insider Transactions at Deere & Company

In other news, insider Cory J. Reed sold 12,000 shares of the firm’s stock in a transaction dated 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 transaction, the insider directly owned 20,792 shares in the company, valued at approximately $10,603,920. This trade represents a 36.59% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO John C. May II sold 41,472 shares of Deere & Company 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 transaction, the chief executive officer directly owned 117,970 shares of the company’s stock, valued at $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. Company insiders own 0.29% of the company’s stock.

Deere & Company Price Performance

Shares of NYSE DE opened at $577.42 on Monday. The company has a current ratio of 2.21, a quick ratio of 1.96 and a debt-to-equity ratio of 1.59. The company has a market capitalization of $155.97 billion, a price-to-earnings ratio of 32.55, a price-to-earnings-growth ratio of 2.02 and a beta of 0.96. Deere & Company has a twelve month low of $404.42 and a twelve month high of $674.19. The business has a 50 day simple moving average of $564.21 and a 200-day simple moving average of $503.15.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, February 19th. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.52. The firm had revenue of $9.61 billion for the quarter, compared to analysts’ expectations of $7.50 billion. Deere & Company had a return on equity of 18.93% and a net margin of 10.29%.The firm’s revenue for the quarter was up 17.5% on a year-over-year basis. During the same period last year, the business posted $3.19 earnings per share. As a group, equities research analysts expect that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 8th. Shareholders of record on Tuesday, March 31st will be issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Tuesday, March 31st. Deere & Company’s dividend payout ratio is 36.53%.

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.