Deere & Company $DE Shares Purchased by SG Americas Securities LLC

Key Points

• SG Americas Securities boosted its stake in Deere by 659.1%, buying 213,049 shares to hold 245,374 shares worth $114.24 million (about a 0.09% stake).
• Deere posted a strong quarter, reporting $2.42 EPS versus $1.90 expected and $9.61 billion in revenue versus $7.50 billion expected, with revenue up 17.5% year-over-year.
• Insiders sold sizable positions (CEO John C. May II sold 41,472 shares for ~$20.8M; Cory J. Reed sold 12,000 shares for ~$6.12M), leaving insiders with 0.29% ownership, and the company announced a $1.62 quarterly dividend (1.1% yield; ex-dividend March 31).

SG Americas Securities LLC increased its holdings in shares of Deere & Company (NYSE:DE - Free Report) by 659.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 245,374 shares of the industrial products company's stock after buying an additional 213,049 shares during the quarter. SG Americas Securities LLC owned about 0.09% of Deere & Company worth $114,239,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Strategic Advocates LLC acquired a new position in shares of Deere & Company during the 3rd quarter valued at about $25,000. Howard Hughes Medical Institute acquired a new stake in shares of Deere & Company in the second quarter worth approximately $27,000. Activest Wealth Management grew its holdings in Deere & Company by 69.2% in the third quarter. Activest Wealth Management now owns 66 shares of the industrial products company's stock valued at $30,000 after purchasing an additional 27 shares during the period. Wealth Watch Advisors INC purchased a new stake in Deere & Company in the third quarter valued at approximately $32,000. Finally, United Community Bank increased its position in Deere & Company by 67.3% during the third quarter. United Community Bank now owns 92 shares of the industrial products company's stock worth $42,000 after purchasing an additional 37 shares during the last quarter. 68.58% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

DE has been the topic of a number of recent analyst reports. Citigroup cut their price target on shares of Deere & Company from $675.00 to $625.00 and set a "neutral" rating on the stock in a research note on Monday, March 9th. Evercore restated a "positive" rating on shares of Deere & Company in a report on Friday, November 28th. DA Davidson increased their target price on Deere & Company from $580.00 to $775.00 and gave the stock a "buy" rating in a research report on Friday, February 20th. Daiwa Securities Group reduced their target price on Deere & Company from $530.00 to $520.00 and set an "outperform" rating on the stock in a report on Tuesday, December 2nd. Finally, Wall Street Zen raised Deere & Company from a "sell" rating to a "hold" rating in a research report on Saturday, February 7th. Sixteen equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, 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 stock in a transaction dated Wednesday, January 14th. The stock was 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 trade represents a 36.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John C. May II sold 41,472 shares of the firm's stock in a transaction dated Thursday, January 8th. The shares were sold at an average price of $501.49, for a total value of $20,797,793.28. Following the sale, the chief executive officer owned 117,970 shares in the company, valued at approximately $59,160,775.30. The trade was a 26.01% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.29% of the company's stock.

Deere & Company Price Performance

DE opened at $569.42 on Tuesday. Deere & Company has a 52-week low of $404.42 and a 52-week high of $674.19. The company has a 50 day moving average of $574.33 and a two-hundred day moving average of $506.98. The company has a market cap of $153.81 billion, a P/E ratio of 32.10, a P/E/G ratio of 1.96 and a beta of 0.96. The company has a quick ratio of 1.96, a current ratio of 2.21 and a debt-to-equity ratio of 1.59.

Deere & Company (NYSE:DE - Get Free Report) last issued its earnings results on Thursday, February 19th. The industrial products company reported $2.42 EPS for the quarter, beating analysts' consensus estimates of $1.90 by $0.52. The business had revenue of $9.61 billion for the quarter, compared to the consensus estimate of $7.50 billion. Deere & Company had a net margin of 10.29% and a return on equity of 18.93%. The business's revenue for the quarter was up 17.5% compared to the same quarter last year. During the same quarter last year, the firm posted $3.19 EPS. On average, analysts expect that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 8th. Shareholders of record on Tuesday, March 31st will be given a $1.62 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $6.48 annualized dividend and a yield of 1.1%. Deere & Company's dividend payout ratio (DPR) 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.

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