Deere & Company (NYSE:DE - Get Free Report) insider Rajesh Kalathur sold 24,580 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $500.61, for a total transaction of $12,304,993.80. Following the transaction, the insider now directly owns 74,878 shares in the company, valued at $37,484,675.58. The trade was a 24.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link.
Deere & Company Stock Performance
NYSE:DE traded down $5.81 during mid-day trading on Friday, hitting $489.98. The stock had a trading volume of 1,102,183 shares, compared to its average volume of 1,451,524. The stock has a market capitalization of $133.45 billion, a price-to-earnings ratio of 21.72, a P/E/G ratio of 2.14 and a beta of 0.98. The company has a current ratio of 2.22, a quick ratio of 1.98 and a debt-to-equity ratio of 1.94. The company has a 50 day simple moving average of $452.07 and a 200-day simple moving average of $421.97. Deere & Company has a 52 week low of $340.20 and a 52 week high of $515.05.
Deere & Company (NYSE:DE - Get Free Report) last released its earnings results on Thursday, February 13th. The industrial products company reported $3.19 EPS for the quarter, beating the consensus estimate of $3.14 by $0.05. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. On average, research analysts expect that Deere & Company will post 19.32 earnings per share for the current fiscal year.
Deere & Company Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, February 10th. Investors of record on Tuesday, December 31st were issued a dividend of $1.62 per share. This is a boost from Deere & Company's previous quarterly dividend of $1.47. This represents a $6.48 annualized dividend and a dividend yield of 1.32%. The ex-dividend date was Tuesday, December 31st. Deere & Company's dividend payout ratio (DPR) is currently 28.72%.
Analyst Ratings Changes
A number of research firms have weighed in on DE. Barclays increased their price target on shares of Deere & Company from $400.00 to $475.00 and gave the stock an "overweight" rating in a research note on Friday, November 22nd. Morgan Stanley raised their price target on shares of Deere & Company from $401.00 to $450.00 and gave the company an "overweight" rating in a report on Monday, November 25th. Jefferies Financial Group lowered shares of Deere & Company from a "buy" rating to a "hold" rating and set a $510.00 price target for the company. in a report on Friday, December 6th. StockNews.com lowered shares of Deere & Company from a "hold" rating to a "sell" rating in a report on Thursday. Finally, Evercore ISI raised their price objective on shares of Deere & Company from $437.00 to $455.00 and gave the stock an "in-line" rating in a report on Wednesday. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Deere & Company currently has a consensus rating of "Hold" and an average target price of $454.65.
Read Our Latest Stock Analysis on Deere & Company
Institutional Trading of Deere & Company
Several institutional investors have recently made changes to their positions in the stock. Resonant Capital Advisors LLC acquired a new stake in Deere & Company in the third quarter valued at approximately $206,000. Vest Financial LLC increased its position in Deere & Company by 196.4% during the third quarter. Vest Financial LLC now owns 2,030 shares of the industrial products company's stock worth $847,000 after acquiring an additional 1,345 shares during the period. Ledyard National Bank increased its position in Deere & Company by 3.3% during the third quarter. Ledyard National Bank now owns 1,231 shares of the industrial products company's stock worth $514,000 after acquiring an additional 39 shares during the period. Calton & Associates Inc. bought a new stake in Deere & Company in the 3rd quarter valued at $270,000. Finally, Fortis Group Advisors LLC increased its holdings in Deere & Company by 357.8% in the 3rd quarter. Fortis Group Advisors LLC now owns 618 shares of the industrial products company's stock valued at $258,000 after buying an additional 483 shares during the period. 68.58% of the stock is currently owned by institutional investors and hedge funds.
About Deere & Company
(
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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.
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