Candriam S.C.A. Reduces Holdings in Deere & Company $DE

Candriam S.C.A. reduced its position in Deere & Company (NYSE:DE) by 34.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 22,222 shares of the industrial products company’s stock after selling 11,598 shares during the quarter. Candriam S.C.A.’s holdings in Deere & Company were worth $10,161,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Deere & Company by 1.4% in the 2nd quarter. Vanguard Group Inc. now owns 22,372,671 shares of the industrial products company’s stock valued at $11,376,279,000 after buying an additional 309,081 shares during the period. State Street Corp lifted its holdings in Deere & Company by 0.6% in the second quarter. State Street Corp now owns 10,386,268 shares of the industrial products company’s stock valued at $5,297,913,000 after acquiring an additional 64,262 shares during the last quarter. Geode Capital Management LLC grew its position in Deere & Company by 2.1% in the second quarter. Geode Capital Management LLC now owns 5,541,778 shares of the industrial products company’s stock worth $2,810,807,000 after acquiring an additional 111,627 shares during the period. Norges Bank purchased a new position in Deere & Company in the second quarter worth approximately $1,578,243,000. Finally, Fisher Asset Management LLC increased its stake in Deere & Company by 10.1% during the second quarter. Fisher Asset Management LLC now owns 2,580,228 shares of the industrial products company’s stock worth $1,312,020,000 after acquiring an additional 236,406 shares during the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Analyst Ratings Changes

DE has been the topic of several recent analyst reports. Truist Financial upped their price target on Deere & Company from $609.00 to $612.00 and gave the company a “buy” rating in a research note on Friday, November 28th. Evercore restated a “positive” rating on shares of Deere & Company in a report on Friday, November 28th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Deere & Company in a research note on Monday, December 29th. Sanford C. Bernstein reiterated a “market perform” rating on shares of Deere & Company in a research report on Tuesday, December 9th. Finally, DA Davidson restated a “buy” rating and issued a $580.00 price objective on shares of Deere & Company in a report on Monday, December 1st. Fifteen research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, Deere & Company has a consensus rating of “Moderate Buy” and an average target price of $524.20.

Insider Buying and Selling at Deere & Company

In related news, CEO John C. May II sold 41,472 shares of Deere & Company stock in a transaction on 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 approximately $59,160,775.30. This trade represents a 26.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Cory J. Reed sold 12,000 shares of the business’s stock in a transaction on 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 transaction, the insider directly owned 20,792 shares of the company’s stock, valued at $10,603,920. The trade was a 36.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 64,578 shares of company stock worth $32,471,682. Insiders own 0.29% of the company’s stock.

Deere & Company Stock Up 1.3%

Shares of DE opened at $593.11 on Wednesday. The company’s 50-day simple moving average is $500.08 and its 200-day simple moving average is $485.13. The company has a debt-to-equity ratio of 1.68, a quick ratio of 2.01 and a current ratio of 2.22. Deere & Company has a 1 year low of $404.42 and a 1 year high of $593.76. The stock has a market capitalization of $160.77 billion, a PE ratio of 32.04, a P/E/G ratio of 2.34 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). The business had revenue of $12.39 billion during the quarter, compared to analyst estimates of $9.77 billion. Deere & Company had a net margin of 11.00% and a return on equity of 20.54%. The company’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same quarter last year, the firm posted $4.55 EPS. Analysts forecast that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 9th. Stockholders of record on Wednesday, December 31st were paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Wednesday, December 31st. Deere & Company’s dividend payout ratio (DPR) is presently 35.01%.

About Deere & Company

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.