Providence Financial Advisors LLC Invests $869,000 in Deere & Company $DE

Providence Financial Advisors LLC purchased a new position in shares of Deere & Company (NYSE:DEFree Report) in the 3rd quarter, HoldingsChannel reports. The institutional investor purchased 1,900 shares of the industrial products company’s stock, valued at approximately $869,000. Deere & Company accounts for 0.8% of Providence Financial Advisors LLC’s investment portfolio, making the stock its 17th largest holding.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mid American Wealth Advisory Group Inc. purchased a new position in Deere & Company during the 2nd quarter worth $25,000. Howard Hughes Medical Institute acquired a new position in shares of Deere & Company during the second quarter worth about $27,000. Activest Wealth Management increased its stake in shares of Deere & Company by 69.2% during the third quarter. Activest Wealth Management now owns 66 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 27 shares during the period. Center for Financial Planning Inc. raised its holdings in Deere & Company by 406.7% during the second quarter. Center for Financial Planning Inc. now owns 76 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 61 shares in the last quarter. Finally, Soundwatch Capital LLC acquired a new stake in Deere & Company in the second quarter valued at about $41,000. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Cory J. Reed sold 12,000 shares of the business’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 transaction, the insider 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO John C. May II sold 41,472 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief executive officer directly owned 117,970 shares in the company, valued at $59,160,775.30. The trade was a 26.01% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 64,578 shares of company stock worth $32,471,682 over the last ninety days. 0.29% of the stock is owned by corporate insiders.

Deere & Company News Summary

Here are the key news stories impacting Deere & Company this week:

Deere & Company Price Performance

Shares of NYSE:DE opened at $602.54 on Monday. The company has a debt-to-equity ratio of 1.68, a quick ratio of 2.01 and a current ratio of 2.22. The business’s fifty day moving average price is $507.56 and its two-hundred day moving average price is $487.12. The stock has a market cap of $163.33 billion, a PE ratio of 32.55, a price-to-earnings-growth ratio of 2.40 and a beta of 1.02. Deere & Company has a one year low of $404.42 and a one year high of $626.25.

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

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 9th. Shareholders of record on Wednesday, December 31st were issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Wednesday, December 31st. Deere & Company’s dividend payout ratio is 35.01%.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. UBS Group reiterated a “buy” rating on shares of Deere & Company in a research report on Tuesday, November 25th. Oppenheimer lifted their price target on Deere & Company from $512.00 to $531.00 and gave the company an “outperform” rating in a research note on Friday, November 28th. Evercore reiterated a “positive” rating on shares of Deere & Company in a research report on Friday, November 28th. DA Davidson reissued a “buy” rating and issued a $580.00 target price on shares of Deere & Company in a report on Monday, December 1st. Finally, Wolfe Research boosted their target price on shares of Deere & Company from $520.00 to $550.00 and gave the stock an “outperform” rating in a research report on Friday, January 2nd. Fifteen research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $524.20.

View Our Latest Analysis on Deere & Company

About Deere & Company

(Free Report)

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.

Featured Stories

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Institutional Ownership by Quarter for Deere & Company (NYSE:DE)

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