TD Asset Management Inc Sells 126,739 Shares of Deere & Company $DE

TD Asset Management Inc trimmed its position in shares of Deere & Company (NYSE:DE) by 17.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 594,899 shares of the industrial products company’s stock after selling 126,739 shares during the period. TD Asset Management Inc’s holdings in Deere & Company were worth $272,024,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. The Manufacturers Life Insurance Company boosted its position in shares of Deere & Company by 30.6% during the second quarter. The Manufacturers Life Insurance Company now owns 364,103 shares of the industrial products company’s stock valued at $185,143,000 after purchasing an additional 85,351 shares in the last quarter. Csenge Advisory Group lifted its position in Deere & Company by 84.9% during the third quarter. Csenge Advisory Group now owns 7,440 shares of the industrial products company’s stock valued at $3,402,000 after buying an additional 3,416 shares during the period. Mesirow Financial Investment Management Inc. boosted its holdings in shares of Deere & Company by 1.0% during the 2nd quarter. Mesirow Financial Investment Management Inc. now owns 4,678 shares of the industrial products company’s stock valued at $2,379,000 after buying an additional 45 shares in the last quarter. MASTERINVEST Kapitalanlage GmbH purchased a new stake in shares of Deere & Company in the 2nd quarter worth about $3,615,000. Finally, WINTON GROUP Ltd bought a new position in shares of Deere & Company in the 2nd quarter worth about $4,550,000. 68.58% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on DE shares. Raymond James Financial restated an “outperform” rating and issued a $765.00 price objective on shares of Deere & Company in a report on Monday. Robert W. Baird raised their price objective on Deere & Company from $467.00 to $675.00 and gave the company a “neutral” rating in a research report on Friday. Weiss Ratings reissued a “hold (c+)” rating on shares of Deere & Company in a report on Monday, December 29th. Morgan Stanley lifted their price target on Deere & Company from $560.00 to $730.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, Citigroup increased their price objective on shares of Deere & Company from $515.00 to $675.00 and gave the company a “neutral” rating in a research report on Monday. Fifteen investment 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. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $637.70.

Insider Activity at Deere & Company

In other news, insider Cory J. Reed sold 12,000 shares of Deere & Company stock in a transaction on Wednesday, January 14th. The shares were sold at an average price of $510.00, for a total transaction of $6,120,000.00. Following the transaction, the insider owned 20,792 shares in the company, valued at $10,603,920. This trade represents a 36.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO John C. May II sold 41,472 shares of the business’s stock in a transaction 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 sale, the chief executive officer directly owned 117,970 shares of the company’s stock, valued at approximately $59,160,775.30. The trade was a 26.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.29% of the stock is currently owned by company insiders.

Deere & Company Stock Down 0.3%

Deere & Company stock opened at $644.88 on Wednesday. Deere & Company has a one year low of $404.42 and a one year high of $674.19. The stock has a fifty day moving average of $528.91 and a 200 day moving average of $492.95. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.96 and a current ratio of 2.21. The stock has a market cap of $174.81 billion, a PE ratio of 36.35, a price-to-earnings-growth ratio of 2.36 and a beta of 1.02.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, February 19th. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.90 by $0.52. Deere & Company had a return on equity of 18.93% and a net margin of 10.29%.The business had revenue of $9.61 billion during the quarter, compared to the consensus estimate of $7.50 billion. During the same period in the previous year, the company posted $3.19 EPS. The business’s quarterly revenue was up 17.5% compared to the same quarter last year. As a group, sell-side analysts predict that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 9th. Shareholders of record on Wednesday, December 31st were given a $1.62 dividend. The ex-dividend date was Wednesday, December 31st. This represents a $6.48 annualized dividend and a yield of 1.0%. Deere & Company’s dividend payout ratio (DPR) is presently 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.