Mutual of America Capital Management LLC Cuts Stake in Deere & Company $DE

Mutual of America Capital Management LLC cut its position in Deere & Company (NYSE:DE) by 5.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 31,114 shares of the industrial products company’s stock after selling 1,733 shares during the period. Mutual of America Capital Management LLC’s holdings in Deere & Company were worth $14,227,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Mid American Wealth Advisory Group Inc. bought a new position in Deere & Company in the 2nd quarter valued at approximately $25,000. Howard Hughes Medical Institute bought a new stake in shares of Deere & Company in the 2nd quarter worth $27,000. Center for Financial Planning Inc. raised its stake in shares of Deere & Company by 406.7% in 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 during the last quarter. Soundwatch Capital LLC bought a new position in shares of Deere & Company during the second quarter valued at $41,000. Finally, Lynch Asset Management Inc. bought a new position in shares of Deere & Company during the third quarter valued at $46,000. Institutional investors own 68.58% of the company’s stock.

Analyst Ratings Changes

DE has been the subject of several research analyst reports. Royal Bank Of Canada reduced their price objective on Deere & Company from $542.00 to $541.00 and set an “outperform” rating for the company in a report on Friday, November 28th. Wolfe Research lifted their price target on shares of Deere & Company from $520.00 to $550.00 and gave the stock an “outperform” rating in a research note on Friday, January 2nd. BMO Capital Markets reissued a “market perform” rating and set a $460.00 price objective on shares of Deere & Company in a report on Tuesday, December 9th. Citigroup lowered their price objective on shares of Deere & Company from $525.00 to $515.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 7th. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of Deere & Company in a research report on Monday, December 1st. Fifteen analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $524.20.

Insiders Place Their Bets

In other Deere & Company news, insider Cory J. Reed sold 12,000 shares of the company’s 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 $10,603,920. This represents a 36.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO John C. May II sold 41,472 shares of the firm’s stock in a transaction dated 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 $59,160,775.30. This trade represents a 26.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 64,578 shares of company stock worth $32,471,682. 0.29% of the stock is owned by insiders.

Deere & Company Price Performance

Shares of NYSE:DE opened at $514.92 on Monday. The firm’s 50 day moving average price is $482.61 and its 200-day moving average price is $481.67. Deere & Company has a twelve month low of $404.42 and a twelve month high of $533.78. The company has a quick ratio of 2.01, a current ratio of 2.22 and a debt-to-equity ratio of 1.68. The stock has a market capitalization of $139.58 billion, a PE ratio of 27.82, a price-to-earnings-growth ratio of 1.97 and a beta of 1.00.

Deere & Company (NYSE:DE) last announced its earnings results 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). Deere & Company had a net margin of 11.00% and a return on equity of 20.54%. The business had revenue of $12.39 billion for the quarter, compared to the consensus estimate of $9.77 billion. During the same quarter last year, the firm posted $4.55 earnings per share. The business’s quarterly revenue was up 14.1% compared to the same quarter last year. Equities research analysts expect that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 9th. Stockholders of record on Wednesday, December 31st will be paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Wednesday, December 31st. Deere & Company’s dividend payout ratio is 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.