L.M. Kohn & Company Decreases Holdings in Deere & Company $DE

L.M. Kohn & Company decreased its holdings in Deere & Company (NYSE:DE) by 75.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 501 shares of the industrial products company’s stock after selling 1,567 shares during the period. L.M. Kohn & Company’s holdings in Deere & Company were worth $229,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its holdings in shares of Deere & Company by 39.1% in the 4th quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company’s stock worth $1,927,000 after purchasing an additional 1,278 shares during the period. Robeco Institutional Asset Management B.V. lifted its position in Deere & Company by 874.8% in the second quarter. Robeco Institutional Asset Management B.V. now owns 243,914 shares of the industrial products company’s stock worth $124,028,000 after buying an additional 218,893 shares during the last quarter. Pure Financial Advisors LLC purchased a new position in Deere & Company during the second quarter worth $565,000. Hilltop National Bank bought a new position in Deere & Company during the second quarter valued at $1,825,000. Finally, Trinity Legacy Partners LLC raised its stake in shares of Deere & Company by 1.0% in the second quarter. Trinity Legacy Partners LLC now owns 8,431 shares of the industrial products company’s stock valued at $4,281,000 after acquiring an additional 87 shares during the period. 68.58% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Deere & Company news, insider Cory J. Reed sold 12,000 shares of Deere & Company 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 transaction, the insider owned 20,792 shares in the company, valued at $10,603,920. The trade was a 36.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John C. May II sold 41,472 shares of the stock in a transaction dated 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 64,578 shares of company stock worth $32,471,682 over the last quarter. Company insiders own 0.29% of the company’s stock.

Key Stories Impacting Deere & Company

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

• Positive Sentiment: Traders rotating out of big tech and into cyclical, economy?sensitive stocks helped push Deere to an intraday record as investors price in lower rates and stronger growth expectations. Deere shares jump to record as traders rotate out of tech
• Positive Sentiment: Deere is expanding U.S. manufacturing footprint with two new industrial facilities (Indiana and North Carolina), signaling management expects sustained demand and supporting future capacity and service operations. John Deere to Open Two New Industrial Facilities in Indiana, North Carolina
• Positive Sentiment: Deere plans to recall about 99 workers at its Davenport and Dubuque plants in February, a near?term sign of ramping production and improving order activity at U.S. facilities. John Deere to recall 99 workers at Davenport, Dubuque plants in February

Deere & Company Trading Down 0.7%

DE opened at $526.11 on Friday. 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’s fifty day moving average is $487.18 and its two-hundred day moving average is $482.46. The company has a market capitalization of $142.61 billion, a P/E ratio of 28.42, a PEG ratio of 2.11 and a beta of 1.00. Deere & Company has a 52 week low of $404.42 and a 52 week high of $537.26.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Wednesday, November 26th. The industrial products company reported $3.93 EPS for the quarter, missing the consensus estimate of $3.96 by ($0.03). The firm had revenue of $12.39 billion for 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 business’s quarterly revenue was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $4.55 EPS. Analysts forecast that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 9th. Shareholders of record on Wednesday, December 31st will be given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Wednesday, December 31st. Deere & Company’s dividend payout ratio (DPR) is 35.01%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Morgan Stanley reaffirmed an “overweight” rating and set a $560.00 price target on shares of Deere & Company in a research note on Tuesday, December 9th. DA Davidson reissued a “buy” rating and issued a $580.00 price objective on shares of Deere & Company in a research note on Monday, December 1st. Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of Deere & Company in a research note on Monday, December 1st. Wolfe Research increased their price target on Deere & Company from $520.00 to $550.00 and gave the stock an “outperform” rating in a report on Friday, January 2nd. Finally, Evercore ISI reissued a “positive” rating on shares of Deere & Company in a research note on Friday, November 28th. Fifteen investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $524.20.

Deere & 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.