Callan Family Office LLC Trims Stock Holdings in Deere & Company $DE

Callan Family Office LLC reduced its stake in shares of Deere & Company (NYSE:DE) by 17.0% during the third quarter, Holdings Channel reports. The institutional investor owned 4,733 shares of the industrial products company’s stock after selling 968 shares during the period. Callan Family Office LLC’s holdings in Deere & Company were worth $2,164,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Norges Bank bought a new stake in shares of Deere & Company during the 2nd quarter valued at $1,578,243,000. Marshall Wace LLP increased its stake in Deere & Company by 573.9% in the 2nd quarter. Marshall Wace LLP now owns 842,882 shares of the industrial products company’s stock worth $428,597,000 after buying an additional 717,808 shares in the last quarter. TD Asset Management Inc raised its holdings in Deere & Company by 132.0% during the second quarter. TD Asset Management Inc now owns 721,638 shares of the industrial products company’s stock valued at $366,946,000 after acquiring an additional 410,636 shares during the period. Laurel Wealth Advisors LLC lifted its position in shares of Deere & Company by 50,691.9% in the second quarter. Laurel Wealth Advisors LLC now owns 332,179 shares of the industrial products company’s stock valued at $168,910,000 after acquiring an additional 331,525 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Deere & Company by 1.4% in the second quarter. Vanguard Group Inc. now owns 22,372,671 shares of the industrial products company’s stock worth $11,376,279,000 after acquiring an additional 309,081 shares during the period. 68.58% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Daiwa Capital Markets decreased their target price on Deere & Company from $530.00 to $520.00 and set an “outperform” rating on the stock in a research note on Tuesday, December 2nd. Wall Street Zen downgraded shares of Deere & Company from a “hold” rating to a “sell” rating in a report on Friday, November 28th. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Deere & Company in a research note on Tuesday, December 9th. Robert W. Baird decreased their price target on shares of Deere & Company from $488.00 to $467.00 and set a “neutral” rating on the stock in a research note on Monday, October 13th. Finally, Wolfe Research increased their price objective on shares of Deere & Company from $520.00 to $550.00 and gave the company an “outperform” rating in a report on Friday, January 2nd. Fifteen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $524.20.

Insider Buying and Selling at Deere & Company

In other Deere & Company news, insider Cory J. Reed sold 12,000 shares of the business’s stock in a transaction dated Wednesday, January 14th. The stock was sold at an average price of $510.00, for a total transaction of $6,120,000.00. Following the sale, the insider owned 20,792 shares in the company, valued at approximately $10,603,920. The trade was a 36.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John C. May II sold 41,472 shares of Deere & Company 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 sale, the chief executive officer 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. The disclosure for this sale is available in the SEC filing. Insiders have sold 64,578 shares of company stock valued at $32,471,682 over the last quarter. Insiders own 0.29% of the company’s stock.

Deere & Company Trading Up 4.3%

DE stock opened at $568.20 on Thursday. The firm’s 50-day moving average is $490.96 and its 200 day moving average is $483.28. The company has a debt-to-equity ratio of 1.68, a current ratio of 2.22 and a quick ratio of 2.01. Deere & Company has a 12 month low of $404.42 and a 12 month high of $571.56. The company has a market capitalization of $154.02 billion, a PE ratio of 30.70, a P/E/G ratio of 2.17 and a beta of 1.02.

Deere & Company (NYSE:DE) last posted its earnings results on Wednesday, November 26th. The industrial products company reported $3.93 EPS for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $9.77 billion. During the same period last year, the business posted $4.55 EPS. The company’s revenue for the quarter was up 14.1% on a year-over-year basis. On average, research analysts anticipate that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

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

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.