NEOS Investment Management LLC Acquires 5,894 Shares of Deere & Company $DE

NEOS Investment Management LLC raised its stake in Deere & Company (NYSE:DE) by 22.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 31,748 shares of the industrial products company’s stock after buying an additional 5,894 shares during the period. NEOS Investment Management LLC’s holdings in Deere & Company were worth $14,517,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Deere & Company in the second quarter valued at about $1,578,243,000. Marshall Wace LLP lifted its holdings in Deere & Company by 573.9% during the second 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 during the period. Laurel Wealth Advisors LLC lifted its holdings in shares of Deere & Company by 50,691.9% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 332,179 shares of the industrial products company’s stock valued at $168,910,000 after purchasing an additional 331,525 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Deere & Company by 1.4% in the 2nd quarter. Vanguard Group Inc. now owns 22,372,671 shares of the industrial products company’s stock worth $11,376,279,000 after purchasing an additional 309,081 shares in the last quarter. Finally, Loomis Sayles & Co. L P grew its stake in Deere & Company by 26.8% during the 2nd quarter. Loomis Sayles & Co. L P now owns 1,386,321 shares of the industrial products company’s stock worth $704,930,000 after buying an additional 292,932 shares during the last quarter. Institutional investors own 68.58% of the company’s stock.

Insider Activity at Deere & Company

In related news, insider Cory J. Reed sold 12,000 shares of the company’s stock in a transaction that occurred on 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 directly owned 20,792 shares in the company, valued at approximately $10,603,920. This represents a 36.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO John C. May II sold 41,472 shares of the stock in a transaction on 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 transaction, the chief executive officer owned 117,970 shares of the company’s stock, valued at approximately $59,160,775.30. This represents a 26.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 64,578 shares of company stock valued at $32,471,682. Corporate insiders own 0.29% of the company’s stock.

Deere & Company Stock Down 0.5%

DE opened at $599.90 on Wednesday. Deere & Company has a twelve month low of $404.42 and a twelve month high of $626.25. The company has a 50-day moving average price of $513.04 and a 200 day moving average price of $488.37. 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 company has a market cap of $162.61 billion, a PE ratio of 32.41, a price-to-earnings-growth ratio of 2.40 and a beta of 1.02.

Deere & Company (NYSE:DE) last posted its quarterly earnings data 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 during the quarter, compared to analyst estimates 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 for the quarter was up 14.1% compared to the same quarter last year. During the same period in the prior year, the company posted $4.55 earnings per share. Sell-side analysts expect that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 9th. Investors of record on Wednesday, December 31st were given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 1.1%. The ex-dividend date was Wednesday, December 31st. Deere & Company’s dividend payout ratio (DPR) is presently 35.01%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on DE shares. Weiss Ratings restated a “hold (c+)” rating on shares of Deere & Company in a report on Monday, December 29th. Wells Fargo & Company assumed coverage on Deere & Company in a research note on Thursday, November 13th. They issued an “overweight” rating and a $543.00 target price for the company. Zacks Research upgraded Deere & Company from a “strong sell” rating to a “hold” rating in a research note on Wednesday, December 3rd. UBS Group restated a “buy” rating on shares of Deere & Company in a research note on Tuesday, November 25th. Finally, DA Davidson reaffirmed a “buy” rating and issued a $580.00 price target on shares of Deere & Company in a report on Monday, December 1st. Fifteen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average 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.