Traders Sell Shares of Deere & Company (DE) on Strength (DE)

Investors sold shares of Deere & Company (NYSE:DE) on strength during trading on Friday. $67.83 million flowed into the stock on the tick-up and $94.97 million flowed out of the stock on the tick-down, for a money net flow of $27.14 million out of the stock. Of all companies tracked, Deere & had the 0th highest net out-flow for the day. Deere & traded up $0.97 for the day and closed at $117.30

Several brokerages have issued reports on DE. Argus reaffirmed a “buy” rating and set a $140.00 target price on shares of Deere & in a research note on Tuesday, August 22nd. Credit Suisse Group set a $132.00 price target on shares of Deere & and gave the company a “buy” rating in a research report on Saturday, May 20th. BidaskClub cut shares of Deere & from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Zacks Investment Research cut shares of Deere & from a “buy” rating to a “hold” rating in a research report on Monday, August 21st. Finally, Stifel Nicolaus boosted their price target on shares of Deere & from $126.00 to $135.00 and gave the company a “buy” rating in a research report on Monday, May 22nd. Three analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and ten have issued a buy rating to the company. Deere & has a consensus rating of “Hold” and an average price target of $127.58.

The firm has a 50 day moving average price of $123.14 and a 200-day moving average price of $117.98. The stock has a market cap of $37.63 billion, a PE ratio of 19.48 and a beta of 0.70.

Deere & (NYSE:DE) last posted its quarterly earnings data on Friday, August 18th. The industrial products company reported $1.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.93 by $0.04. Deere & had a return on equity of 25.96% and a net margin of 6.81%. The company had revenue of $6.83 billion for the quarter, compared to the consensus estimate of $6.92 billion. During the same period in the previous year, the business earned $1.55 EPS. Deere &’s revenue for the quarter was up 16.6% compared to the same quarter last year. Equities research analysts predict that Deere & Company will post $6.52 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Friday, September 29th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $2.40 annualized dividend and a yield of 2.05%. Deere &’s dividend payout ratio is presently 40.20%.

In other Deere & news, insider Cory J. Reed sold 4,936 shares of Deere & stock in a transaction that occurred on Friday, June 16th. The stock was sold at an average price of $128.00, for a total transaction of $631,808.00. Following the sale, the insider now directly owns 9,903 shares in the company, valued at approximately $1,267,584. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Pentz Markwart Von sold 46,457 shares of Deere & stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $116.74, for a total value of $5,423,390.18. Following the sale, the insider now owns 47,165 shares in the company, valued at $5,506,042.10. The disclosure for this sale can be found here. Insiders have sold a total of 76,769 shares of company stock worth $9,357,212 over the last 90 days. 0.85% of the stock is owned by company insiders.

Hedge funds have recently bought and sold shares of the business. QCI Asset Management Inc. NY increased its holdings in Deere & by 18.8% during the 2nd quarter. QCI Asset Management Inc. NY now owns 950 shares of the industrial products company’s stock worth $117,000 after purchasing an additional 150 shares during the last quarter. Guardian Life Insurance Co. of America increased its holdings in shares of Deere & by 1.4% in the 1st quarter. Guardian Life Insurance Co. of America now owns 1,132 shares of the industrial products company’s stock valued at $123,000 after acquiring an additional 16 shares during the last quarter. Arrow Financial Corp increased its holdings in shares of Deere & by 5.2% in the 2nd quarter. Arrow Financial Corp now owns 1,010 shares of the industrial products company’s stock valued at $125,000 after acquiring an additional 50 shares during the last quarter. MCF Advisors LLC increased its holdings in shares of Deere & by 26.2% in the 1st quarter. MCF Advisors LLC now owns 1,160 shares of the industrial products company’s stock valued at $126,000 after acquiring an additional 241 shares during the last quarter. Finally, Harfst & Associates Inc. increased its holdings in shares of Deere & by 44.2% in the 2nd quarter. Harfst & Associates Inc. now owns 1,175 shares of the industrial products company’s stock valued at $145,000 after acquiring an additional 360 shares during the last quarter. Institutional investors own 67.21% of the company’s stock.

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Deere & Company Profile

Deere & Company is engaged in equipment operations. The Company is engaged in providing financial services. The Company operates through three business segments: agriculture and turf, construction and forestry, and financial services. The agriculture and turf segment manufactures and distributes a line of agriculture and turf equipment and related service parts.

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