John C. May II Sells 16,468 Shares of Deere & Company (NYSE:DE) Stock

Deere & Company (NYSE:DE) COO John C. May II sold 16,468 shares of Deere & Company stock in a transaction on Friday, June 21st. The shares were sold at an average price of $163.21, for a total transaction of $2,687,742.28. Following the completion of the transaction, the chief operating officer now owns 60,550 shares in the company, valued at $9,882,365.50. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Shares of NYSE DE opened at $166.31 on Wednesday. The stock has a market cap of $52.08 billion, a price-to-earnings ratio of 17.71, a P/E/G ratio of 1.56 and a beta of 1.02. Deere & Company has a one year low of $128.32 and a one year high of $169.99. The stock’s fifty day moving average is $148.35. The company has a quick ratio of 1.66, a current ratio of 1.94 and a debt-to-equity ratio of 2.37.

Deere & Company (NYSE:DE) last issued its earnings results on Friday, May 17th. The industrial products company reported $3.52 EPS for the quarter, missing the consensus estimate of $3.57 by ($0.05). The company had revenue of $10.27 billion for the quarter, compared to analysts’ expectations of $10.19 billion. Deere & Company had a return on equity of 28.76% and a net margin of 8.52%. Deere & Company’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.14 earnings per share. As a group, equities research analysts forecast that Deere & Company will post 10.27 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Friday, June 28th will be given a $0.76 dividend. The ex-dividend date is Thursday, June 27th. This represents a $3.04 annualized dividend and a dividend yield of 1.83%. Deere & Company’s dividend payout ratio is presently 32.37%.

Several institutional investors have recently added to or reduced their stakes in DE. Private Ocean LLC raised its stake in Deere & Company by 560.0% in the 1st quarter. Private Ocean LLC now owns 198 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 168 shares during the last quarter. Ellis Investment Partners LLC acquired a new position in Deere & Company in the 1st quarter valued at about $33,000. Field & Main Bank acquired a new position in Deere & Company in the 1st quarter valued at about $40,000. Berman Capital Advisors LLC acquired a new position in Deere & Company in the 4th quarter valued at about $44,000. Finally, Vestor Capital LLC acquired a new position in Deere & Company in the 4th quarter valued at about $45,000. Institutional investors and hedge funds own 68.04% of the company’s stock.

A number of equities analysts recently weighed in on the stock. Berenberg Bank assumed coverage on shares of Deere & Company in a research report on Thursday, May 9th. They issued a “hold” rating on the stock. Morgan Stanley lowered their price objective on shares of Deere & Company from $192.00 to $158.00 and set an “overweight” rating on the stock in a research report on Monday, May 20th. UBS Group lowered their price objective on shares of Deere & Company from $177.00 to $158.00 and set a “buy” rating on the stock in a research report on Thursday, May 23rd. Stifel Nicolaus lowered their price objective on shares of Deere & Company from $180.00 to $171.00 and set a “buy” rating on the stock in a research report on Monday, May 20th. Finally, Robert W. Baird lowered shares of Deere & Company from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $166.00 to $150.00 in a research report on Monday, May 13th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and fourteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $167.17.

Deere & Company Company Profile

Deere & Company manufactures and distributes various equipment worldwide. The company operates through three segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment offers agriculture and turf equipment, and related parts, including large, medium, and utility tractors; tractor loaders; combines, cotton pickers, cotton strippers, and sugarcane harvesters; harvesting front-end equipment; sugarcane loaders and pull-behind scrapers; and tillage, seeding, and application equipment.

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