Vest Financial LLC Acquires 1,274 Shares of Deere & Company $DE

Vest Financial LLC boosted its stake in shares of Deere & Company (NYSE:DE) by 23.8% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 6,616 shares of the industrial products company’s stock after purchasing an additional 1,274 shares during the period. Vest Financial LLC’s holdings in Deere & Company were worth $3,025,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in DE. Mid American Wealth Advisory Group Inc. purchased a new stake in shares of Deere & Company during the 2nd quarter worth approximately $25,000. Howard Hughes Medical Institute purchased a new position in Deere & Company in the second quarter valued at approximately $27,000. Center for Financial Planning Inc. grew its holdings in Deere & Company by 406.7% during the second quarter. Center for Financial Planning Inc. now owns 76 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 61 shares during the period. Soundwatch Capital LLC bought a new position in Deere & Company during the second quarter valued at $41,000. Finally, Lynch Asset Management Inc. purchased a new stake in Deere & Company in the third quarter worth $46,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Trading Down 1.5%

Shares of Deere & Company stock opened at $521.67 on Friday. Deere & Company has a 12-month low of $404.42 and a 12-month high of $533.78. The company has a market cap of $141.41 billion, a price-to-earnings ratio of 28.18, a PEG ratio of 2.02 and a beta of 1.00. The company has a current ratio of 2.22, a quick ratio of 2.01 and a debt-to-equity ratio of 1.68. The company’s 50-day moving average price is $481.83 and its 200-day moving average price is $482.02.

Deere & Company (NYSE:DE) last issued 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 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%. Deere & Company’s revenue was up 14.1% on a year-over-year basis. During the same period in the prior year, the firm posted $4.55 EPS. On average, equities analysts expect that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 9th. Stockholders of record on Wednesday, December 31st will be issued a $1.62 dividend. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $6.48 annualized dividend and a dividend yield of 1.2%. Deere & Company’s dividend payout ratio is presently 35.01%.

Insiders Place Their Bets

In related news, 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 sale, the chief executive officer owned 117,970 shares in the company, valued at approximately $59,160,775.30. This trade represents a 26.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 value of $6,120,000.00. Following the transaction, the insider owned 20,792 shares of the company’s stock, valued at approximately $10,603,920. The trade was a 36.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 64,578 shares of company stock worth $32,471,682 in the last quarter. 0.29% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on DE shares. Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of Deere & Company in a research report on Monday, December 1st. Morgan Stanley restated an “overweight” rating and issued a $560.00 price objective on shares of Deere & Company in a research note on Tuesday, December 9th. Oppenheimer upped their price objective on shares of Deere & Company from $512.00 to $531.00 and gave the company an “outperform” rating in a report on Friday, November 28th. Zacks Research upgraded shares of Deere & Company from a “strong sell” rating to a “hold” rating in a research note on Wednesday, December 3rd. Finally, BMO Capital Markets restated a “market perform” rating and set a $460.00 price target on shares of Deere & Company in a research note on Tuesday, December 9th. Fifteen research 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 company currently has an average rating of “Moderate Buy” and an average target price of $524.20.

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.