IQ EQ FUND MANAGEMENT IRELAND Ltd Grows Stake in Deere & Company $DE

IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its position in Deere & Company (NYSE:DEFree Report) by 42.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 36,454 shares of the industrial products company’s stock after buying an additional 10,798 shares during the quarter. Deere & Company makes up about 1.1% of IQ EQ FUND MANAGEMENT IRELAND Ltd’s investment portfolio, making the stock its 20th biggest holding. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Deere & Company were worth $16,669,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Mid American Wealth Advisory Group Inc. acquired a new position in shares of Deere & Company in the 2nd quarter valued at about $25,000. Howard Hughes Medical Institute acquired a new position in Deere & Company in the second quarter valued at approximately $27,000. Activest Wealth Management grew its holdings in shares of Deere & Company by 69.2% during the third quarter. Activest Wealth Management now owns 66 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 27 shares during the last quarter. Center for Financial Planning Inc. raised its position in shares of Deere & Company by 406.7% during the 2nd quarter. Center for Financial Planning Inc. now owns 76 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 61 shares during the period. Finally, Soundwatch Capital LLC acquired a new stake in shares of Deere & Company during the 2nd quarter worth approximately $41,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company News Roundup

Here are the key news stories impacting Deere & Company this week:

Deere & Company Trading Down 0.2%

Shares of DE stock opened at $565.95 on Friday. Deere & Company has a fifty-two week low of $404.42 and a fifty-two week high of $574.94. 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 stock has a 50-day simple moving average of $492.88 and a 200 day simple moving average of $483.86. The stock has a market capitalization of $153.41 billion, a P/E ratio of 30.58, a P/E/G ratio of 2.26 and a beta of 1.02.

Deere & Company (NYSE:DEGet Free Report) last announced its quarterly earnings data on Wednesday, November 26th. The industrial products company reported $3.93 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.96 by ($0.03). The business had revenue of $12.39 billion during the quarter, compared to analyst estimates of $9.77 billion. Deere & Company had a return on equity of 20.54% and a net margin of 11.00%.The business’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same period in the prior year, the firm earned $4.55 EPS. On average, sell-side analysts expect that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

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 issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Wednesday, December 31st. Deere & Company’s payout ratio is presently 35.01%.

Insiders Place Their Bets

In other news, insider Cory J. Reed sold 12,000 shares of the business’s stock in a transaction on 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 directly owned 20,792 shares of the company’s stock, valued at $10,603,920. The trade was a 36.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO John C. May II sold 41,472 shares of the company’s stock in a transaction on Thursday, January 8th. The shares were sold at an average price of $501.49, for a total value of $20,797,793.28. Following the sale, the chief executive officer directly 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 disclosure for this sale is available in the SEC filing. Insiders sold a total of 64,578 shares of company stock worth $32,471,682 over the last 90 days. Insiders own 0.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on DE shares. Robert W. Baird dropped their target price on Deere & Company from $488.00 to $467.00 and set a “neutral” rating on the stock in a research report on Monday, October 13th. UBS Group reiterated a “buy” rating on shares of Deere & Company in a research report on Tuesday, November 25th. Truist Financial upped their target price on shares of Deere & Company from $609.00 to $612.00 and gave the stock a “buy” rating in a research report on Friday, November 28th. Wolfe Research boosted their price objective on Deere & Company from $520.00 to $550.00 and gave the stock an “outperform” rating in a research report on Friday, January 2nd. Finally, Morgan Stanley restated an “overweight” rating and issued a $560.00 target price on shares of Deere & Company in a research report on Tuesday, December 9th. Fifteen analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $524.20.

Get Our Latest Analysis on Deere & Company

Deere & Company Company Profile

(Free Report)

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.

Featured Stories

Institutional Ownership by Quarter for Deere & Company (NYSE:DE)

Receive News & Ratings for Deere & Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Deere & Company and related companies with MarketBeat.com's FREE daily email newsletter.