Sterling Investment Counsel LLC Purchases 1,145 Shares of Deere & Company $DE

Sterling Investment Counsel LLC lifted its position in shares of Deere & Company (NYSE:DE) by 250.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,602 shares of the industrial products company’s stock after buying an additional 1,145 shares during the period. Sterling Investment Counsel LLC’s holdings in Deere & Company were worth $732,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank bought a new stake in shares of Deere & Company in the 2nd quarter worth approximately $1,578,243,000. Marshall Wace LLP lifted its stake in Deere & Company by 573.9% in the second quarter. Marshall Wace LLP now owns 842,882 shares of the industrial products company’s stock worth $428,597,000 after purchasing an additional 717,808 shares during the last quarter. TD Asset Management Inc boosted its position in Deere & Company by 132.0% during the second quarter. TD Asset Management Inc now owns 721,638 shares of the industrial products company’s stock valued at $366,946,000 after buying an additional 410,636 shares during the period. Voya Investment Management LLC grew its stake in shares of Deere & Company by 97.1% during the first quarter. Voya Investment Management LLC now owns 733,871 shares of the industrial products company’s stock valued at $344,442,000 after buying an additional 361,526 shares during the last quarter. Finally, Laurel Wealth Advisors LLC increased its holdings in shares of Deere & Company by 50,691.9% in the second quarter. Laurel Wealth Advisors LLC now owns 332,179 shares of the industrial products company’s stock worth $168,910,000 after buying an additional 331,525 shares during the period. 68.58% of the stock is currently owned by institutional investors.

Insider Transactions at Deere & Company

In other news, CEO John C. May II sold 11,106 shares of the firm’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $500.08, for a total transaction of $5,553,888.48. Following the sale, the chief executive officer owned 112,453 shares of the company’s stock, valued at $56,235,496.24. This trade represents a 8.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.29% of the company’s stock.

Deere & Company Stock Performance

DE stock opened at $465.73 on Friday. The stock’s 50 day simple moving average is $473.45 and its 200 day simple moving average is $483.81. The company has a current ratio of 2.22, a quick ratio of 2.01 and a debt-to-equity ratio of 1.68. Deere & Company has a 12-month low of $403.01 and a 12-month high of $533.78. The stock has a market capitalization of $125.96 billion, a PE ratio of 25.16, a price-to-earnings-growth ratio of 1.78 and a beta of 1.00.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Wednesday, November 26th. The industrial products company reported $3.93 earnings per share for the quarter, missing the consensus estimate of $3.96 by ($0.03). Deere & Company had a return on equity of 20.54% and a net margin of 11.00%.The business had revenue of $12.39 billion during the quarter, compared to analysts’ expectations of $9.77 billion. During the same quarter in the prior year, the firm earned $4.55 EPS. The firm’s revenue for the quarter was up 14.1% compared to the same quarter last year. As a group, research analysts forecast that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, February 9th. Shareholders of record on Wednesday, December 31st will be paid a dividend of $1.62 per share. The ex-dividend date is Wednesday, December 31st. This represents a $6.48 annualized dividend and a yield of 1.4%. Deere & Company’s dividend payout ratio is currently 35.01%.

Analyst Ratings Changes

DE has been the topic of several recent analyst reports. Keefe, Bruyette & Woods restated an “outperform” rating on shares of Deere & Company in a report on Monday, December 1st. Weiss Ratings reiterated a “hold (c+)” rating on shares of Deere & Company in a report on Monday. Sanford C. Bernstein reiterated a “market perform” rating on shares of Deere & Company in a research note on Tuesday, December 9th. DA Davidson reiterated a “buy” rating and set a $580.00 target price on shares of Deere & Company in a report on Monday, December 1st. Finally, JPMorgan Chase & Co. lowered their price objective on Deere & Company from $480.00 to $460.00 and set a “neutral” rating for the company in a research note on Friday, December 19th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $522.70.

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.