Deere & Company (DE) Shares Sold by Prudential Financial Inc.

Prudential Financial Inc. lowered its stake in Deere & Company (NYSE:DE) by 6.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 608,018 shares of the industrial products company’s stock after selling 41,830 shares during the quarter. Prudential Financial Inc. owned about 0.19% of Deere & Company worth $76,361,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Marco Investment Management LLC lifted its holdings in Deere & Company by 0.3% in the 2nd quarter. Marco Investment Management LLC now owns 1,874 shares of the industrial products company’s stock valued at $232,000 after acquiring an additional 6 shares during the last quarter. Blue Chip Partners Inc. lifted its holdings in Deere & Company by 0.3% in the 2nd quarter. Blue Chip Partners Inc. now owns 3,687 shares of the industrial products company’s stock valued at $456,000 after acquiring an additional 10 shares during the last quarter. Northwest Quadrant Wealth Management LLC lifted its holdings in Deere & Company by 0.4% in the 2nd quarter. Northwest Quadrant Wealth Management LLC now owns 3,165 shares of the industrial products company’s stock valued at $418,000 after acquiring an additional 13 shares during the last quarter. YorkBridge Wealth Partners LLC lifted its holdings in Deere & Company by 1.1% in the 2nd quarter. YorkBridge Wealth Partners LLC now owns 1,236 shares of the industrial products company’s stock valued at $154,000 after acquiring an additional 13 shares during the last quarter. Finally, MAI Capital Management lifted its holdings in Deere & Company by 0.6% in the 2nd quarter. MAI Capital Management now owns 6,776 shares of the industrial products company’s stock valued at $837,000 after acquiring an additional 40 shares during the last quarter. 67.36% of the stock is owned by institutional investors and hedge funds.

In other news, insider Cory J. Reed sold 6,416 shares of the stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $151.54, for a total value of $972,280.64. Following the completion of the sale, the insider now directly owns 11,383 shares of the company’s stock, valued at $1,724,979.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John C. May II sold 18,626 shares of the stock in a transaction that occurred on Tuesday, October 24th. The shares were sold at an average price of $130.76, for a total value of $2,435,535.76. Following the completion of the sale, the insider now directly owns 37,462 shares of the company’s stock, valued at $4,898,531.12. The disclosure for this sale can be found here. Insiders have sold 202,547 shares of company stock valued at $28,528,885 in the last ninety days. Company insiders own 0.85% of the company’s stock.

Deere & Company (NYSE DE) opened at $159.64 on Friday. Deere & Company has a twelve month low of $103.99 and a twelve month high of $160.10. The company has a market capitalization of $51,205.50, a P/E ratio of 24.04, a P/E/G ratio of 2.44 and a beta of 0.77. The company has a quick ratio of 1.95, a current ratio of 2.12 and a debt-to-equity ratio of 2.71.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Wednesday, November 22nd. The industrial products company reported $1.57 EPS for the quarter, topping analysts’ consensus estimates of $1.47 by $0.10. Deere & Company had a return on equity of 26.31% and a net margin of 7.22%. The firm had revenue of $7.09 billion for the quarter, compared to the consensus estimate of $6.91 billion. During the same quarter in the prior year, the company posted $0.90 earnings per share. The firm’s revenue was up 25.6% on a year-over-year basis. analysts expect that Deere & Company will post 7.94 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Friday, December 29th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $2.40 dividend on an annualized basis and a yield of 1.50%. Deere & Company’s payout ratio is currently 36.14%.

DE has been the subject of a number of research analyst reports. Deutsche Bank raised shares of Deere & Company from a “hold” rating to a “buy” rating and upped their price target for the company from $149.00 to $167.00 in a report on Thursday, November 23rd. Zacks Investment Research raised shares of Deere & Company from a “hold” rating to a “buy” rating and set a $150.00 price objective for the company in a research note on Thursday, November 2nd. Barclays assumed coverage on shares of Deere & Company in a research note on Tuesday, December 12th. They set an “overweight” rating and a $167.00 price objective for the company. Credit Suisse Group reaffirmed a “buy” rating and set a $162.00 price objective on shares of Deere & Company in a research note on Thursday, November 23rd. Finally, BMO Capital Markets reaffirmed a “buy” rating and set a $150.00 price objective on shares of Deere & Company in a research note on Thursday, November 2nd. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and thirteen have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $143.68.

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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.

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

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