Elo Mutual Pension Insurance Co Sells 1,592 Shares of Deere & Company (NYSE:DE)

Elo Mutual Pension Insurance Co lowered its holdings in shares of Deere & Company (NYSE:DE) by 6.6% during the second quarter, Holdings Channel reports. The firm owned 22,712 shares of the industrial products company’s stock after selling 1,592 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Deere & Company were worth $8,486,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. True Wealth Design LLC raised its holdings in Deere & Company by 1,180.0% in the 4th quarter. True Wealth Design LLC now owns 64 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 59 shares during the period. Pineridge Advisors LLC grew its position in shares of Deere & Company by 725.0% in the first quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 58 shares during the last quarter. Livelsberger Financial Advisory bought a new position in shares of Deere & Company in the fourth quarter worth about $30,000. Spartan Planning & Wealth Management acquired a new position in shares of Deere & Company during the 4th quarter worth about $33,000. Finally, Core Wealth Advisors Inc. grew its holdings in Deere & Company by 466.7% in the 4th quarter. Core Wealth Advisors Inc. now owns 85 shares of the industrial products company’s stock valued at $34,000 after buying an additional 70 shares during the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Insiders Place Their Bets

In other news, insider Cory J. Reed sold 13,370 shares of the stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $377.63, for a total value of $5,048,913.10. Following the completion of the sale, the insider now owns 41,642 shares of the company’s stock, valued at approximately $15,725,268.46. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.26% of the company’s stock.

Deere & Company Stock Performance

Shares of DE stock opened at $397.91 on Wednesday. Deere & Company has a 12 month low of $340.20 and a 12 month high of $417.46. The company’s fifty day simple moving average is $373.48 and its 200-day simple moving average is $382.05. The firm has a market cap of $109.65 billion, a PE ratio of 11.98, a P/E/G ratio of 1.29 and a beta of 0.92. The company has a quick ratio of 1.87, a current ratio of 2.07 and a debt-to-equity ratio of 1.85.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, topping analysts’ consensus estimates of $5.63 by $0.66. The company had revenue of $11.39 billion during the quarter, compared to the consensus estimate of $10.94 billion. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The company’s quarterly revenue was down 20.3% on a year-over-year basis. During the same period in the prior year, the business posted $10.20 EPS. Equities research analysts expect that Deere & Company will post 25.07 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Monday, September 30th will be given a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a dividend yield of 1.48%. The ex-dividend date is Monday, September 30th. Deere & Company’s dividend payout ratio (DPR) is 17.70%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on DE. Oppenheimer dropped their target price on shares of Deere & Company from $465.00 to $448.00 and set an “outperform” rating on the stock in a research report on Monday, July 22nd. Deutsche Bank Aktiengesellschaft decreased their price objective on Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a report on Thursday, August 8th. Morgan Stanley cut their target price on Deere & Company from $450.00 to $425.00 and set an “overweight” rating for the company in a research note on Monday, August 26th. Citigroup reduced their price objective on shares of Deere & Company from $395.00 to $370.00 and set a “neutral” rating for the company in a report on Tuesday, August 13th. Finally, Hsbc Global Res downgraded Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 19th. Fourteen analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $409.88.

Deere & Company Company Profile

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.