Investors Buy Shares of Deere & Company (DE) on Weakness After Insider Selling

Investors bought shares of Deere & Company (NYSE:DE) on weakness during trading on Wednesday after an insider sold shares in the company. $227.11 million flowed into the stock on the tick-up and $174.06 million flowed out of the stock on the tick-down, for a money net flow of $53.05 million into the stock. Of all companies tracked, Deere & Company had the 22nd highest net in-flow for the day. Deere & Company traded down ($0.66) for the day and closed at $164.94Specifically, insider John C. May II sold 18,626 shares of Deere & Company stock in a transaction that occurred on Tuesday, October 24th. The stock was sold at an average price of $130.76, for a total value of $2,435,535.76. Following the sale, the insider now directly owns 37,462 shares of the company’s stock, valued at $4,898,531.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Mary K.W. Jones sold 10,220 shares of Deere & Company stock in a transaction that occurred on Tuesday, January 9th. The stock was sold at an average price of $165.06, for a total value of $1,686,913.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 212,767 shares of company stock worth $30,215,798. 0.75% of the stock is owned by corporate insiders.

A number of analysts have recently issued reports on the company. Royal Bank of Canada raised Deere & Company from a “sector perform” rating to an “outperform” rating and lowered their price target for the stock from $190.00 to $155.00 in a research note on Wednesday. Wells Fargo & Co reaffirmed an “outperform” rating and issued a $200.00 price target (up from $170.00) on shares of Deere & Company in a research note on Wednesday. Barclays raised Deere & Company from a “sector perform” rating to an “outperform” rating and set a $171.00 price target on the stock in a research note on Wednesday. Jefferies Group reaffirmed a “hold” rating and issued a $150.00 price target on shares of Deere & Company in a research note on Thursday, November 23rd. Finally, Robert W. Baird reiterated a “hold” rating and set a $140.00 price objective on shares of Deere & Company in a research report on Thursday, October 12th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and fourteen have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $145.38.

The company has a current ratio of 2.12, a quick ratio of 1.95 and a debt-to-equity ratio of 2.71. The firm has a market cap of $52,990.00, a price-to-earnings ratio of 24.80, a PEG ratio of 2.46 and a beta of 0.77.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Wednesday, November 22nd. The industrial products company reported $1.57 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate 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 previous year, the business earned $0.90 EPS. The company’s quarterly revenue was up 25.6% compared to the same quarter last year. research analysts expect that Deere & Company will post 7.95 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 1st. Investors of record on Friday, December 29th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $2.40 annualized dividend and a yield of 1.46%. Deere & Company’s payout ratio is 36.09%.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. QCI Asset Management Inc. NY lifted its holdings in shares of Deere & Company by 18.8% in the 2nd quarter. QCI Asset Management Inc. NY now owns 950 shares of the industrial products company’s stock valued at $117,000 after purchasing an additional 150 shares during the last quarter. Wealthcare Advisory Partners LLC purchased a new stake in shares of Deere & Company in the 3rd quarter valued at about $144,000. Harfst & Associates Inc. lifted its holdings in shares of Deere & Company by 44.2% in the 2nd quarter. Harfst & Associates Inc. now owns 1,175 shares of the industrial products company’s stock valued at $145,000 after purchasing an additional 360 shares during the last quarter. YorkBridge Wealth Partners LLC lifted its holdings in shares of 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 purchasing an additional 13 shares during the last quarter. Finally, San Francisco Sentry Investment Group CA purchased a new stake in shares of Deere & Company in the 2nd quarter valued at about $155,000. 67.36% of the stock is owned by hedge funds and other institutional investors.

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About Deere & Company

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.

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