Russell Investments Group Ltd. Sells 16,551 Shares of Deere & Company $DE

Russell Investments Group Ltd. reduced its position in shares of Deere & Company (NYSE:DE) by 6.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 228,929 shares of the industrial products company’s stock after selling 16,551 shares during the period. Russell Investments Group Ltd.’s holdings in Deere & Company were worth $116,485,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Nuveen LLC acquired a new stake in shares of Deere & Company in the first quarter valued at approximately $571,073,000. TD Asset Management Inc grew its position in shares of Deere & Company by 132.0% in the 2nd quarter. TD Asset Management Inc now owns 721,638 shares of the industrial products company’s stock valued at $366,946,000 after purchasing an additional 410,636 shares during the period. Voya Investment Management LLC grew its holdings 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 worth $344,442,000 after buying an additional 361,526 shares in the last quarter. Laurel Wealth Advisors LLC increased its position 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 valued at $168,910,000 after acquiring an additional 331,525 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Deere & Company by 1.4% during the 2nd quarter. Vanguard Group Inc. now owns 22,372,671 shares of the industrial products company’s stock worth $11,376,279,000 after purchasing an additional 309,081 shares during the last quarter. Institutional investors own 68.58% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on DE. Jefferies Financial Group lowered their price objective on Deere & Company from $510.00 to $440.00 and set a “hold” rating on the stock in a research report on Wednesday, October 8th. Truist Financial upped their price objective on shares of Deere & Company from $602.00 to $609.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. JPMorgan Chase & Co. reduced their price target on Deere & Company from $495.00 to $480.00 and set a “neutral” rating on the stock in a report on Tuesday, October 14th. UBS Group restated a “buy” rating on shares of Deere & Company in a report on Tuesday. Finally, Citigroup decreased their target price on shares of Deere & Company from $525.00 to $515.00 and set a “neutral” rating for the company in a research report on Tuesday, October 7th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $519.85.

Deere & Company Trading Down 5.7%

NYSE DE opened at $469.95 on Thursday. The company has a market cap of $127.04 billion, a price-to-earnings ratio of 24.57, a P/E/G ratio of 3.05 and a beta of 1.04. The business has a 50 day moving average price of $467.30 and a 200-day moving average price of $490.94. Deere & Company has a 52 week low of $403.01 and a 52 week high of $533.78. The company has a quick ratio of 1.98, a current ratio of 2.19 and a debt-to-equity ratio of 1.76.

Deere & Company (NYSE:DE) last announced 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 net margin of 11.72% and a return on equity of 21.97%. The business had revenue of $12.39 billion during the quarter, compared to the consensus estimate of $9.77 billion. During the same period in the previous year, the business posted $4.55 EPS. Deere & Company’s revenue was up 14.1% compared to the same quarter last year. As a group, equities analysts expect that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Insider Activity at Deere & Company

In other Deere & Company news, CEO John C. May II sold 11,106 shares of the business’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $500.08, for a total value of $5,553,888.48. Following the transaction, the chief executive officer owned 112,453 shares of the company’s stock, valued at approximately $56,235,496.24. The trade was a 8.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.29% of the company’s stock.

About Deere & Company

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.