Deere & Company $DE Shares Acquired by Fayez Sarofim & Co

Fayez Sarofim & Co lifted its holdings in shares of Deere & Company (NYSE:DE) by 4.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 409,329 shares of the industrial products company’s stock after purchasing an additional 17,573 shares during the period. Fayez Sarofim & Co’s holdings in Deere & Company were worth $210,804,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of DE. Brighton Jones LLC lifted its position in shares of Deere & Company by 39.1% in the fourth quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company’s stock valued at $1,927,000 after acquiring an additional 1,278 shares in the last quarter. Zions Bancorporation National Association UT acquired a new position in Deere & Company in the 1st quarter valued at about $204,000. Cooper Financial Group lifted its holdings in Deere & Company by 6.3% in the 1st quarter. Cooper Financial Group now owns 1,086 shares of the industrial products company’s stock valued at $510,000 after purchasing an additional 64 shares in the last quarter. Cobblestone Capital Advisors LLC NY lifted its holdings in Deere & Company by 1.2% in the 1st quarter. Cobblestone Capital Advisors LLC NY now owns 2,109 shares of the industrial products company’s stock valued at $990,000 after purchasing an additional 24 shares in the last quarter. Finally, SouthState Corp boosted its stake in shares of Deere & Company by 6.9% during the 1st quarter. SouthState Corp now owns 2,217 shares of the industrial products company’s stock worth $1,041,000 after purchasing an additional 143 shares during the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Insider Transactions at Deere & Company

In related news, CEO John C. May II sold 11,106 shares of the firm’s stock in a transaction that occurred on Tuesday, November 25th. The shares were 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 in the company, valued at approximately $56,235,496.24. This trade represents a 8.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on DE shares. DA Davidson reissued a “buy” rating and issued a $580.00 price objective on shares of Deere & Company in a research report on Monday, December 1st. Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of Deere & Company in a report on Monday, December 1st. Sanford C. Bernstein increased their price target on Deere & Company from $487.00 to $521.00 and gave the stock a “market perform” rating in a research note on Thursday, November 13th. Royal Bank Of Canada decreased their price objective on Deere & Company from $542.00 to $541.00 and set an “outperform” rating on the stock in a report on Friday, November 28th. Finally, Zacks Research upgraded Deere & Company from a “strong sell” rating to a “hold” rating in a research report on Wednesday, December 3rd. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $518.95.

Deere & Company Trading Down 1.9%

DE stock opened at $466.15 on Tuesday. The company has a market cap of $126.01 billion, a price-to-earnings ratio of 25.18, a PEG ratio of 1.75 and a beta of 1.00. The company has a quick ratio of 2.01, a current ratio of 2.22 and a debt-to-equity ratio of 1.68. The business has a fifty day simple moving average of $467.83 and a 200-day simple moving average of $488.42. Deere & Company has a 52 week low of $403.01 and a 52 week high of $533.78.

Deere & Company (NYSE:DE) last issued its earnings results on Wednesday, November 26th. The industrial products company reported $3.93 earnings per share for the quarter, missing analysts’ consensus estimates of $3.96 by ($0.03). Deere & Company had a net margin of 11.00% and a return on equity of 20.54%. The firm had revenue of $12.39 billion during the quarter, compared to analyst estimates of $9.77 billion. During the same quarter 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. On average, equities research analysts expect that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Announces Dividend

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

Deere & Company Profile

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.