May 11, 2021

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Business is my step

Asset Advisors Investment Management LLC Lowers Stake in Deere & Company (NYSE:DE)

4 min read

Asset Advisors Investment Management LLC reduced its holdings in shares of Deere & Company (NYSE:DE) by 1.9% in the fourth quarter, HoldingsChannel reports. The fund owned 13,206 shares of the industrial products company’s stock after selling 253 shares during the period. Asset Advisors Investment Management LLC’s holdings in Deere & Company were worth $3,553,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of DE. Leelyn Smith LLC raised its holdings in Deere & Company by 2,500.0% in the fourth quarter. Leelyn Smith LLC now owns 104 shares of the industrial products company’s stock worth $28,000 after buying an additional 100 shares during the last quarter. Glassman Wealth Services raised its holdings in Deere & Company by 78.9% in the third quarter. Glassman Wealth Services now owns 127 shares of the industrial products company’s stock worth $28,000 after buying an additional 56 shares during the last quarter. Exchange Traded Concepts LLC raised its holdings in Deere & Company by 1,133.3% in the fourth quarter. Exchange Traded Concepts LLC now owns 148 shares of the industrial products company’s stock worth $40,000 after buying an additional 136 shares during the last quarter. Fiduciary Planning LLC purchased a new position in Deere & Company in the third quarter worth about $44,000. Finally, Costello Asset Management INC purchased a new position in Deere & Company in the third quarter worth about $55,000. 66.77% of the stock is owned by institutional investors.

Several research analysts have issued reports on the stock. Morgan Stanley lifted their target price on shares of Deere & Company from $335.00 to $341.00 and gave the stock an “overweight” rating in a report on Tuesday, December 15th. Citigroup lifted their price target on shares of Deere & Company from $215.00 to $250.00 and gave the stock a “neutral” rating in a research note on Monday, October 12th. JPMorgan Chase & Co. lifted their price target on shares of Deere & Company from $201.00 to $210.00 and gave the stock an “overweight” rating in a research note on Thursday, November 19th. They noted that the move was a valuation call. Vertical Research started coverage on shares of Deere & Company in a research note on Wednesday. They issued a “buy” rating and a $345.00 price target for the company. Finally, Robert W. Baird lifted their price target on shares of Deere & Company from $300.00 to $345.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 12th. Five equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. Deere & Company currently has a consensus rating of “Buy” and an average price target of $271.05.

In other Deere & Company news, CAO Marc A. Howze sold 14,619 shares of the company’s stock in a transaction that occurred on Wednesday, January 6th. The shares were sold at an average price of $289.00, for a total value of $4,224,891.00. Following the completion of the transaction, the chief accounting officer now directly owns 35,920 shares in the company, valued at $10,380,880. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Rajesh Kalathur sold 44,169 shares of the company’s stock in a transaction that occurred on Wednesday, December 2nd. The stock was sold at an average price of $257.43, for a total transaction of $11,370,425.67. Following the completion of the transaction, the insider now owns 75,454 shares of the company’s stock, valued at $19,424,123.22. The disclosure for this sale can be found here. Over the last quarter, insiders sold 121,468 shares of company stock valued at $31,836,175. Company insiders own 0.70% of the company’s stock.

NYSE DE traded up $2.02 during trading hours on Thursday, hitting $302.96. 20,376 shares of the company’s stock traded hands, compared to its average volume of 1,820,813. The business’s fifty day moving average price is $272.96 and its two-hundred day moving average price is $228.90. The company has a current ratio of 2.24, a quick ratio of 2.03 and a debt-to-equity ratio of 2.53. The firm has a market capitalization of $95.26 billion, a P/E ratio of 34.59, a P/E/G ratio of 1.43 and a beta of 0.96. Deere & Company has a 52 week low of $106.14 and a 52 week high of $306.35.

Deere & Company (NYSE:DE) last announced its earnings results on Tuesday, November 24th. The industrial products company reported $2.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $0.95. The company had revenue of $8.66 billion during the quarter, compared to analyst estimates of $7.30 billion. Deere & Company had a net margin of 7.74% and a return on equity of 22.17%. On average, sell-side analysts expect that Deere & Company will post 13.09 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 8th. Investors of record on Thursday, December 31st will be given a dividend of $0.76 per share. The ex-dividend date is Wednesday, December 30th. This represents a $3.04 annualized dividend and a yield of 1.00%. Deere & Company’s dividend payout ratio (DPR) is 34.98%.

Deere & Company Profile

Deere & Company, together with its subsidiaries, manufactures and distributes various equipment worldwide. The company operates through three segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment provides various agriculture and turf equipment, and related service parts, including large, medium, and utility tractors; tractor loaders; combines, cotton pickers, cotton strippers, and sugarcane harvesters; harvesting front-end equipment; sugarcane loaders and pull-behind scrapers; tillage, seeding, and application equipment comprising sprayers, nutrient management, and soil preparation machinery; self-propelled forage harvesters and attachments, balers, and mowers; riding lawn equipment, golf course equipment, utility vehicles, and commercial mowing equipment along with associated implements; integrated agricultural solutions and precision technologies; and other outdoor power products.

Featured Story: Hedge Funds

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



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