Insider Selling: Deere & Company (NYSE:DE) Insider Sells $1,936,800.00 in Stock

Deere & Company (NYSE:DE) insider Rajesh Kalathur sold 10,760 shares of the stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $180.00, for a total transaction of $1,936,800.00. Following the transaction, the insider now owns 62,131 shares of the company’s stock, valued at approximately $11,183,580. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Rajesh Kalathur also recently made the following trade(s):

  • On Thursday, July 16th, Rajesh Kalathur sold 7,379 shares of Deere & Company stock. The stock was sold at an average price of $175.00, for a total transaction of $1,291,325.00.

NYSE:DE opened at $176.31 on Friday. The firm’s 50 day simple moving average is $162.47 and its 200 day simple moving average is $153.31. The company has a debt-to-equity ratio of 2.89, a current ratio of 2.20 and a quick ratio of 1.95. Deere & Company has a one year low of $106.14 and a one year high of $181.99. The company has a market cap of $55.16 billion, a PE ratio of 19.99, a P/E/G ratio of 4.09 and a beta of 0.95.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Friday, May 22nd. The industrial products company reported $2.11 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.62 by $0.49. The firm had revenue of $8.22 billion for the quarter, compared to the consensus estimate of $7.68 billion. Deere & Company had a net margin of 7.62% and a return on equity of 23.01%. The company’s revenue for the quarter was down 19.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.52 EPS. Equities research analysts expect that Deere & Company will post 6.22 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Tuesday, June 30th will be given a $0.76 dividend. The ex-dividend date is Monday, June 29th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 1.72%. Deere & Company’s dividend payout ratio (DPR) is currently 30.58%.

DE has been the subject of several recent research reports. Robert W. Baird upgraded shares of Deere & Company from a “neutral” rating to an “outperform” rating and set a $189.00 target price for the company in a report on Monday, July 13th. Jefferies Financial Group raised their price target on shares of Deere & Company from $165.00 to $200.00 and gave the stock a “buy” rating in a research report on Friday, July 17th. Morgan Stanley raised their price target on shares of Deere & Company from $171.00 to $181.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 26th. Wells Fargo & Co lowered their price target on shares of Deere & Company from $160.00 to $145.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 16th. Finally, William Blair raised shares of Deere & Company from a “market perform” rating to an “outperform” rating in a report on Thursday, May 28th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $177.15.

A number of hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC increased its stake in Deere & Company by 1.0% during the 1st quarter. Geode Capital Management LLC now owns 4,336,612 shares of the industrial products company’s stock valued at $597,846,000 after purchasing an additional 44,733 shares in the last quarter. First Eagle Investment Management LLC increased its stake in Deere & Company by 0.9% during the 1st quarter. First Eagle Investment Management LLC now owns 4,144,431 shares of the industrial products company’s stock valued at $572,595,000 after purchasing an additional 38,464 shares in the last quarter. Parnassus Investments CA increased its stake in Deere & Company by 52.3% during the 1st quarter. Parnassus Investments CA now owns 3,684,560 shares of the industrial products company’s stock valued at $509,059,000 after purchasing an additional 1,264,927 shares in the last quarter. Rothschild & Co Wealth Management UK Ltd boosted its holdings in Deere & Company by 18.8% during the 2nd quarter. Rothschild & Co Wealth Management UK Ltd now owns 2,443,902 shares of the industrial products company’s stock worth $384,059,000 after acquiring an additional 387,574 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in Deere & Company by 33.7% during the 1st quarter. Invesco Ltd. now owns 2,221,944 shares of the industrial products company’s stock worth $306,983,000 after acquiring an additional 559,576 shares during the last quarter. Institutional investors and hedge funds own 67.00% of the company’s stock.

Deere & Company Company Profile

Deere & Company 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 offers agriculture and turf equipment, and related 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; and tillage, seeding, and application equipment.

Read More: Why do analysts give a neutral rating?

Insider Buying and Selling by Quarter for Deere & Company (NYSE:DE)

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