Matthew 25 Management Corp Sells 13,500 Shares of Deere & Company (NYSE:DE)

Matthew 25 Management Corp reduced its position in shares of Deere & Company (NYSE:DE) by 81.8% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 3,000 shares of the industrial products company’s stock after selling 13,500 shares during the quarter. Deere & Company makes up 0.4% of Matthew 25 Management Corp’s investment portfolio, making the stock its 19th largest holding. Matthew 25 Management Corp’s holdings in Deere & Company were worth $1,121,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. International Assets Investment Management LLC raised its stake in shares of Deere & Company by 15.9% in the 4th quarter. International Assets Investment Management LLC now owns 2,102 shares of the industrial products company’s stock valued at $841,000 after buying an additional 288 shares in the last quarter. Gilbert & Cook Inc. increased its position in shares of Deere & Company by 5.4% during the 4th quarter. Gilbert & Cook Inc. now owns 1,978 shares of the industrial products company’s stock worth $791,000 after purchasing an additional 102 shares in the last quarter. 9258 Wealth Management LLC increased its position in shares of Deere & Company by 9.8% during the 4th quarter. 9258 Wealth Management LLC now owns 1,975 shares of the industrial products company’s stock worth $790,000 after purchasing an additional 176 shares in the last quarter. Gryphon Financial Partners LLC increased its position in shares of Deere & Company by 62.9% during the 4th quarter. Gryphon Financial Partners LLC now owns 1,430 shares of the industrial products company’s stock worth $551,000 after purchasing an additional 552 shares in the last quarter. Finally, Wealthspire Advisors LLC increased its position in shares of Deere & Company by 25.0% during the 4th quarter. Wealthspire Advisors LLC now owns 1,994 shares of the industrial products company’s stock worth $797,000 after purchasing an additional 399 shares in the last quarter. 68.58% of the stock is owned by institutional investors.

Insider Activity

In other news, insider Cory J. Reed sold 13,370 shares of Deere & Company stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $377.63, for a total value of $5,048,913.10. Following the sale, the insider now directly owns 41,642 shares in the company, valued at $15,725,268.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.26% of the stock is owned by corporate insiders.

Deere & Company Stock Down 0.6 %

DE stock traded down $2.13 during mid-day trading on Friday, hitting $381.56. 1,670,319 shares of the company were exchanged, compared to its average volume of 1,536,021. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.87 and a current ratio of 2.07. The firm has a market cap of $105.15 billion, a P/E ratio of 11.49, a P/E/G ratio of 1.28 and a beta of 0.92. The firm’s 50 day simple moving average is $369.04 and its 200 day simple moving average is $380.35. Deere & Company has a 1-year low of $340.20 and a 1-year high of $417.46.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.63 by $0.66. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The company had revenue of $11.39 billion for the quarter, compared to the consensus estimate of $10.94 billion. During the same period last year, the company earned $10.20 earnings per share. The firm’s revenue was down 20.3% compared to the same quarter last year. On average, sell-side analysts predict that Deere & Company will post 25.09 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Monday, September 30th will be issued a $1.47 dividend. The ex-dividend date is Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.54%. Deere & Company’s dividend payout ratio (DPR) is presently 17.70%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on DE. Truist Financial reiterated a “buy” rating and set a $443.00 target price (up previously from $439.00) on shares of Deere & Company in a research report on Friday, August 16th. Hsbc Global Res cut shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 19th. HSBC cut shares of Deere & Company from a “buy” rating to a “hold” rating in a research report on Monday, August 19th. Citigroup decreased their price objective on shares of Deere & Company from $395.00 to $370.00 and set a “neutral” rating on the stock in a report on Tuesday, August 13th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Deere & Company from $375.00 to $360.00 and set a “neutral” rating on the stock in a report on Tuesday, August 13th. Fourteen research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $414.11.

Deere & Company Profile

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.