Traders Buy Shares of Deere & Company (DE) on Weakness on Insider Selling

Investors purchased shares of Deere & Company (NYSE:DE) on weakness during trading hours on Wednesday following insider selling activity. $96.65 million flowed into the stock on the tick-up and $54.15 million flowed out of the stock on the tick-down, for a money net flow of $42.50 million into the stock. Of all equities tracked, Deere & had the 10th highest net in-flow for the day. Deere & traded down ($1.03) for the day and closed at $116.45Specifically, insider Cory J. Reed sold 5,601 shares of Deere & stock in a transaction dated Thursday, May 25th. The shares were sold at an average price of $123.00, for a total value of $688,923.00. Following the completion of the transaction, the insider now directly owns 10,568 shares of the company’s stock, valued at $1,299,864. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Samuel R. Allen sold 62,704 shares of Deere & stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $125.00, for a total transaction of $7,838,000.00. Following the completion of the transaction, the chief executive officer now directly owns 333,492 shares of the company’s stock, valued at $41,686,500. The disclosure for this sale can be found here. Insiders have sold a total of 164,981 shares of company stock worth $20,383,857 in the last ninety days. Insiders own 0.75% of the company’s stock.

DE has been the subject of several research reports. BidaskClub cut shares of Deere & from a “buy” rating to a “hold” rating in a report on Wednesday, June 28th. Barclays PLC upped their target price on shares of Deere & from $82.00 to $90.00 and gave the stock a “sell” rating in a research report on Monday, May 22nd. Robert W. Baird lowered shares of Deere & from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $140.00 to $130.00 in a research report on Friday, August 18th. BMO Capital Markets restated an “outperform” rating and set a $150.00 target price (up previously from $140.00) on shares of Deere & in a research report on Wednesday, August 16th. Finally, Bank of America Corporation upped their target price on shares of Deere & from $130.00 to $145.00 and gave the stock a “buy” rating in a research report on Wednesday, May 24th. Two research analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have issued a buy rating to the company. Deere & has a consensus rating of “Hold” and a consensus target price of $126.63.

The stock has a market capitalization of $37.36 billion, a price-to-earnings ratio of 19.34 and a beta of 0.67. The firm’s 50 day moving average is $126.52 and its 200-day moving average is $117.53. Deere & also was the target of unusually large options trading on Monday. Stock investors purchased 731 call options on the company. This is an increase of 255% compared to the average daily volume of 206 call options.

Deere & (NYSE:DE) last released its quarterly earnings results on Friday, August 18th. The industrial products company reported $1.97 EPS for the quarter, topping the Zacks’ consensus estimate of $1.93 by $0.04. The business had revenue of $6.83 billion for the quarter, compared to analyst estimates of $6.92 billion. Deere & had a return on equity of 25.96% and a net margin of 6.81%. Deere &’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same period in the prior year, the company earned $1.55 EPS. On average, analysts predict that Deere & Company will post $6.45 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Friday, June 30th were given a $0.60 dividend. The ex-dividend date was Wednesday, June 28th. This represents a $2.40 dividend on an annualized basis and a yield of 2.06%. Deere &’s payout ratio is 40.20%.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Ledyard National Bank raised its position in Deere & by 5.0% in the first quarter. Ledyard National Bank now owns 1,050 shares of the industrial products company’s stock valued at $114,000 after buying an additional 50 shares in the last quarter. QCI Asset Management Inc. NY raised its position in Deere & by 18.8% in the second quarter. QCI Asset Management Inc. NY now owns 950 shares of the industrial products company’s stock valued at $117,000 after buying an additional 150 shares in the last quarter. Guardian Life Insurance Co. of America raised its position in Deere & by 1.4% in the first quarter. Guardian Life Insurance Co. of America now owns 1,132 shares of the industrial products company’s stock valued at $123,000 after buying an additional 16 shares in the last quarter. Arrow Financial Corp raised its position in Deere & by 5.2% in the second quarter. Arrow Financial Corp now owns 1,010 shares of the industrial products company’s stock valued at $125,000 after buying an additional 50 shares in the last quarter. Finally, MCF Advisors LLC raised its position in Deere & by 26.2% in the first quarter. MCF Advisors LLC now owns 1,160 shares of the industrial products company’s stock valued at $126,000 after buying an additional 241 shares in the last quarter. Hedge funds and other institutional investors own 67.91% of the company’s stock.

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About Deere &

Deere & Company is engaged in equipment operations. The Company is engaged in providing financial services. The Company operates through three business segments: agriculture and turf, construction and forestry, and financial services. The agriculture and turf segment manufactures and distributes a line of agriculture and turf equipment and related service parts.

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