Deere & Company Target of Unusually High Options Trading (NYSE:DE)
by Amy Steele · The Cerbat GemDeere & Company (NYSE:DE – Get Free Report) saw some unusual options trading on Tuesday. Stock traders bought 13,202 call options on the stock. This is an increase of approximately 172% compared to the typical volume of 4,858 call options.
Insider Activity at Deere & Company
In related news, CEO John C. May II sold 11,106 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief executive officer directly owned 112,453 shares of the company’s stock, 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 Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.29% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the company. Mid American Wealth Advisory Group Inc. acquired a new stake in Deere & Company during the 2nd quarter worth approximately $25,000. Strategic Advocates LLC bought a new position in shares of Deere & Company during the third quarter valued at $25,000. Howard Hughes Medical Institute acquired a new position in shares of Deere & Company during the second quarter worth $27,000. Activest Wealth Management grew its stake in shares of Deere & Company by 69.2% in the third quarter. Activest Wealth Management now owns 66 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 27 shares during the last quarter. Finally, Wealth Watch Advisors INC bought a new stake in shares of Deere & Company in the third quarter worth $32,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several equities research analysts have issued reports on DE shares. Evercore ISI reaffirmed a “positive” rating on shares of Deere & Company in a report on Friday, November 28th. Morgan Stanley reaffirmed an “overweight” rating and set a $560.00 target price on shares of Deere & Company in a report on Tuesday, December 9th. Truist Financial increased their price target on shares of Deere & Company from $609.00 to $612.00 and gave the company a “buy” rating in a report on Friday, November 28th. Zacks Research upgraded Deere & Company from a “strong sell” rating to a “hold” rating in a report on Wednesday, December 3rd. Finally, Oppenheimer upped their target price on Deere & Company from $512.00 to $531.00 and gave the company an “outperform” rating in a research report on Friday, November 28th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $522.70.
View Our Latest Analysis on Deere & Company
Deere & Company Price Performance
NYSE:DE traded down $0.14 during trading hours on Tuesday, reaching $470.11. 641,372 shares of the company were exchanged, compared to its average volume of 1,378,411. The company has a market capitalization of $127.14 billion, a P/E ratio of 25.40, a P/E/G ratio of 1.80 and a beta of 1.00. Deere & Company has a 1-year low of $403.01 and a 1-year high of $533.78. The company has a debt-to-equity ratio of 1.68, a current ratio of 2.22 and a quick ratio of 2.01. The business has a 50 day moving average of $473.26 and a 200 day moving average of $484.34.
Deere & Company (NYSE:DE – Get Free Report) last announced its quarterly earnings data on Wednesday, November 26th. The industrial products company reported $3.93 earnings per share for the quarter, missing the consensus estimate of $3.96 by ($0.03). Deere & Company had a net margin of 11.00% and a return on equity of 20.54%. The company had revenue of $12.39 billion during the quarter, compared to analyst estimates of $9.77 billion. During the same period in the prior year, the firm earned $4.55 earnings per share. Deere & Company’s revenue was up 14.1% on a year-over-year basis. Research analysts forecast 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 given a $1.62 dividend. The ex-dividend date is Wednesday, December 31st. This represents a $6.48 annualized dividend and a dividend yield of 1.4%. Deere & Company’s payout ratio is presently 35.01%.
Deere & Company Company Profile
Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.
The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.