Selling Buzz: Deere & Company [DE] President, WW C&F & Pwr Syst Stone John H sells 17,145 shares of the company

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Deere & Company shares valued at $74,084,689 were sold by Stone John H on May 26. At $4321.07 per share, Stone John H sold 17,145 shares. The insider’s holdings dropped to 21,087 shares worth approximately $7.22 million following the completion of this transaction.

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Also, Stone John H sold 6,497 shares, netting a total of over 2,250,511 in proceeds. Following the sale of shares at $346.39 each, the insider now holds 21,087 shares.

Before that, von Pentz Markwart had sold 18,364 shares from its account. In a trade valued at $7,217,052, the Pres, Ag & Turf, Sml Ag Turf traded Deere & Company shares for $393.00 each. Upon closing the transaction, the insider’s holdings decreased to 18,364 shares, worth approximately $20.44 million.

As published in a research note from Citigroup on July 07, 2022, Deere & Company [DE] has been rated up from a Neutral to a Buy. Analysts at Cowen started covering the stock with ‘”a Market perform”‘ outlook in a report released in early June. As of April 25, 2022, BofA Securities has decreased its “Buy” rating to a “Neutral” for DE. Earlier on March 28, 2022, JP Morgan upgraded its rating. Their new recommendation was “a Neutral” for DE stock which previously was a “an Underweight”.

Analyzing DE’s Price Performance

On Thursday, Deere & Company [NYSE: DE] rose 1.74% to $342.38. The stock’s lowest price that day was $336.718, but it reached a high of $344.76 in the same session. During the last five days, there has been a surge of approximately 3.24%. Over the course of the year, Deere & Company shares have dropped approximately -0.15%. Shares of the company reached a 52-week high of $446.76 on 04/20/22 and a 52-week low of $283.81 on 07/06/22. A 50-day SMA is recorded $324.21, while a 200-day SMA reached $361.71. Nevertheless, trading volume fell to 1.33 million shares from 1.14 million shares the previous day.

Support And Resistance Levels for Deere & Company (DE)

According to the 24-hour chart, there is a support level at 337.81, which, if violated, would cause prices to drop to 333.24. In the upper region, resistance lies at 345.85. The next price resistance is at 349.33. RSI (Relative Strength Index) is 62.62 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 12.59, which suggests the price will increase in the coming days. Percent R is at 4.98%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.

Is Deere & Company subject to short interest?

Stocks of Deere & Company saw a sharp rise in short interest on Jul 14, 2022 jumping by 0.16 million shares to 2.8 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 2.64 million shares. A jump of 5.71% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 1.56 of the overall float, the days-to-cover ratio (short ratio) jumped to 1.56.

Which companies own the most shares of Deere & Company (DE)?

According to The Vanguard Group, Inc. filings, the company currently owns 20,535,335 shares, which is about 6.72% of the total DE shares outstanding. The investor’s shares have appreciated by 229,720 from its previous 13-F filing of 20305615.0 shares. With the completion of the buy transaction, BlackRock Fund Advisors’s stake is now worth $3,479,008,873. SSgA Funds Management, Inc. reduced a -2.75% interest valued at $3.38 billion while JPMorgan Investment Management, I sold a -222,647 stake. A total of 235,686 shares of Deere & Company were sold by Wellington Management Co. LLP during the quarter, and 85,204 were bought by Geode Capital Management LLC. In its current portfolio, Janus Henderson Investors US LLC holds 4,472,799 shares valued at $1.34 billion.

In terms of Deere & Company share price expectations, FactSet research, analysts set an average price target of $388.91 in the next 12 months, up nearly 17.83% from the previous closing price of $336.51. Analysts anticipate Deere & Company stock to reach $466.00 by 2022, with the lowest price target being $325.00. In spite of this, 26 analysts ranked Deere & Company stock as an Overweight at the end of 2022. On March 11, 2022, Wells Fargo assigned a price target of “an Overweight” to the stock and initiated coverage with a $455.


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