ERn Financial LLC Boosts Stake in Deere & Company (NYSE:DE)

ERn Financial LLC lifted its holdings in Deere & Company (NYSE:DE) by 1.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,725 shares of the industrial products company’s stock after purchasing an additional 41 shares during the quarter. ERn Financial LLC’s holdings in Deere & Company were worth $1,530,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. True Wealth Design LLC raised its holdings in Deere & Company by 1,180.0% in the 4th quarter. True Wealth Design LLC now owns 64 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 59 shares during the period. Rakuten Securities Inc. acquired a new stake in Deere & Company during the fourth quarter worth about $28,000. Naples Money Management LLC purchased a new stake in shares of Deere & Company during the 4th quarter valued at approximately $29,000. Private Wealth Management Group LLC acquired a new stake in shares of Deere & Company during the 4th quarter worth about $29,000. Finally, Bfsg LLC purchased a new stake in shares of Deere & Company in the 4th quarter valued at approximately $30,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Price Performance

Shares of DE traded up $0.54 during trading hours on Thursday, hitting $376.79. 1,677,744 shares of the company were exchanged, compared to its average volume of 1,476,744. The company has a market capitalization of $103.83 billion, a PE ratio of 11.34, a PEG ratio of 1.48 and a beta of 0.98. The firm has a fifty day simple moving average of $386.34 and a 200-day simple moving average of $387.01. The company has a debt-to-equity ratio of 1.81, a current ratio of 2.01 and a quick ratio of 1.80. Deere & Company has a one year low of $353.15 and a one year high of $450.00.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, May 16th. The industrial products company reported $8.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.86 by $0.67. Deere & Company had a net margin of 16.15% and a return on equity of 42.26%. The firm had revenue of $13.61 billion for the quarter, compared to analyst estimates of $13.29 billion. During the same quarter in the previous year, the firm posted $9.65 EPS. The business’s revenue for the quarter was down 15.4% on a year-over-year basis. As a group, sell-side analysts predict that Deere & Company will post 25.61 earnings per share for the current year.

Deere & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 8th. Investors of record on Friday, June 28th will be paid a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend is Friday, June 28th. Deere & Company’s payout ratio is presently 17.70%.

Analyst Ratings Changes

DE has been the topic of several recent analyst reports. DA Davidson dropped their target price on Deere & Company from $483.00 to $465.00 and set a “buy” rating on the stock in a report on Monday, May 20th. Daiwa Capital Markets raised their target price on shares of Deere & Company from $400.00 to $420.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 15th. Citigroup started coverage on shares of Deere & Company in a research report on Wednesday. They set a “neutral” rating and a $395.00 price target for the company. TD Cowen upped their price objective on Deere & Company from $383.00 to $390.00 and gave the stock a “hold” rating in a report on Friday, May 17th. Finally, Oppenheimer reissued an “outperform” rating and set a $456.00 price target on shares of Deere & Company in a research report on Thursday, May 16th. Eleven research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $431.14.

Insider Buying and Selling at Deere & Company

In related news, insider Cory J. Reed sold 13,370 shares of the firm’s stock in a transaction dated 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 completion of the sale, the insider now directly owns 41,642 shares in the company, valued at approximately $15,725,268.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.26% of the company’s stock.

Deere & Company 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.