Burns J W & Co. Inc. NY Trims Stock Holdings in Deere & Company (NYSE:DE)

Burns J W & Co. Inc. NY cut its position in Deere & Company (NYSE:DE) by 3.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 18,951 shares of the industrial products company’s stock after selling 779 shares during the period. Deere & Company makes up 1.1% of Burns J W & Co. Inc. NY’s holdings, making the stock its 27th largest position. Burns J W & Co. Inc. NY’s holdings in Deere & Company were worth $7,784,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Truist Financial assumed coverage on Deere & Company in a report on Thursday, March 14th. They issued a “buy” rating and a $494.00 price objective on the stock. Oppenheimer reiterated an “outperform” rating and set a $456.00 price target on shares of Deere & Company in a research note on Thursday, May 16th. Daiwa Capital Markets lifted their target price on Deere & Company from $400.00 to $420.00 and gave the company an “overweight” rating in a report on Wednesday, May 15th. Morgan Stanley boosted their target price on Deere & Company from $430.00 to $450.00 in a research note on Wednesday, May 15th. Finally, Stifel Nicolaus boosted their price objective on Deere & Company from $425.00 to $450.00 and gave the company a “buy” rating in a research note on Friday, May 17th. Eleven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $430.55.

Insider Activity

In other news, insider Cory J. Reed sold 13,370 shares of the business’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $377.63, for a total transaction of $5,048,913.10. Following the completion of the sale, the insider now 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 can be accessed through the SEC website. Corporate insiders own 0.26% of the company’s stock.

Deere & Company Price Performance

Deere & Company stock traded down $1.68 during trading hours on Friday, hitting $373.63. The stock had a trading volume of 6,689,701 shares, compared to its average volume of 1,409,983. The stock has a market capitalization of $102.96 billion, a price-to-earnings ratio of 11.25, a PEG ratio of 1.51 and a beta of 0.98. 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 1-year low of $353.15 and a 1-year high of $450.00. The stock’s fifty day moving average is $385.32 and its two-hundred day moving average is $387.02.

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

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 8th. Stockholders of record on Friday, June 28th will be paid a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date of this dividend is Friday, June 28th. Deere & Company’s dividend payout ratio is currently 17.70%.

About Deere & Company

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.