River Street Advisors LLC Boosts Stake in Deere & Company (NYSE:DE)

River Street Advisors LLC raised its position in Deere & Company (NYSE:DE) by 3.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,990 shares of the industrial products company’s stock after purchasing an additional 59 shares during the quarter. River Street Advisors LLC’s holdings in Deere & Company were worth $817,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. True Wealth Design LLC grew its position in Deere & Company by 1,180.0% during 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. ZRC Wealth Management LLC acquired a new stake in Deere & Company during the 4th quarter worth about $28,000. Rakuten Securities Inc. acquired a new stake in Deere & Company during the 4th quarter worth about $28,000. Naples Money Management LLC purchased a new stake in shares of Deere & Company during the 4th quarter worth about $29,000. Finally, Private Wealth Management Group LLC purchased a new stake in shares of Deere & Company during the 4th quarter worth about $29,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on DE shares. Oppenheimer reissued an “outperform” rating and set a $456.00 target price on shares of Deere & Company in a research note on Thursday, May 16th. Truist Financial started coverage on shares of Deere & Company in a research note on Thursday, March 14th. They set a “buy” rating and a $494.00 target price on the stock. JPMorgan Chase & Co. lowered their target price on shares of Deere & Company from $425.00 to $385.00 and set a “neutral” rating on the stock in a research note on Friday, May 17th. Morgan Stanley increased their target price on shares of Deere & Company from $430.00 to $450.00 in a research note on Wednesday, May 15th. Finally, Daiwa Capital Markets increased their target price on shares of Deere & Company from $400.00 to $420.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 15th. Eleven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $430.55.

Insiders Place Their Bets

In other Deere & Company news, insider Cory J. Reed sold 13,370 shares of the business’s stock in a transaction on 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 transaction, the insider now owns 41,642 shares in the company, valued at $15,725,268.46. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.26% of the company’s stock.

Deere & Company Trading Down 0.4 %

Deere & Company stock traded down $1.68 during trading on Friday, hitting $373.63. The company had a trading volume of 6,689,701 shares, compared to its average volume of 1,409,983. Deere & Company has a 1-year low of $353.15 and a 1-year high of $450.00. The company has a current ratio of 2.01, a quick ratio of 1.80 and a debt-to-equity ratio of 1.81. The company’s 50 day simple moving average is $385.32 and its 200-day simple moving average is $387.21. The stock has a market cap of $102.96 billion, a price-to-earnings ratio of 11.25, a price-to-earnings-growth ratio of 1.50 and a beta of 0.98.

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

Deere & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 8th. Shareholders of record on Friday, June 28th will be paid a $1.47 dividend. The ex-dividend date is Friday, June 28th. This represents a $5.88 annualized dividend and a dividend yield of 1.57%. Deere & Company’s dividend payout ratio (DPR) is 17.70%.

Deere & 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.