Avior Wealth Management LLC Raises Stock Holdings in Deere & Company (NYSE:DE)

Avior Wealth Management LLC boosted its holdings in Deere & Company (NYSE:DE) by 48.2% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,148 shares of the industrial products company’s stock after purchasing an additional 1,999 shares during the period. Avior Wealth Management LLC’s holdings in Deere & Company were worth $2,526,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Scotia Capital Inc. raised its position in shares of Deere & Company by 9.8% during the 3rd quarter. Scotia Capital Inc. now owns 59,456 shares of the industrial products company’s stock worth $22,438,000 after purchasing an additional 5,298 shares during the period. Royal London Asset Management Ltd. increased its position in Deere & Company by 7.3% in the 3rd quarter. Royal London Asset Management Ltd. now owns 133,226 shares of the industrial products company’s stock valued at $50,299,000 after acquiring an additional 9,030 shares during the period. Baker Avenue Asset Management LP increased its position in Deere & Company by 7.2% in the 3rd quarter. Baker Avenue Asset Management LP now owns 26,851 shares of the industrial products company’s stock valued at $10,133,000 after acquiring an additional 1,794 shares during the period. Adalta Capital Management LLC acquired a new stake in Deere & Company in the 3rd quarter valued at approximately $329,000. Finally, Crestwood Advisors Group LLC acquired a new stake in Deere & Company in the 3rd quarter valued at approximately $961,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Insider Transactions at Deere & Company

In other news, insider Cory J. Reed sold 13,370 shares of Deere & Company stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $377.63, for a total value of $5,048,913.10. Following the transaction, the insider now directly owns 41,642 shares in the company, valued at $15,725,268.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.26% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms recently commented on DE. Truist Financial lowered their target price on Deere & Company from $460.00 to $439.00 and set a “buy” rating on the stock in a research report on Tuesday. Stifel Nicolaus lifted their price target on Deere & Company from $425.00 to $450.00 and gave the company a “buy” rating in a research report on Friday, May 17th. JPMorgan Chase & Co. reduced their price objective on Deere & Company from $425.00 to $385.00 and set a “neutral” rating for the company in a research note on Friday, May 17th. Morgan Stanley raised their price objective on Deere & Company from $430.00 to $450.00 in a research note on Wednesday, May 15th. Finally, Citigroup assumed coverage on Deere & Company in a research note on Wednesday, June 26th. They set a “neutral” rating and a $395.00 price objective for the company. Eleven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $427.66.

Deere & Company Stock Down 0.8 %

Shares of NYSE:DE traded down $2.76 during midday trading on Friday, hitting $360.03. 1,273,682 shares of the stock were exchanged, compared to its average volume of 1,533,038. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.80 and a current ratio of 2.01. Deere & Company has a 52-week low of $353.15 and a 52-week high of $450.00. The business’s fifty day simple moving average is $381.97 and its two-hundred day simple moving average is $386.45. The company has a market capitalization of $99.21 billion, a PE ratio of 10.84, a P/E/G ratio of 1.46 and a beta of 0.93.

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. 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 for the quarter, compared to analyst estimates of $13.29 billion. During the same period last year, the company earned $9.65 earnings per share. The business’s revenue was down 15.4% compared to the same quarter last year. As a group, research analysts predict that Deere & Company will post 25.59 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The firm 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 $1.47 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.63%. Deere & Company’s payout ratio is presently 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.