Deere & Company (NYSE:DE) Shares Acquired by Avidian Wealth Solutions LLC

Avidian Wealth Solutions LLC increased its stake in Deere & Company (NYSE:DE) by 8.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,885 shares of the industrial products company’s stock after acquiring an additional 146 shares during the period. Avidian Wealth Solutions LLC’s holdings in Deere & Company were worth $774,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of DE. Tompkins Financial Corp raised its stake in shares of Deere & Company by 2.6% during the first quarter. Tompkins Financial Corp now owns 981 shares of the industrial products company’s stock valued at $403,000 after purchasing an additional 25 shares during the period. Essex Savings Bank increased its stake in shares of Deere & Company by 0.5% in the fourth quarter. Essex Savings Bank now owns 5,367 shares of the industrial products company’s stock worth $2,146,000 after buying an additional 26 shares during the last quarter. Global Retirement Partners LLC increased its stake in shares of Deere & Company by 0.7% in the first quarter. Global Retirement Partners LLC now owns 3,768 shares of the industrial products company’s stock worth $1,548,000 after buying an additional 26 shares during the last quarter. Valley National Advisers Inc. increased its stake in shares of Deere & Company by 1.5% in the fourth quarter. Valley National Advisers Inc. now owns 1,879 shares of the industrial products company’s stock worth $751,000 after buying an additional 27 shares during the last quarter. Finally, Bleakley Financial Group LLC increased its stake in shares of Deere & Company by 0.5% in the fourth quarter. Bleakley Financial Group LLC now owns 5,158 shares of the industrial products company’s stock worth $2,063,000 after buying an additional 27 shares during the last quarter. 68.58% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Cory J. Reed sold 13,370 shares of the stock in a transaction that occurred on 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 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 this link. 0.26% of the stock is owned by corporate insiders.

Deere & Company Trading Up 0.7 %

DE stock traded up $2.60 during mid-day trading on Wednesday, reaching $351.44. 1,475,802 shares of the stock traded hands, compared to its average volume of 1,513,834. The company has a current ratio of 2.01, a quick ratio of 1.80 and a debt-to-equity ratio of 1.81. Deere & Company has a 52-week low of $345.93 and a 52-week high of $450.00. The company has a market cap of $96.85 billion, a P/E ratio of 10.52, a P/E/G ratio of 1.43 and a beta of 0.93. The stock’s fifty day moving average is $380.20 and its 200-day moving average is $385.79.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, May 16th. The industrial products company reported $8.53 EPS for the quarter, beating analysts’ consensus estimates of $7.86 by $0.67. The company had revenue of $13.61 billion during the quarter, compared to analyst estimates of $13.29 billion. Deere & Company had a net margin of 16.15% and a return on equity of 42.26%. The business’s quarterly revenue was down 15.4% on a year-over-year basis. During the same period in the prior year, the firm earned $9.65 earnings per share. As a group, sell-side analysts expect that Deere & Company will post 25.56 earnings per share for the current year.

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 8th. Stockholders of record on Friday, June 28th will be issued a $1.47 dividend. The ex-dividend date is Friday, June 28th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.67%. Deere & Company’s dividend payout ratio is 17.70%.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. DA Davidson dropped their price target on shares of Deere & Company from $483.00 to $465.00 and set a “buy” rating for the company in a research note on Monday, May 20th. JPMorgan Chase & Co. dropped their price target on shares of Deere & Company from $425.00 to $385.00 and set a “neutral” rating for the company in a research note on Friday, May 17th. Raymond James began coverage on shares of Deere & Company in a research note on Friday, June 28th. They issued an “outperform” rating and a $420.00 price target for the company. Truist Financial decreased their price objective on shares of Deere & Company from $460.00 to $439.00 and set a “buy” rating for the company in a report on Tuesday, July 2nd. Finally, TD Cowen lifted their price objective on shares of Deere & Company from $383.00 to $390.00 and gave the stock a “hold” rating in a report on Friday, May 17th. Eleven analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $427.66.

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.