Robotti Robert Invests $246,000 in Deere & Company (NYSE:DE)

Robotti Robert acquired a new position in shares of Deere & Company (NYSE:DE) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 600 shares of the industrial products company’s stock, valued at approximately $246,000.

A number of other hedge funds have also modified their holdings of DE. Bornite Capital Management LP acquired a new position in Deere & Company in the 1st quarter valued at $8,215,000. Ascent Group LLC raised its holdings in Deere & Company by 14.2% in the 1st quarter. Ascent Group LLC now owns 1,452 shares of the industrial products company’s stock valued at $596,000 after acquiring an additional 181 shares during the last quarter. Transcendent Capital Group LLC raised its holdings in Deere & Company by 673.1% in the 1st quarter. Transcendent Capital Group LLC now owns 201 shares of the industrial products company’s stock valued at $83,000 after acquiring an additional 175 shares during the last quarter. Mount Yale Investment Advisors LLC raised its holdings in Deere & Company by 43.1% in the 1st quarter. Mount Yale Investment Advisors LLC now owns 1,965 shares of the industrial products company’s stock valued at $807,000 after acquiring an additional 592 shares during the last quarter. Finally, Aristides Capital LLC acquired a new position in Deere & Company in the 1st quarter valued at $205,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Cory J. Reed sold 13,370 shares of the stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $377.63, for a total transaction of $5,048,913.10. Following the sale, the insider now owns 41,642 shares in the company, valued at $15,725,268.46. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.26% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts have weighed in on DE shares. Morgan Stanley boosted their price target on Deere & Company from $430.00 to $450.00 in a report on Wednesday, May 15th. Stifel Nicolaus upped their price objective on Deere & Company from $425.00 to $450.00 and gave the stock a “buy” rating in a report on Friday, May 17th. 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. Truist Financial decreased their price target on shares of Deere & Company from $460.00 to $439.00 and set a “buy” rating for the company in a research report on Tuesday, July 2nd. Finally, Oppenheimer decreased their price target on shares of Deere & Company from $465.00 to $448.00 and set an “outperform” rating for the company in a research report on Monday, July 22nd. Eleven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $426.71.

Deere & Company Stock Down 2.5 %

Shares of DE stock traded down $9.73 during trading hours on Monday, hitting $376.82. 1,489,671 shares of the company were exchanged, compared to its average volume of 1,501,366. 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 one year low of $345.93 and a one year high of $441.46. The business’s 50-day simple moving average is $372.29 and its two-hundred day simple moving average is $383.53. The stock has a market capitalization of $103.84 billion, a price-to-earnings ratio of 11.34, a P/E/G ratio of 1.57 and a beta of 0.93.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, May 16th. The industrial products company reported $8.53 EPS for the quarter, topping 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 business had revenue of $13.61 billion for the quarter, compared to analysts’ expectations of $13.29 billion. During the same quarter last year, the company posted $9.65 earnings per share. The company’s quarterly revenue was down 15.4% compared to the same quarter last year. Sell-side analysts predict that Deere & Company will post 25.41 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 8th. Investors of record on Friday, June 28th will be paid a dividend of $1.47 per share. The ex-dividend date is Friday, June 28th. This represents a $5.88 annualized dividend and a yield of 1.56%. Deere & Company’s dividend payout ratio (DPR) is 17.70%.

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.