Old Port Advisors Has $266,000 Stock Holdings in Deere & Company (NYSE:DE)

Old Port Advisors reduced its position in shares of Deere & Company (NYSE:DE) by 5.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 647 shares of the industrial products company’s stock after selling 35 shares during the period. Old Port Advisors’ holdings in Deere & Company were worth $266,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. True Wealth Design LLC grew its position in Deere & Company by 1,180.0% in 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 last quarter. Pineridge Advisors LLC lifted its position in shares of Deere & Company by 725.0% in the 1st quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 58 shares during the period. Rakuten Securities Inc. bought a new stake in shares of Deere & Company during the fourth quarter valued at approximately $28,000. Naples Money Management LLC acquired a new position in shares of Deere & Company in the fourth quarter valued at $29,000. Finally, Private Wealth Management Group LLC bought a new position in Deere & Company in the fourth quarter worth $29,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Price Performance

Shares of NYSE DE traded down $4.16 during mid-day trading on Friday, reaching $353.75. The company had a trading volume of 2,820,703 shares, compared to its average volume of 1,566,937. The firm has a market cap of $97.48 billion, a price-to-earnings ratio of 10.65, a PEG ratio of 1.59 and a beta of 0.93. 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 $370.86 and its 200 day simple moving average is $382.93.

Deere & Company (NYSE:DE) last released its 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 firm had revenue of $13.61 billion during the quarter, compared to analysts’ expectations of $13.29 billion. During the same period in the prior year, the company earned $9.65 earnings per share. The company’s quarterly revenue was down 15.4% on a year-over-year basis. On average, research analysts predict that Deere & Company will post 25.41 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 8th. Stockholders of record on Friday, June 28th will be issued a dividend of $1.47 per share. The ex-dividend date is Friday, June 28th. This represents a $5.88 annualized dividend and a dividend yield of 1.66%. Deere & Company’s dividend payout ratio (DPR) is presently 17.70%.

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 sale, the insider now directly 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 accessible through the SEC website. 0.26% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Oppenheimer reduced their target price on shares of Deere & Company from $465.00 to $448.00 and set an “outperform” rating on the stock in a research note on Monday, July 22nd. Daiwa Capital Markets lifted their target price on shares of Deere & Company from $400.00 to $420.00 and gave the company an “overweight” rating in a research note on Wednesday, May 15th. Morgan Stanley increased their price target on Deere & Company from $430.00 to $450.00 in a research report on Wednesday, May 15th. Stifel Nicolaus lifted their price objective on Deere & Company from $425.00 to $450.00 and gave the company a “buy” rating in a research report on Friday, May 17th. Finally, DA Davidson decreased their target price on Deere & Company from $483.00 to $465.00 and set a “buy” rating on the stock in a report on Monday, May 20th. Eleven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $426.71.

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.