553 Shares in Deere & Company (NYSE:DE) Bought by Thurston Springer Miller Herd & Titak Inc.

Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Deere & Company (NYSE:DE) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 553 shares of the industrial products company’s stock, valued at approximately $207,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Deere & Company in the fourth quarter worth about $1,248,036,000. Parnassus Investments LLC boosted its stake in shares of Deere & Company by 22.4% in the fourth quarter. Parnassus Investments LLC now owns 3,856,171 shares of the industrial products company’s stock worth $1,541,967,000 after buying an additional 705,771 shares during the last quarter. Swedbank AB purchased a new stake in shares of Deere & Company in the first quarter worth about $191,628,000. Vanguard Group Inc. boosted its stake in shares of Deere & Company by 1.2% in the first quarter. Vanguard Group Inc. now owns 21,988,363 shares of the industrial products company’s stock worth $9,031,500,000 after buying an additional 263,709 shares during the last quarter. Finally, SG Americas Securities LLC boosted its stake in shares of Deere & Company by 3,064.1% in the first quarter. SG Americas Securities LLC now owns 175,386 shares of the industrial products company’s stock worth $72,038,000 after buying an additional 169,843 shares during the last quarter. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Citigroup assumed coverage on Deere & Company in a research note on Wednesday, June 26th. They issued a “neutral” rating and a $395.00 target price on the stock. TD Cowen upped their price target on Deere & Company from $383.00 to $390.00 and gave the stock a “hold” rating in a report on Friday, May 17th. Raymond James initiated coverage on Deere & Company in a report on Friday, June 28th. They issued an “outperform” rating and a $420.00 price target for the company. Truist Financial reduced their price target on Deere & Company from $460.00 to $439.00 and set a “buy” rating for the company in a report on Tuesday, July 2nd. Finally, Oppenheimer reduced their price target on Deere & Company from $465.00 to $448.00 and set an “outperform” rating for the company in a report on Monday, July 22nd. Eleven analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Deere & Company has a consensus rating of “Hold” and a consensus target price of $426.71.

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 completion of the transaction, the insider now directly owns 41,642 shares in the company, valued at $15,725,268.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.26% of the company’s stock.

Deere & Company Price Performance

Shares of DE stock traded up $1.22 during trading hours on Tuesday, reaching $346.06. The company had a trading volume of 1,563,908 shares, compared to its average volume of 1,533,433. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.80 and a current ratio of 2.01. The stock has a fifty day moving average of $370.26 and a 200-day moving average of $382.70. The company has a market capitalization of $95.36 billion, a price-to-earnings ratio of 10.47, a PEG ratio of 1.59 and a beta of 0.93. Deere & Company has a 12-month low of $340.20 and a 12-month high of $441.46.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, May 16th. The industrial products company reported $8.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.86 by $0.67. The business had revenue of $13.61 billion during the quarter, compared to analyst estimates of $13.29 billion. Deere & Company had a return on equity of 42.26% and a net margin of 16.15%. The business’s revenue was down 15.4% compared to the same quarter last year. During the same period in the prior year, the business earned $9.65 earnings per share. On average, equities analysts anticipate that Deere & Company will post 25.41 earnings per share for the current year.

Deere & Company Dividend Announcement

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 given 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 1.70%. Deere & Company’s dividend payout ratio (DPR) is presently 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.