AlphaMark Advisors LLC Lowers Stock Position in Deere & Company (NYSE:DE)

AlphaMark Advisors LLC lessened its holdings in shares of Deere & Company (NYSE:DE) by 23.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 103 shares of the industrial products company’s stock after selling 32 shares during the period. AlphaMark Advisors LLC’s holdings in Deere & Company were worth $38,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of DE. Norges Bank purchased a new stake in Deere & Company during the 4th quarter valued at about $1,248,036,000. Parnassus Investments LLC increased its position in shares of Deere & Company by 22.4% during the fourth quarter. Parnassus Investments LLC now owns 3,856,171 shares of the industrial products company’s stock valued at $1,541,967,000 after acquiring an additional 705,771 shares in the last quarter. Swedbank AB purchased a new position in Deere & Company in the 1st quarter worth approximately $191,628,000. Vanguard Group Inc. lifted its position in Deere & Company by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 21,988,363 shares of the industrial products company’s stock valued at $9,031,500,000 after acquiring an additional 263,709 shares in the last quarter. Finally, SG Americas Securities LLC boosted its stake in Deere & Company by 3,064.1% during the 1st quarter. SG Americas Securities LLC now owns 175,386 shares of the industrial products company’s stock valued at $72,038,000 after purchasing an additional 169,843 shares during the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Stifel Nicolaus increased 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. JPMorgan Chase & Co. decreased their target price on shares of Deere & Company from $375.00 to $360.00 and set a “neutral” rating for the company in a research note on Tuesday. Truist Financial reduced their price objective on Deere & Company from $460.00 to $439.00 and set a “buy” rating for the company in a research report on Tuesday, July 2nd. Deutsche Bank Aktiengesellschaft lowered their target price on Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a report on Thursday, August 8th. Finally, Daiwa Capital Markets boosted their price target on Deere & Company from $400.00 to $420.00 and gave the company an “overweight” rating in a research note on Wednesday, May 15th. Twelve 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 currently has a consensus rating of “Hold” and a consensus price target of $422.78.

Deere & Company Price Performance

Shares of NYSE DE traded up $22.17 during midday trading on Thursday, reaching $373.45. 3,183,177 shares of the stock traded hands, compared to its average volume of 1,546,466. The company’s 50 day moving average is $367.28 and its 200 day moving average is $380.70. Deere & Company has a one year low of $340.20 and a one year high of $435.73. The stock has a market capitalization of $102.91 billion, a PE ratio of 11.24, a P/E/G ratio of 1.59 and a beta of 0.93. The company has a debt-to-equity ratio of 1.81, a current ratio of 2.01 and a quick ratio of 1.80.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, topping analysts’ consensus estimates of $5.94 by $0.35. The business had revenue of $11.39 billion during the quarter, compared to analysts’ expectations of $10.94 billion. Deere & Company had a net margin of 16.15% and a return on equity of 42.26%. The business’s revenue was down 20.3% on a year-over-year basis. During the same period last year, the company posted $10.20 EPS. On average, equities research analysts anticipate that Deere & Company will post 25.41 earnings per share for the current year.

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 8th. Shareholders of record on Friday, June 28th were given a dividend of $1.47 per share. The ex-dividend date of this dividend was Friday, June 28th. This represents a $5.88 dividend on an annualized basis and a yield of 1.57%. Deere & Company’s dividend payout ratio (DPR) is presently 17.70%.

Insider Activity

In related news, insider Cory J. Reed sold 13,370 shares of the firm’s stock in a transaction 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 sale, the insider now directly owns 41,642 shares in the company, valued at $15,725,268.46. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.26% of the company’s stock.

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.