Appleton Partners Inc. MA Sells 600 Shares of Deere & Company (NYSE:DE)

Appleton Partners Inc. MA trimmed its position in shares of Deere & Company (NYSE:DE) by 37.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,010 shares of the industrial products company’s stock after selling 600 shares during the period. Appleton Partners Inc. MA’s holdings in Deere & Company were worth $415,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of DE. Envestnet Portfolio Solutions Inc. bought a new position in Deere & Company in the 3rd quarter worth approximately $3,231,000. Envestnet Asset Management Inc. increased its position in Deere & Company by 19.2% during the third quarter. Envestnet Asset Management Inc. now owns 214,387 shares of the industrial products company’s stock worth $80,905,000 after acquiring an additional 34,520 shares during the period. Aigen Investment Management LP increased its position in Deere & Company by 16.1% during the third quarter. Aigen Investment Management LP now owns 2,344 shares of the industrial products company’s stock worth $885,000 after acquiring an additional 325 shares during the period. CI Investments Inc. raised its stake in Deere & Company by 0.7% during the 3rd quarter. CI Investments Inc. now owns 11,457 shares of the industrial products company’s stock valued at $4,324,000 after purchasing an additional 75 shares during the last quarter. Finally, Rathbones Group PLC boosted its holdings in Deere & Company by 28.5% in the 3rd quarter. Rathbones Group PLC now owns 448,696 shares of the industrial products company’s stock valued at $169,329,000 after purchasing an additional 99,568 shares during the period. 68.58% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Evercore ISI upped their price objective on shares of Deere & Company from $381.00 to $387.00 and gave the company an “in-line” rating in a research report on Tuesday, February 20th. Truist Financial assumed coverage on Deere & Company in a research report on Thursday, March 14th. They issued a “buy” rating and a $494.00 price objective for the company. Oppenheimer restated an “outperform” rating and set a $456.00 price objective on shares of Deere & Company in a research report on Thursday, May 16th. JPMorgan Chase & Co. reduced their target price on Deere & Company from $425.00 to $385.00 and set a “neutral” rating for the company in a research report on Friday, May 17th. Finally, Daiwa Capital Markets lifted their price target on shares of Deere & Company from $400.00 to $420.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 15th. Ten investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $433.36.

Deere & Company Price Performance

Shares of NYSE DE traded up $3.05 during trading on Tuesday, reaching $382.27. The company had a trading volume of 326,720 shares, compared to its average volume of 1,451,789. Deere & Company has a 52 week low of $353.15 and a 52 week high of $450.00. The business’s 50 day moving average price is $389.76 and its 200-day moving average price is $386.51. The stock has a market cap of $105.34 billion, a PE ratio of 11.42, a PEG ratio of 1.52 and a beta of 0.98. 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 (NYSE:DE) last posted its quarterly earnings data 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. The firm had revenue of $13.61 billion during the quarter, compared to analysts’ expectations of $13.29 billion. Deere & Company had a net margin of 16.15% and a return on equity of 42.26%. Deere & Company’s revenue was down 15.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $9.65 EPS. Analysts expect that Deere & Company will post 25.61 earnings per share for the current year.

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 8th. Investors of record on Friday, June 28th will be given a $1.47 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $5.88 dividend on an annualized basis and a yield of 1.54%. Deere & Company’s payout ratio is 17.70%.

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.