Burns J W & Co. Inc. NY Sells 779 Shares of Deere & Company (NYSE:DE)

Burns J W & Co. Inc. NY reduced its stake in Deere & Company (NYSE:DE) by 3.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,951 shares of the industrial products company’s stock after selling 779 shares during the quarter. Deere & Company accounts for 1.1% of Burns J W & Co. Inc. NY’s portfolio, making the stock its 27th largest position. Burns J W & Co. Inc. NY’s holdings in Deere & Company were worth $7,784,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in DE. True Wealth Design LLC lifted its holdings in shares of Deere & Company by 1,180.0% in the fourth quarter. True Wealth Design LLC now owns 64 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 59 shares in the last quarter. ZRC Wealth Management LLC acquired a new stake in Deere & Company in the 4th quarter valued at approximately $28,000. Rakuten Securities Inc. acquired a new stake in Deere & Company in the 4th quarter valued at approximately $28,000. Naples Money Management LLC bought a new stake in Deere & Company in the 4th quarter valued at approximately $29,000. Finally, Private Wealth Management Group LLC acquired a new position in Deere & Company during the 4th quarter worth approximately $29,000. 68.58% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

DE has been the topic of a number of research reports. Truist Financial started coverage on shares of Deere & Company in a research report on Thursday, March 14th. They issued a “buy” rating and a $494.00 price objective on the stock. Daiwa Capital Markets boosted their price target on shares of Deere & Company from $400.00 to $420.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 15th. JPMorgan Chase & Co. lowered their target price on Deere & Company from $425.00 to $385.00 and set a “neutral” rating on the stock in a research report on Friday, May 17th. Citigroup began coverage on Deere & Company in a research report on Wednesday. They set a “neutral” rating and a $395.00 price target for the company. Finally, Stifel Nicolaus upped their price objective on Deere & Company from $425.00 to $450.00 and gave the stock a “buy” rating in a research note on Friday, May 17th. Eleven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $430.55.

Insiders Place Their Bets

In other Deere & Company news, insider Cory J. Reed sold 13,370 shares of the stock in a transaction that occurred on 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 transaction, the insider now owns 41,642 shares in the company, valued at approximately $15,725,268.46. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.26% of the company’s stock.

Deere & Company Stock Performance

DE traded down $1.68 on Friday, reaching $373.63. The company had a trading volume of 6,689,701 shares, compared to its average volume of 1,409,983. The stock has a market cap of $102.96 billion, a P/E ratio of 11.25, a P/E/G ratio of 1.51 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 has a fifty-two week low of $353.15 and a fifty-two week high of $450.00. The company’s fifty day moving average is $385.32 and its 200 day moving average is $387.02.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, May 16th. The industrial products company reported $8.53 EPS for the quarter, beating the consensus estimate of $7.86 by $0.67. The company had revenue of $13.61 billion for the quarter, compared to the consensus estimate of $13.29 billion. Deere & Company had a return on equity of 42.26% and a net margin of 16.15%. The firm’s revenue for the quarter was down 15.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $9.65 earnings per share. As a group, analysts predict that Deere & Company will post 25.61 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 8th. Shareholders of record on Friday, June 28th will be given a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a yield of 1.57%. The ex-dividend date is Friday, June 28th. 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.