Deere & Company (NYSE:DE) Shares Bought by Stephens Consulting LLC

Stephens Consulting LLC grew its position in Deere & Company (NYSE:DE) by 37.7% during the 1st quarter, Holdings Channel reports. The fund owned 365 shares of the industrial products company’s stock after buying an additional 100 shares during the quarter. Stephens Consulting LLC’s holdings in Deere & Company were worth $150,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Tompkins Financial Corp grew its position in shares of Deere & Company by 2.6% during the first quarter. Tompkins Financial Corp now owns 981 shares of the industrial products company’s stock worth $403,000 after buying an additional 25 shares in the last quarter. Essex Savings Bank increased its position in Deere & Company by 0.5% in the fourth quarter. Essex Savings Bank now owns 5,367 shares of the industrial products company’s stock worth $2,146,000 after buying an additional 26 shares during the period. Bleakley Financial Group LLC lifted its stake in Deere & Company by 0.5% in the fourth quarter. Bleakley Financial Group LLC now owns 5,158 shares of the industrial products company’s stock valued at $2,063,000 after buying an additional 27 shares during the last quarter. Valley National Advisers Inc. lifted its stake in Deere & Company by 1.5% in the fourth quarter. Valley National Advisers Inc. now owns 1,879 shares of the industrial products company’s stock valued at $751,000 after buying an additional 27 shares during the last quarter. Finally, Simplicity Solutions LLC boosted its holdings in shares of Deere & Company by 0.5% during the fourth quarter. Simplicity Solutions LLC now owns 5,158 shares of the industrial products company’s stock valued at $2,063,000 after acquiring an additional 27 shares during the period. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

DE has been the topic of several recent research reports. Truist Financial initiated 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 objective on Deere & Company from $400.00 to $420.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 15th. Raymond James initiated coverage on Deere & Company in a report on Friday. They set an “outperform” rating and a $420.00 target price on the stock. Morgan Stanley upped their price target on shares of Deere & Company from $430.00 to $450.00 in a report on Wednesday, May 15th. Finally, Citigroup assumed coverage on shares of Deere & Company in a research note on Wednesday. They issued a “neutral” rating and a $395.00 price objective on the stock. Eleven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $430.55.

Insider Activity

In other news, insider Cory J. Reed sold 13,370 shares of the company’s stock in a transaction dated 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 completion of the transaction, the insider now owns 41,642 shares of the company’s stock, valued at $15,725,268.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.26% of the stock is owned by company insiders.

Deere & Company Stock Down 0.4 %

Deere & Company stock traded down $1.68 during mid-day trading on Friday, hitting $373.63. 6,689,701 shares of the company’s stock were exchanged, compared to its average volume of 1,409,983. Deere & Company has a 1-year low of $353.15 and a 1-year high of $450.00. The stock has a 50 day moving average of $385.32 and a two-hundred day moving average of $387.29. The company has a current ratio of 2.01, a quick ratio of 1.80 and a debt-to-equity ratio of 1.81. The stock has a market cap of $102.96 billion, a P/E ratio of 11.25, a P/E/G ratio of 1.50 and a beta of 0.98.

Deere & Company (NYSE:DE) last posted 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 analyst estimates of $13.29 billion. During the same period in the previous year, the company earned $9.65 EPS. The company’s revenue for the quarter was down 15.4% on a year-over-year basis. As a group, analysts anticipate that Deere & Company will post 25.61 EPS for the current fiscal year.

Deere & Company Dividend Announcement

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

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.