Ashton Thomas Private Wealth LLC Has $3.61 Million Position in Deere & Company (NYSE:DE)

Ashton Thomas Private Wealth LLC lifted its position in Deere & Company (NYSE:DE) by 25.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 8,783 shares of the industrial products company’s stock after purchasing an additional 1,776 shares during the quarter. Ashton Thomas Private Wealth LLC’s holdings in Deere & Company were worth $3,608,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in DE. True Wealth Design LLC increased its stake 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 buying an additional 59 shares in the last quarter. Rakuten Securities Inc. acquired a new stake in Deere & Company in the 4th quarter valued at about $28,000. Naples Money Management LLC bought a new position in shares of Deere & Company in the fourth quarter worth about $29,000. Private Wealth Management Group LLC bought a new stake in shares of Deere & Company during the fourth quarter valued at approximately $29,000. Finally, Bfsg LLC acquired a new stake in shares of Deere & Company in the fourth quarter valued at approximately $30,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Stock Down 1.2 %

NYSE DE traded down $4.26 during trading on Friday, hitting $358.53. The stock had a trading volume of 322,665 shares, compared to its average volume of 1,500,624. Deere & Company has a 12 month low of $353.15 and a 12 month high of $450.00. 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 company’s 50-day moving average price is $382.63 and its two-hundred day moving average price is $386.61. The company has a market capitalization of $98.80 billion, a PE ratio of 10.92, a P/E/G ratio of 1.46 and a beta of 0.93.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, May 16th. The industrial products company reported $8.53 earnings per share for the quarter, beating analysts’ consensus estimates of $7.86 by $0.67. Deere & Company had a net margin of 16.15% and a return on equity of 42.26%. The business had revenue of $13.61 billion during the quarter, compared to the consensus estimate of $13.29 billion. During the same quarter last year, the firm earned $9.65 earnings per share. The firm’s revenue for the quarter was down 15.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Deere & Company will post 25.59 EPS for the current year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 8th. Investors of record on Friday, June 28th will be given a dividend of $1.47 per share. The ex-dividend date is Friday, June 28th. This represents a $5.88 annualized dividend and a yield of 1.64%. Deere & Company’s dividend payout ratio (DPR) is presently 17.70%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. DA Davidson dropped their target price on Deere & Company from $483.00 to $465.00 and set a “buy” rating for the company in a research report on Monday, May 20th. Morgan Stanley upped their target price on shares of Deere & Company from $430.00 to $450.00 in a research report on Wednesday, May 15th. Oppenheimer restated an “outperform” rating and issued a $456.00 price target on shares of Deere & Company in a research report on Thursday, May 16th. Citigroup initiated coverage on Deere & Company in a research note on Wednesday, June 26th. They set a “neutral” rating and a $395.00 price objective for the company. Finally, Truist Financial reduced their target price on Deere & Company from $460.00 to $439.00 and set a “buy” rating on the stock in a report on Tuesday. Eleven analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, Deere & Company has an average rating of “Hold” and an average target price of $427.66.

Insider Buying and Selling at Deere & Company

In related news, insider Cory J. Reed sold 13,370 shares of the business’s stock in a transaction 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 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 is available through this link. Corporate insiders own 0.26% of the company’s stock.

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.