Broderick Brian C Acquires 200 Shares of Deere & Company (NYSE:DE)

Broderick Brian C raised its holdings in shares of Deere & Company (NYSE:DE) by 21.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,150 shares of the industrial products company’s stock after purchasing an additional 200 shares during the period. Broderick Brian C’s holdings in Deere & Company were worth $472,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank bought a new position in shares of Deere & Company in the 4th quarter worth approximately $1,248,036,000. International Assets Investment Management LLC increased its position in Deere & Company by 46,241.1% during the 4th quarter. International Assets Investment Management LLC now owns 840,627 shares of the industrial products company’s stock valued at $336,142,000 after buying an additional 838,813 shares in the last quarter. Parnassus Investments LLC increased its position in Deere & Company by 22.4% during the 4th quarter. Parnassus Investments LLC now owns 3,856,171 shares of the industrial products company’s stock valued at $1,541,967,000 after buying an additional 705,771 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Deere & Company by 11.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,595,945 shares of the industrial products company’s stock valued at $638,167,000 after buying an additional 160,369 shares in the last quarter. Finally, Fisher Asset Management LLC increased its position in Deere & Company by 11.3% during the 4th quarter. Fisher Asset Management LLC now owns 1,481,458 shares of the industrial products company’s stock valued at $592,391,000 after buying an additional 150,713 shares in the last quarter. Institutional investors own 68.58% of the company’s stock.

Insider Buying and Selling at Deere & Company

In other Deere & Company news, insider Cory J. Reed sold 13,370 shares of the firm’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $377.63, for a total transaction of $5,048,913.10. Following the sale, the insider now directly owns 41,642 shares of the company’s stock, valued at $15,725,268.46. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.26% of the company’s stock.

Deere & Company Stock Performance

NYSE DE traded up $10.08 on Thursday, hitting $361.61. 1,765,279 shares of the company traded hands, compared to its average volume of 1,515,736. The company has a market capitalization of $99.65 billion, a price-to-earnings ratio of 10.89, a P/E/G ratio of 1.43 and a beta of 0.93. 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 business’s 50 day moving average price is $378.79 and its 200-day moving average price is $385.38. Deere & Company has a 52-week low of $345.93 and a 52-week high of $450.00.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, May 16th. The industrial products company reported $8.53 EPS for the quarter, beating analysts’ consensus estimates of $7.86 by $0.67. The business had revenue of $13.61 billion for the quarter, compared to analysts’ expectations of $13.29 billion. Deere & Company had a return on equity of 42.26% and a net margin of 16.15%. The business’s quarterly revenue was down 15.4% on a year-over-year basis. During the same period last year, the firm earned $9.65 earnings per share. Equities analysts expect that Deere & Company will post 25.56 earnings per share for the current year.

Deere & Company Announces Dividend

The firm 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. 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 1.63%. Deere & Company’s dividend payout ratio is presently 17.70%.

Analysts Set New Price Targets

DE has been the subject of a number of analyst reports. 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. Citigroup began coverage on Deere & Company in a research note on Wednesday, June 26th. They set a “neutral” rating and a $395.00 target price on the stock. JPMorgan Chase & Co. cut their target price on Deere & Company from $385.00 to $375.00 and set a “neutral” rating on the stock in a research note on Thursday. DA Davidson cut their target price on Deere & Company from $483.00 to $465.00 and set a “buy” rating on the stock in a research note on Monday, May 20th. Finally, Oppenheimer restated an “outperform” rating and issued a $456.00 price target on shares of Deere & Company in a research note on Thursday, May 16th. Eleven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $427.13.

Deere & Company 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.