Angeles Wealth Management LLC Takes $244,000 Position in Deere & Company (NYSE:DE)

Angeles Wealth Management LLC purchased a new position in shares of Deere & Company (NYSE:DE) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 593 shares of the industrial products company’s stock, valued at approximately $244,000.

Several other institutional investors also recently added to or reduced their stakes in the company. State Board of Administration of Florida Retirement System increased its position in Deere & Company by 8.1% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 304,160 shares of the industrial products company’s stock valued at $125,582,000 after acquiring an additional 22,822 shares during the period. Hudson Value Partners LLC increased its holdings in shares of Deere & Company by 2.8% in the first quarter. Hudson Value Partners LLC now owns 8,150 shares of the industrial products company’s stock valued at $3,348,000 after purchasing an additional 220 shares during the period. Rogco LP raised its stake in shares of Deere & Company by 7.5% during the first quarter. Rogco LP now owns 862 shares of the industrial products company’s stock worth $354,000 after purchasing an additional 60 shares during the last quarter. Koshinski Asset Management Inc. lifted its holdings in shares of Deere & Company by 1.8% during the first quarter. Koshinski Asset Management Inc. now owns 24,773 shares of the industrial products company’s stock worth $10,175,000 after purchasing an additional 427 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in shares of Deere & Company by 1.0% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 128,196 shares of the industrial products company’s stock worth $52,655,000 after purchasing an additional 1,232 shares during the period. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Stock Down 0.5 %

Shares of NYSE DE traded down $1.74 on Thursday, hitting $383.39. The company had a trading volume of 1,157,011 shares, compared to its average volume of 1,508,685. The company has a quick ratio of 1.80, a current ratio of 2.01 and a debt-to-equity ratio of 1.81. Deere & Company has a 12-month low of $345.93 and a 12-month high of $450.00. The firm has a market capitalization of $105.65 billion, a P/E ratio of 11.55, a PEG ratio of 1.53 and a beta of 0.93. The business has a 50 day moving average of $376.51 and a two-hundred day moving average of $384.58.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, May 16th. The industrial products company reported $8.53 earnings per share for the quarter, beating the consensus estimate of $7.86 by $0.67. The business had revenue of $13.61 billion during the quarter, compared to the consensus estimate of $13.29 billion. Deere & Company had a net margin of 16.15% and a return on equity of 42.26%. The business’s quarterly revenue was down 15.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $9.65 earnings per share. As a group, equities research analysts forecast that Deere & Company will post 25.44 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 8th. Stockholders of record on Friday, June 28th will be given a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date of this dividend is Friday, June 28th. Deere & Company’s payout ratio is currently 17.70%.

Wall Street Analyst Weigh In

Several analysts recently commented on DE shares. Daiwa Capital Markets raised their price objective on shares of Deere & Company from $400.00 to $420.00 and gave the company an “overweight” rating in a research note on Wednesday, May 15th. Truist Financial reduced their price target on shares of Deere & Company from $460.00 to $439.00 and set a “buy” rating on the stock in a report on Tuesday, July 2nd. Morgan Stanley increased their price target on shares of Deere & Company from $430.00 to $450.00 in a research report on Wednesday, May 15th. DA Davidson cut their price objective 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. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $456.00 target price 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 assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $427.13.

Insider Buying and Selling

In related news, insider Cory J. Reed sold 13,370 shares of the business’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $377.63, for a total value of $5,048,913.10. Following the completion of the sale, the insider now directly owns 41,642 shares of the company’s stock, valued at $15,725,268.46. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 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.