Crewe Advisors LLC Purchases Shares of 167 Deere & Company (NYSE:DE)

Crewe Advisors LLC acquired a new position in shares of Deere & Company (NYSE:DE) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 167 shares of the industrial products company’s stock, valued at approximately $69,000.

Several other hedge funds also recently modified their holdings of DE. True Wealth Design LLC increased its holdings in shares of Deere & Company by 1,180.0% during the 4th quarter. True Wealth Design LLC now owns 64 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 59 shares during the last quarter. ZRC Wealth Management LLC bought a new position in Deere & Company during the fourth quarter worth $28,000. Rakuten Securities Inc. acquired a new position in shares of Deere & Company in the fourth quarter valued at $28,000. Naples Money Management LLC bought a new position in shares of Deere & Company in the fourth quarter valued at about $29,000. Finally, Private Wealth Management Group LLC bought a new position in shares of Deere & Company in the fourth quarter valued at about $29,000. Institutional investors own 68.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Oppenheimer decreased their price objective on Deere & Company from $465.00 to $448.00 and set an “outperform” rating on the stock in a report on Monday. Citigroup began coverage on shares of Deere & Company in a research note on Wednesday, June 26th. They issued a “neutral” rating and a $395.00 price target on the stock. Truist Financial dropped their price objective on shares of Deere & Company from $460.00 to $439.00 and set a “buy” rating for the company in a research note on Tuesday, July 2nd. DA Davidson cut their price objective on shares of Deere & Company from $483.00 to $465.00 and set a “buy” rating for the company in a report on Monday, May 20th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Deere & Company from $385.00 to $375.00 and set a “neutral” rating on the stock in a report on Thursday, July 11th. Eleven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $426.71.

Insider Transactions at Deere & Company

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 directly owns 41,642 shares of the company’s stock, valued at $15,725,268.46. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.26% of the company’s stock.

Deere & Company Stock Performance

Deere & Company stock traded up $6.07 during mid-day trading on Friday, reaching $387.76. 288,336 shares of the company’s stock were exchanged, compared to its average volume of 1,493,568. The business’s fifty day simple moving average is $372.80 and its 200 day simple moving average is $383.84. 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 one year low of $345.93 and a one year high of $441.46. The firm has a market capitalization of $106.86 billion, a PE ratio of 11.49, a P/E/G ratio of 1.50 and a beta of 0.93.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, May 16th. The industrial products company reported $8.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.86 by $0.67. Deere & Company had a net margin of 16.15% and a return on equity of 42.26%. The company 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 business earned $9.65 earnings per share. The firm’s quarterly revenue was down 15.4% compared to the same quarter last year. On average, sell-side analysts expect that Deere & Company will post 25.41 earnings per share for the current year.

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 8th. Stockholders of record on Friday, June 28th will be paid a dividend of $1.47 per share. The ex-dividend date is Friday, June 28th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.52%. Deere & Company’s dividend payout ratio (DPR) is currently 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.