Boston Partners Acquires 3,044 Shares of Deere & Company (NYSE:DE)

Boston Partners boosted its holdings in Deere & Company (NYSE:DE) by 0.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 406,995 shares of the industrial products company’s stock after purchasing an additional 3,044 shares during the quarter. Boston Partners owned approximately 0.15% of Deere & Company worth $166,847,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. True Wealth Design LLC raised 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 in the last quarter. Pineridge Advisors LLC raised its holdings in shares of Deere & Company by 725.0% during the 1st quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 58 shares in the last quarter. Rakuten Securities Inc. purchased a new stake in shares of Deere & Company during the 4th quarter worth approximately $28,000. Naples Money Management LLC purchased a new stake in shares of Deere & Company during the 4th quarter worth approximately $29,000. Finally, Private Wealth Management Group LLC purchased a new stake in shares of Deere & Company during the 4th quarter worth approximately $29,000. 68.58% of the stock is currently owned by institutional investors.

Deere & Company Stock Down 1.2 %

DE stock traded down $4.16 during trading on Friday, reaching $353.75. 2,820,703 shares of the company traded hands, compared to its average volume of 1,566,937. Deere & Company has a 12 month low of $345.93 and a 12 month high of $441.46. The business has a 50 day simple moving average of $370.86 and a 200 day simple moving average of $382.94. The company has a market capitalization of $97.48 billion, a price-to-earnings ratio of 10.65, a price-to-earnings-growth ratio of 1.59 and a beta of 0.93. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.80 and a current ratio of 2.01.

Deere & Company (NYSE:DE) last issued its quarterly earnings data 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 return on equity of 42.26% and a net margin of 16.15%. The company had revenue of $13.61 billion for the quarter, compared to the consensus estimate of $13.29 billion. During the same quarter last year, the company earned $9.65 earnings per share. The firm’s revenue for the quarter was down 15.4% compared to the same quarter last year. On average, equities research analysts anticipate that Deere & Company will post 25.41 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The company 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 $1.47 dividend. This represents a $5.88 annualized dividend and a dividend yield of 1.66%. The ex-dividend date is Friday, June 28th. Deere & Company’s payout ratio is 17.70%.

Analyst Ratings Changes

Several analysts recently weighed in on the company. DA Davidson decreased their price target on Deere & Company from $483.00 to $465.00 and set a “buy” rating on the stock in a report on Monday, May 20th. Oppenheimer decreased their price target on Deere & Company from $465.00 to $448.00 and set an “outperform” rating on the stock in a report on Monday, July 22nd. TD Cowen increased their price target on Deere & Company from $383.00 to $390.00 and gave the company a “hold” rating in a report on Friday, May 17th. Morgan Stanley increased their price target on Deere & Company from $430.00 to $450.00 in a report on Wednesday, May 15th. Finally, Truist Financial decreased their price target on Deere & Company from $460.00 to $439.00 and set a “buy” rating on the stock in a report on Tuesday, July 2nd. Eleven 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 stock presently has a consensus rating of “Hold” and a consensus target price of $426.71.

Insider Transactions at Deere & Company

In related news, insider Cory J. Reed sold 13,370 shares of Deere & Company stock in a transaction that occurred on 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 completion of 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 document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.26% of the company’s stock.

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.