WoodTrust Financial Corp Grows Position in Deere & Company (NYSE:DE)

WoodTrust Financial Corp raised its holdings in Deere & Company (NYSE:DE) by 1,559.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,567 shares of the industrial products company’s stock after purchasing an additional 14,629 shares during the period. Deere & Company accounts for about 0.7% of WoodTrust Financial Corp’s holdings, making the stock its 26th biggest position. WoodTrust Financial Corp’s holdings in Deere & Company were worth $6,394,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Hennion & Walsh Asset Management Inc. boosted its holdings in shares of Deere & Company by 2.0% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 7,617 shares of the industrial products company’s stock worth $3,129,000 after acquiring an additional 147 shares during the period. Opinicus Capital Inc. lifted its holdings in Deere & Company by 13.0% during the 1st quarter. Opinicus Capital Inc. now owns 3,375 shares of the industrial products company’s stock worth $1,386,000 after purchasing an additional 387 shares in the last quarter. Webster Bank N. A. boosted its stake in Deere & Company by 1.0% in the 1st quarter. Webster Bank N. A. now owns 3,401 shares of the industrial products company’s stock worth $1,397,000 after purchasing an additional 35 shares during the period. OneAscent Wealth Management LLC grew its holdings in Deere & Company by 65.4% during the 1st quarter. OneAscent Wealth Management LLC now owns 923 shares of the industrial products company’s stock valued at $379,000 after buying an additional 365 shares in the last quarter. Finally, Asio Capital LLC bought a new stake in shares of Deere & Company during the first quarter valued at about $202,000. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Trading Down 0.4 %

Shares of NYSE DE traded down $1.68 during midday trading on Friday, reaching $373.63. The company had a trading volume of 6,689,701 shares, compared to its average volume of 1,409,983. The firm’s fifty day moving average price is $385.32 and its 200-day moving average price is $387.02. 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 $353.15 and a one year high of $450.00. The stock has a market cap of $102.96 billion, a PE ratio of 11.25, a price-to-earnings-growth ratio of 1.51 and a beta of 0.98.

Deere & Company (NYSE:DE) last released 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 firm had revenue of $13.61 billion during the quarter, compared to analyst estimates of $13.29 billion. During the same quarter in the prior year, the firm posted $9.65 earnings per share. The business’s quarterly revenue was down 15.4% compared to the same quarter last year. On average, equities research analysts anticipate that Deere & Company will post 25.61 earnings per share for the current year.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 8th. Stockholders of record on Friday, June 28th will be issued 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 1.57%. Deere & Company’s dividend payout ratio is currently 17.70%.

Insider Buying and Selling

In other Deere & Company news, insider Cory J. Reed sold 13,370 shares of the company’s 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 owns 41,642 shares of the company’s stock, valued at approximately $15,725,268.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.26% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have recently commented on DE shares. Citigroup started coverage on shares of Deere & Company in a research report on Wednesday. They issued a “neutral” rating and a $395.00 price objective for the company. JPMorgan Chase & Co. reduced their price target on shares of Deere & Company from $425.00 to $385.00 and set a “neutral” rating for the company in a research report on Friday, May 17th. Morgan Stanley increased their price objective on Deere & Company from $430.00 to $450.00 in a research report on Wednesday, May 15th. Raymond James started coverage on Deere & Company in a research report on Friday. They set an “outperform” rating and a $420.00 target price for the company. Finally, Truist Financial began coverage on Deere & Company in a research report on Thursday, March 14th. They set a “buy” rating and a $494.00 price target for the company. Eleven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $430.55.

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.