River Street Advisors LLC Has $817,000 Stock Position in Deere & Company (NYSE:DE)

River Street Advisors LLC lifted its holdings in shares of Deere & Company (NYSE:DE) by 3.1% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,990 shares of the industrial products company’s stock after buying an additional 59 shares during the period. River Street Advisors LLC’s holdings in Deere & Company were worth $817,000 as of its most recent filing with the SEC.

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

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Stifel Nicolaus increased their price target on Deere & Company from $425.00 to $450.00 and gave the stock a “buy” rating in a report on Friday, May 17th. Raymond James assumed coverage on Deere & Company in a research report on Friday. They set an “outperform” rating and a $420.00 price target for the company. Truist Financial assumed 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. JPMorgan Chase & Co. decreased their price target on Deere & Company from $425.00 to $385.00 and set a “neutral” rating for the company in a research report on Friday, May 17th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $456.00 price target on shares of Deere & Company in a research report on Thursday, May 16th. Eleven analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Deere & Company presently has an average rating of “Hold” and a consensus target price of $430.55.

Deere & Company Price Performance

NYSE:DE traded down $1.68 during trading hours on Friday, hitting $373.63. 6,689,701 shares of the company’s stock traded hands, compared to its average volume of 1,409,983. The firm has a market cap of $102.96 billion, a P/E ratio of 11.25, a P/E/G ratio of 1.50 and a beta of 0.98. Deere & Company has a 52 week low of $353.15 and a 52 week high of $450.00. The business’s fifty day simple moving average is $385.32 and its two-hundred day simple moving average is $387.21. 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 (NYSE:DE) last released its quarterly earnings results 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 business 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 business posted $9.65 earnings per share. The company’s revenue for the quarter was down 15.4% on a year-over-year basis. On average, research analysts anticipate that Deere & Company will post 25.61 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

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

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 owns 41,642 shares in the company, valued at $15,725,268.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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.