Kowal Investment Group LLC Increases Stock Position in Deere & Company (NYSE:DE)

Kowal Investment Group LLC lifted its holdings in shares of Deere & Company (NYSE:DE) by 7.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 889 shares of the industrial products company’s stock after buying an additional 59 shares during the quarter. Kowal Investment Group LLC’s holdings in Deere & Company were worth $365,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. True Wealth Design LLC increased its holdings in shares of 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 buying an additional 59 shares during the last quarter. ZRC Wealth Management LLC bought a new position in shares of Deere & Company in the 4th quarter worth $28,000. Rakuten Securities Inc. bought a new position in shares of Deere & Company during the 4th quarter valued at $28,000. Naples Money Management LLC bought a new position in shares of Deere & Company during the 4th quarter valued at $29,000. Finally, Private Wealth Management Group LLC purchased a new position in Deere & Company in the 4th quarter worth $29,000. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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

Analysts Set New Price Targets

Several analysts have issued reports on DE shares. DA Davidson cut their price target on shares of Deere & Company from $483.00 to $465.00 and set a “buy” rating for the company in a research report on Monday, May 20th. JPMorgan Chase & Co. lowered their price objective 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. Truist Financial started coverage on shares of Deere & Company in a report on Thursday, March 14th. They issued a “buy” rating and a $494.00 target price on the stock. Stifel Nicolaus upped their price target on shares of Deere & Company from $425.00 to $450.00 and gave the company a “buy” rating in a report on Friday, May 17th. Finally, Oppenheimer reissued an “outperform” rating and issued a $456.00 price target on shares of Deere & Company in a report on Thursday, May 16th. Eleven 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.com, the stock presently has an average rating of “Hold” and an average price target of $430.55.

Deere & Company Stock Performance

Shares of NYSE:DE traded down $10.53 during midday trading on Monday, hitting $363.10. The company had a trading volume of 786,900 shares, compared to its average volume of 1,512,866. The company has a debt-to-equity ratio of 1.81, a current ratio of 2.01 and a quick ratio of 1.80. The company has a market cap of $100.06 billion, a price-to-earnings ratio of 11.02, a PEG ratio of 1.50 and a beta of 0.93. Deere & Company has a 12-month low of $353.15 and a 12-month high of $450.00. The company has a fifty day moving average of $385.32 and a two-hundred day moving average of $387.29.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, May 16th. The industrial products company reported $8.53 EPS for the quarter, topping the consensus estimate of $7.86 by $0.67. The firm had revenue of $13.61 billion during the quarter, compared to analyst estimates of $13.29 billion. Deere & Company had a return on equity of 42.26% and a net margin of 16.15%. Deere & Company’s revenue was down 15.4% on a year-over-year basis. During the same period in the prior year, the business posted $9.65 EPS. On average, equities research analysts expect that Deere & Company will post 25.61 EPS for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 8th. Shareholders of record on Friday, June 28th will be paid a $1.47 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $5.88 dividend on an annualized basis and a yield of 1.62%. Deere & Company’s payout ratio is presently 17.70%.

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.