Mutual Advisors LLC Has $2.53 Million Position in Deere & Company (NYSE:DE)

Mutual Advisors LLC increased its stake in shares of Deere & Company (NYSE:DE) by 7.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,148 shares of the industrial products company’s stock after purchasing an additional 441 shares during the quarter. Mutual Advisors LLC’s holdings in Deere & Company were worth $2,525,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. iA Global Asset Management Inc. increased its holdings in Deere & Company by 109.7% in the third quarter. iA Global Asset Management Inc. now owns 2,655 shares of the industrial products company’s stock worth $1,002,000 after buying an additional 1,389 shares during the last quarter. Townsquare Capital LLC increased its stake in shares of Deere & Company by 15.2% during the 3rd quarter. Townsquare Capital LLC now owns 4,608 shares of the industrial products company’s stock worth $1,739,000 after purchasing an additional 607 shares during the last quarter. Moneta Group Investment Advisors LLC raised its holdings in shares of Deere & Company by 1.0% during the 3rd quarter. Moneta Group Investment Advisors LLC now owns 3,029 shares of the industrial products company’s stock valued at $1,143,000 after purchasing an additional 30 shares in the last quarter. First Foundation Advisors boosted its holdings in Deere & Company by 2.2% in the third quarter. First Foundation Advisors now owns 2,265 shares of the industrial products company’s stock worth $855,000 after purchasing an additional 48 shares in the last quarter. Finally, Harbour Investments Inc. increased its position in Deere & Company by 22.7% during the third quarter. Harbour Investments Inc. now owns 4,761 shares of the industrial products company’s stock worth $1,797,000 after buying an additional 882 shares during the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Wall Street Analysts Forecast Growth

DE has been the subject of several recent analyst reports. DA Davidson decreased their price target on Deere & Company from $483.00 to $465.00 and set a “buy” rating for the company in a research note on Monday, May 20th. Daiwa Capital Markets upped their target price on Deere & Company from $400.00 to $420.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 15th. Stifel Nicolaus lifted their price target on shares of Deere & Company from $425.00 to $450.00 and gave the company a “buy” rating in a research report on Friday, May 17th. Truist Financial decreased their price objective on shares of Deere & Company from $460.00 to $439.00 and set a “buy” rating for the company in a report on Tuesday, July 2nd. Finally, TD Cowen raised their target price on shares of Deere & Company from $383.00 to $390.00 and gave the company a “hold” rating in a research note on Friday, May 17th. Eleven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, Deere & Company presently has a consensus rating of “Hold” and a consensus price target of $427.66.

Insider Buying and Selling at Deere & Company

In related news, insider Cory J. Reed sold 13,370 shares of the business’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $377.63, for a total value of $5,048,913.10. Following the sale, the insider now owns 41,642 shares of the company’s stock, valued at approximately $15,725,268.46. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.26% of the company’s stock.

Deere & Company Stock Performance

Shares of NYSE DE traded down $6.16 during trading hours on Tuesday, reaching $348.84. The stock had a trading volume of 2,112,622 shares, compared to its average volume of 1,514,122. The company has a market cap of $96.13 billion, a price-to-earnings ratio of 10.54, a PEG ratio of 1.45 and a beta of 0.93. Deere & Company has a twelve month low of $345.93 and a twelve month high of $450.00. The business’s fifty day moving average is $381.05 and its two-hundred day moving average is $386.12. The company has a debt-to-equity ratio of 1.81, a current ratio of 2.01 and a quick ratio of 1.80.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, May 16th. The industrial products company reported $8.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $13.29 billion. During the same quarter in the prior year, the company posted $9.65 EPS. The business’s revenue was down 15.4% on a year-over-year basis. As a group, research analysts expect that Deere & Company will post 25.59 EPS for the current year.

Deere & Company Dividend Announcement

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 dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date of this dividend is Friday, June 28th. Deere & Company’s dividend payout ratio is 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.