Deere & Company (NYSE:DE) Shares Bought by First Foundation Advisors

First Foundation Advisors raised its stake in Deere & Company (NYSE:DE) by 2.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,249 shares of the industrial products company’s stock after purchasing an additional 28 shares during the quarter. First Foundation Advisors’ holdings in Deere & Company were worth $513,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. True Wealth Design LLC boosted its position in 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 purchasing an additional 59 shares during the period. ZRC Wealth Management LLC purchased a new stake in Deere & Company during the 4th quarter worth $28,000. Rakuten Securities Inc. purchased a new stake in Deere & Company during the 4th quarter worth $28,000. Naples Money Management LLC purchased a new stake in Deere & Company during the 4th quarter worth $29,000. Finally, Private Wealth Management Group LLC purchased a new stake in Deere & Company during the 4th quarter worth $29,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Insiders Place Their Bets

In other Deere & Company news, insider Cory J. Reed sold 13,370 shares of the company’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $377.63, for a total value of $5,048,913.10. Following the completion of the transaction, the insider now owns 41,642 shares in the company, valued at approximately $15,725,268.46. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.26% of the stock is owned by insiders.

Deere & Company Stock Performance

DE traded down $2.58 on Friday, hitting $378.06. 1,152,144 shares of the company’s stock were exchanged, compared to its average volume of 1,758,635. The firm has a market cap of $104.18 billion, a PE ratio of 11.38, a P/E/G ratio of 1.53 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 stock has a fifty day moving average of $375.35 and a two-hundred day moving average of $384.29. The company has a current ratio of 2.01, a quick ratio of 1.80 and a debt-to-equity ratio of 1.81.

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, topping the consensus estimate of $7.86 by $0.67. The firm had revenue of $13.61 billion for the quarter, compared to analyst estimates of $13.29 billion. Deere & Company had a net margin of 16.15% and a return on equity of 42.26%. Deere & Company’s quarterly revenue was down 15.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $9.65 earnings per share. On average, research analysts anticipate that Deere & Company will post 25.49 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 8th. Investors of record on Friday, June 28th will be paid a dividend of $1.47 per share. The ex-dividend date is Friday, June 28th. This represents a $5.88 annualized dividend and a yield of 1.56%. Deere & Company’s dividend payout ratio (DPR) is 17.70%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Raymond James initiated coverage on shares of Deere & Company in a research report on Friday, June 28th. They set an “outperform” rating and a $420.00 price target for the company. 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 research report on Tuesday, July 2nd. Morgan Stanley upped their price objective on shares of Deere & Company from $430.00 to $450.00 in a research report on Wednesday, May 15th. Daiwa Capital Markets upped their price objective on shares of Deere & Company from $400.00 to $420.00 and gave the company an “overweight” rating in a research report on Wednesday, May 15th. Finally, Stifel Nicolaus upped their price objective 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. 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 a consensus target price of $427.13.

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.