Deere & Company (NYSE:DE) Shares Purchased by Lake Street Advisors Group LLC

Lake Street Advisors Group LLC boosted its position in shares of Deere & Company (NYSE:DE) by 19.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,521 shares of the industrial products company’s stock after buying an additional 413 shares during the period. Lake Street Advisors Group LLC’s holdings in Deere & Company were worth $1,039,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. True Wealth Design LLC increased its position 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 valued at $26,000 after acquiring an additional 59 shares during the period. ZRC Wealth Management LLC acquired a new stake in shares of Deere & Company during the fourth quarter worth $28,000. Rakuten Securities Inc. purchased a new position in Deere & Company in the 4th quarter valued at $28,000. Naples Money Management LLC acquired a new position in Deere & Company in the 4th quarter valued at $29,000. Finally, Private Wealth Management Group LLC purchased a new position in Deere & Company during the 4th quarter worth $29,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Performance

Shares of Deere & Company stock traded down $2.13 during mid-day trading on Wednesday, hitting $369.39. 1,246,848 shares of the stock were exchanged, compared to its average volume of 1,504,146. Deere & Company has a 12 month low of $345.93 and a 12 month high of $450.00. The company has a 50-day simple moving average of $373.06 and a 200 day simple moving average of $383.86. The company has a market capitalization of $101.79 billion, a P/E ratio of 11.12, a P/E/G ratio of 1.54 and a beta of 0.93. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.80 and a current ratio of 2.01.

Deere & Company (NYSE:DE) last announced its 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 net margin of 16.15% and a return on equity of 42.26%. The business had revenue of $13.61 billion for the quarter, compared to the consensus estimate of $13.29 billion. During the same period last year, the firm posted $9.65 earnings per share. Deere & Company’s quarterly revenue was down 15.4% on a year-over-year basis. Sell-side analysts anticipate that Deere & Company will post 25.41 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 8th. Investors of record on Friday, June 28th will be paid a $1.47 dividend. This represents a $5.88 annualized dividend and a dividend yield of 1.59%. The ex-dividend date of this dividend is Friday, June 28th. Deere & Company’s payout ratio is 17.70%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on DE. JPMorgan Chase & Co. reduced their price objective on shares of Deere & Company from $385.00 to $375.00 and set a “neutral” rating for the company in a research report on Thursday, July 11th. Citigroup began coverage on Deere & Company in a research note on Wednesday, June 26th. They issued a “neutral” rating and a $395.00 price target on the stock. Truist Financial cut their price objective on 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 boosted their target price on shares of Deere & Company from $430.00 to $450.00 in a research report on Wednesday, May 15th. Finally, Daiwa Capital Markets increased their price target on shares of Deere & Company from $400.00 to $420.00 and gave the company an “overweight” rating in a report on Wednesday, May 15th. Eleven equities 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, the stock currently has a consensus rating of “Hold” and an average price target of $426.71.

Insider Transactions at Deere & Company

In other Deere & Company news, insider Cory J. Reed sold 13,370 shares of the business’s stock in a transaction on 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 transaction, the insider now directly 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 can be accessed through the SEC website. 0.26% of the stock is currently owned by company insiders.

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.