2,200 Shares in Deere & Company (NYSE:DE) Acquired by Bayesian Capital Management LP

Bayesian Capital Management LP bought a new stake in shares of Deere & Company (NYSE:DE) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 2,200 shares of the industrial products company’s stock, valued at approximately $904,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Waverly Advisors LLC lifted its position in Deere & Company by 107.1% during the first quarter. Waverly Advisors LLC now owns 5,020 shares of the industrial products company’s stock valued at $2,062,000 after acquiring an additional 2,596 shares during the last quarter. Silvercrest Asset Management Group LLC lifted its holdings in shares of Deere & Company by 4.6% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 24,060 shares of the industrial products company’s stock valued at $9,882,000 after purchasing an additional 1,059 shares during the last quarter. Captrust Financial Advisors boosted its position in shares of Deere & Company by 283.3% in the 1st quarter. Captrust Financial Advisors now owns 134,025 shares of the industrial products company’s stock worth $55,049,000 after purchasing an additional 99,060 shares in the last quarter. Robotti Robert purchased a new position in Deere & Company during the 1st quarter worth $246,000. Finally, Bornite Capital Management LP acquired a new position in Deere & Company during the 1st quarter valued at about $8,215,000. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Deere & Company

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 value of $5,048,913.10. Following the completion of the sale, 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 can be accessed through this hyperlink. Insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

DE has been the topic of several recent analyst reports. JPMorgan Chase & Co. cut their price objective on shares of Deere & Company from $385.00 to $375.00 and set a “neutral” rating on the stock in a report on Thursday, July 11th. Daiwa Capital Markets raised their price target on shares of Deere & Company from $400.00 to $420.00 and gave the stock an “overweight” rating in a report on Wednesday, May 15th. Truist Financial dropped their price objective on shares of Deere & Company from $460.00 to $439.00 and set a “buy” rating on the stock in a report on Tuesday, July 2nd. Morgan Stanley raised their target price on Deere & Company from $430.00 to $450.00 in a research note on Wednesday, May 15th. Finally, Stifel Nicolaus boosted their price target on Deere & Company from $425.00 to $450.00 and gave the company a “buy” rating in a research note on Friday, May 17th. Eleven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $426.71.

Deere & Company Price Performance

Deere & Company stock traded down $3.79 during trading on Tuesday, reaching $372.98. The company had a trading volume of 1,717,004 shares, compared to its average volume of 1,502,862. The firm has a market capitalization of $102.78 billion, a PE ratio of 11.34, a price-to-earnings-growth ratio of 1.57 and a beta of 0.93. The firm’s 50-day simple moving average is $372.29 and its 200 day simple moving average is $383.53. 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 has a 1-year low of $345.93 and a 1-year high of $441.46.

Deere & Company (NYSE:DE) last issued 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. 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% compared to the same quarter last year. During the same period last year, the company posted $9.65 EPS. As a group, equities research analysts anticipate that Deere & Company will post 25.41 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 8th. Stockholders of record on Friday, June 28th will be given a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date of this dividend is Friday, June 28th. Deere & Company’s dividend payout ratio (DPR) is 17.70%.

Deere & 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.