Dynamic Advisor Solutions LLC Buys 942 Shares of Deere & Company (NYSE:DE)

Dynamic Advisor Solutions LLC raised its stake in shares of Deere & Company (NYSE:DE) by 8.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,328 shares of the industrial products company’s stock after acquiring an additional 942 shares during the quarter. Dynamic Advisor Solutions LLC’s holdings in Deere & Company were worth $5,064,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Norges Bank acquired a new stake in Deere & Company during the 4th quarter worth about $1,248,036,000. International Assets Investment Management LLC lifted its position in Deere & Company by 46,241.1% during the 4th quarter. International Assets Investment Management LLC now owns 840,627 shares of the industrial products company’s stock worth $336,142,000 after acquiring an additional 838,813 shares during the period. Parnassus Investments LLC lifted its position in Deere & Company by 22.4% during the 4th quarter. Parnassus Investments LLC now owns 3,856,171 shares of the industrial products company’s stock worth $1,541,967,000 after acquiring an additional 705,771 shares during the period. Dimensional Fund Advisors LP lifted its position in Deere & Company by 11.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,595,945 shares of the industrial products company’s stock worth $638,167,000 after acquiring an additional 160,369 shares during the period. Finally, Fisher Asset Management LLC lifted its position in Deere & Company by 11.3% during the 4th quarter. Fisher Asset Management LLC now owns 1,481,458 shares of the industrial products company’s stock worth $592,391,000 after acquiring an additional 150,713 shares during the period. Institutional investors own 68.58% of the company’s stock.

Deere & Company Trading Down 2.3 %

DE opened at $369.46 on Wednesday. Deere & Company has a one year low of $353.15 and a one year high of $450.00. The stock has a market capitalization of $101.81 billion, a PE ratio of 11.12, a P/E/G ratio of 1.52 and a beta of 0.98. The business’s 50 day moving average price is $386.75 and its 200 day moving average price is $387.08. 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 released its quarterly earnings data on Thursday, May 16th. The industrial products company reported $8.53 EPS for the quarter, beating analysts’ consensus estimates of $7.86 by $0.67. Deere & Company had a return on equity of 42.26% and a net margin of 16.15%. The firm had revenue of $13.61 billion for the quarter, compared to analysts’ expectations of $13.29 billion. During the same period in the prior year, the firm posted $9.65 earnings per share. The firm’s quarterly revenue was down 15.4% on a year-over-year basis. As a group, equities research analysts expect that Deere & Company will post 25.61 EPS for the current year.

Deere & Company Dividend Announcement

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 issued a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date is Friday, June 28th. Deere & Company’s dividend payout ratio is presently 17.70%.

Insider Activity at Deere & Company

In related news, insider Cory J. Reed sold 13,370 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now directly owns 41,642 shares in the company, valued at $15,725,268.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.26% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. DA Davidson lowered their price target on Deere & Company from $483.00 to $465.00 and set a “buy” rating for the company in a research report on Monday, May 20th. Truist Financial began coverage on shares of Deere & Company in a report on Thursday, March 14th. They set a “buy” rating and a $494.00 target price for the company. JPMorgan Chase & Co. decreased their target price on shares of Deere & Company from $425.00 to $385.00 and set a “neutral” rating for the company in a research note on Friday, May 17th. Morgan Stanley raised their price target on shares of Deere & Company from $430.00 to $450.00 in a research report on Wednesday, May 15th. Finally, Citigroup started coverage on shares of Deere & Company in a research note on Wednesday. They set a “neutral” rating and a $395.00 target price on the stock. Eleven analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $431.14.

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.