Deere & Company (NYSE:DE) Stake Increased by Diversified Trust Co

Diversified Trust Co increased its holdings in shares of Deere & Company (NYSE:DE) by 10.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,448 shares of the industrial products company’s stock after buying an additional 412 shares during the quarter. Diversified Trust Co’s holdings in Deere & Company were worth $1,827,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of DE. True Wealth Design LLC increased its position in Deere & Company by 1,180.0% during the fourth quarter. True Wealth Design LLC now owns 64 shares of the industrial products company’s stock worth $26,000 after buying an additional 59 shares during the last quarter. ZRC Wealth Management LLC bought a new position in shares of Deere & Company in the 4th quarter valued at approximately $28,000. Rakuten Securities Inc. acquired a new stake in Deere & Company in the 4th quarter worth approximately $28,000. Naples Money Management LLC acquired a new stake in Deere & Company in the 4th quarter worth approximately $29,000. Finally, Private Wealth Management Group LLC bought a new stake in Deere & Company during the fourth quarter worth approximately $29,000. 68.58% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

Deere & Company Price Performance

Deere & Company stock traded down $6.84 on Monday, reaching $366.79. The company’s stock had a trading volume of 326,403 shares, compared to its average volume of 1,509,498. Deere & Company has a twelve month low of $353.15 and a twelve month high of $450.00. The company has a market cap of $101.08 billion, a price-to-earnings ratio of 11.02, a PEG ratio of 1.50 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. The business’s fifty day moving average price is $385.32 and its 200 day moving average price is $387.29.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, May 16th. The industrial products company reported $8.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.86 by $0.67. The business had revenue of $13.61 billion for the quarter, compared to the consensus estimate of $13.29 billion. Deere & Company had a net margin of 16.15% and a return on equity of 42.26%. The firm’s quarterly revenue was down 15.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $9.65 EPS. Equities analysts expect that Deere & Company will post 25.61 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 8th. Investors of record on Friday, June 28th will be given a $1.47 dividend. This represents a $5.88 annualized dividend and a yield of 1.60%. The ex-dividend date is Friday, June 28th. Deere & Company’s dividend payout ratio (DPR) is presently 17.70%.

Wall Street Analysts Forecast Growth

DE has been the subject of a number of analyst reports. Truist Financial began coverage on shares of Deere & Company in a research note on Thursday, March 14th. They issued a “buy” rating and a $494.00 price objective for the company. DA Davidson dropped their price objective on Deere & Company from $483.00 to $465.00 and set a “buy” rating on the stock in a research note on Monday, May 20th. Morgan Stanley increased their target price on Deere & Company from $430.00 to $450.00 in a research note on Wednesday, May 15th. Raymond James initiated coverage on Deere & Company in a research report on Friday. They issued an “outperform” rating and a $420.00 price target on the stock. Finally, JPMorgan Chase & Co. dropped their target price on shares of Deere & Company from $425.00 to $385.00 and set a “neutral” rating on the stock in a research report on Friday, May 17th. Eleven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, Deere & Company currently has an average rating of “Hold” and a consensus price target of $430.55.

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.