Deere & Company (NYSE:DE) Shares Acquired by Miracle Mile Advisors LLC

Miracle Mile Advisors LLC grew its position in Deere & Company (NYSE:DE) by 21.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,916 shares of the industrial products company’s stock after acquiring an additional 683 shares during the period. Miracle Mile Advisors LLC’s holdings in Deere & Company were worth $1,609,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. True Wealth Design LLC raised its position in shares of 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 last quarter. ZRC Wealth Management LLC acquired a new position in shares of Deere & Company during the 4th quarter worth about $28,000. Rakuten Securities Inc. acquired a new position in shares of Deere & Company during the 4th quarter worth about $28,000. Naples Money Management LLC acquired a new position in shares of Deere & Company during the 4th quarter worth about $29,000. Finally, Private Wealth Management Group LLC acquired a new position in shares of Deere & Company during the 4th quarter worth about $29,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Insider Buying and Selling at Deere & Company

In other Deere & Company news, insider Cory J. Reed sold 13,370 shares of the firm’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $15,725,268.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.26% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on DE shares. Morgan Stanley upped their price target on shares of Deere & Company from $430.00 to $450.00 in a research report on Wednesday, May 15th. Daiwa Capital Markets increased their price objective 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. Truist Financial initiated coverage on shares of Deere & Company in a report on Thursday, March 14th. They issued a “buy” rating and a $494.00 price objective for the company. JPMorgan Chase & Co. dropped their price target 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. Finally, Oppenheimer reissued an “outperform” rating and issued a $456.00 price target on shares of Deere & Company in a research note on Thursday, May 16th. Eleven research 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 an average price target of $430.55.

Deere & Company Stock Performance

NYSE:DE opened at $360.77 on Tuesday. 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 stock has a market capitalization of $99.42 billion, a P/E ratio of 10.86, a PEG ratio of 1.50 and a beta of 0.93. The company has a 50 day moving average price of $385.32 and a 200 day moving average price of $387.29. Deere & Company has a fifty-two week low of $353.15 and a fifty-two week high of $450.00.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, May 16th. The industrial products company reported $8.53 EPS for the quarter, beating the consensus estimate of $7.86 by $0.67. Deere & Company had a net margin of 16.15% and a return on equity of 42.26%. The company had revenue of $13.61 billion during the quarter, compared to analysts’ expectations of $13.29 billion. During the same quarter last year, the company posted $9.65 EPS. The firm’s revenue was down 15.4% compared to the same quarter last year. Equities research analysts forecast that Deere & Company will post 25.61 EPS for the current year.

Deere & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 8th. Shareholders of record on Friday, June 28th will be given a $1.47 dividend. The ex-dividend date is Friday, June 28th. This represents a $5.88 annualized dividend and a yield of 1.63%. Deere & Company’s dividend payout ratio is presently 17.70%.

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.