Naviter Wealth LLC Acquires 1,287 Shares of Deere & Company (NYSE:DE)

Naviter Wealth LLC boosted its stake in shares of Deere & Company (NYSE:DE) by 97.7% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,604 shares of the industrial products company’s stock after acquiring an additional 1,287 shares during the period. Naviter Wealth LLC’s holdings in Deere & Company were worth $1,073,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Applied Capital LLC FL grew its position in shares of Deere & Company by 103.7% during the first quarter. Applied Capital LLC FL now owns 2,506 shares of the industrial products company’s stock valued at $1,029,000 after purchasing an additional 1,276 shares in the last quarter. Cullinan Associates Inc. increased its stake in Deere & Company by 48.1% in the 1st quarter. Cullinan Associates Inc. now owns 27,198 shares of the industrial products company’s stock worth $11,171,000 after acquiring an additional 8,832 shares during the last quarter. AlphaMark Advisors LLC increased its stake in Deere & Company by 31.1% in the 1st quarter. AlphaMark Advisors LLC now owns 135 shares of the industrial products company’s stock worth $55,000 after acquiring an additional 32 shares during the last quarter. Silvia Mccoll Wealth Management LLC purchased a new stake in shares of Deere & Company during the 1st quarter worth approximately $238,000. Finally, Claro Advisors LLC boosted its position in shares of Deere & Company by 18.1% during the 1st quarter. Claro Advisors LLC now owns 902 shares of the industrial products company’s stock valued at $370,000 after acquiring an additional 138 shares during the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Insider Transactions at Deere & Company

In other news, insider Cory J. Reed sold 13,370 shares of the business’s stock in a transaction dated 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 sale, the insider now owns 41,642 shares in the company, valued at $15,725,268.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.26% of the company’s stock.

Deere & Company Trading Up 1.1 %

Shares of NYSE DE opened at $364.95 on Wednesday. Deere & Company has a 1-year low of $353.15 and a 1-year high of $450.00. The business has a fifty day moving average price of $384.54 and a 200 day moving average price of $387.09. The stock has a market capitalization of $100.57 billion, a P/E ratio of 10.99, a price-to-earnings-growth ratio of 1.50 and a beta of 0.93. The company has a debt-to-equity ratio of 1.81, a current ratio of 2.01 and a quick ratio of 1.80.

Deere & Company (NYSE:DE) last released 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 business had revenue of $13.61 billion during the quarter, compared to analyst estimates of $13.29 billion. During the same period in the prior year, the firm posted $9.65 earnings per share. The company’s quarterly revenue was down 15.4% on a year-over-year basis. Equities research analysts expect that Deere & Company will post 25.59 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 8th. Shareholders of record on Friday, June 28th will be issued a $1.47 dividend. This represents a $5.88 annualized dividend and a yield of 1.61%. The ex-dividend date of this dividend is Friday, June 28th. Deere & Company’s dividend payout ratio is currently 17.70%.

Wall Street Analyst Weigh In

DE has been the topic of a number of recent research reports. Morgan Stanley upped their price target on shares of Deere & Company from $430.00 to $450.00 in a research note on Wednesday, May 15th. Raymond James began coverage on shares of Deere & Company in a report on Friday, June 28th. They issued an “outperform” rating and a $420.00 price target for the company. Stifel Nicolaus boosted their price objective on Deere & Company from $425.00 to $450.00 and gave the stock a “buy” rating in a research note on Friday, May 17th. Truist Financial lowered their price objective on Deere & Company from $460.00 to $439.00 and set a “buy” rating for the company in a research note on Tuesday. Finally, DA Davidson cut their target price on Deere & Company from $483.00 to $465.00 and set a “buy” rating on the stock in a research report on Monday, May 20th. Eleven analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $427.66.

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.