Lake Street Private Wealth LLC Sells 557 Shares of Deere & Company (NYSE:DE)

Lake Street Private Wealth LLC cut its stake in shares of Deere & Company (NYSE:DE) by 16.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,854 shares of the industrial products company’s stock after selling 557 shares during the quarter. Lake Street Private Wealth LLC’s holdings in Deere & Company were worth $1,172,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank bought a new position in Deere & Company in the fourth quarter valued at about $1,248,036,000. International Assets Investment Management LLC increased its stake in shares of Deere & Company by 46,241.1% in the fourth quarter. International Assets Investment Management LLC now owns 840,627 shares of the industrial products company’s stock valued at $336,142,000 after buying an additional 838,813 shares during the period. Parnassus Investments LLC raised its holdings in Deere & Company by 22.4% in the 4th quarter. Parnassus Investments LLC now owns 3,856,171 shares of the industrial products company’s stock valued at $1,541,967,000 after buying an additional 705,771 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Deere & Company by 11.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,595,945 shares of the industrial products company’s stock valued at $638,167,000 after buying an additional 160,369 shares during the last quarter. Finally, Fisher Asset Management LLC boosted 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 buying an additional 150,713 shares during the period. 68.58% of the stock is owned by institutional investors.

Insiders Place Their Bets

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

Deere & Company Stock Performance

NYSE DE opened at $362.75 on Thursday. Deere & Company has a 1 year low of $353.15 and a 1 year high of $450.00. The company has a debt-to-equity ratio of 1.81, a current ratio of 2.01 and a quick ratio of 1.80. The firm has a market cap of $99.96 billion, a price-to-earnings ratio of 10.92, a PEG ratio of 1.47 and a beta of 0.93. The company has a fifty day moving average price of $383.89 and a 200-day moving average price of $386.94.

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

Deere & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 8th. Investors of record on Friday, June 28th will be issued a dividend of $1.47 per share. The ex-dividend date is Friday, June 28th. This represents a $5.88 dividend on an annualized basis and a yield of 1.62%. Deere & Company’s dividend payout ratio (DPR) is currently 17.70%.

Analyst Ratings Changes

Several equities analysts have issued reports on DE shares. Stifel Nicolaus upped their price target on shares of Deere & Company from $425.00 to $450.00 and gave the company a “buy” rating in a research report on Friday, May 17th. Raymond James started coverage on Deere & Company in a research report on Friday, June 28th. They set an “outperform” rating and a $420.00 target price for the company. Citigroup initiated coverage on Deere & Company in a report on Wednesday, June 26th. They set a “neutral” rating and a $395.00 target price on the stock. TD Cowen increased their price target on Deere & Company from $383.00 to $390.00 and gave the company a “hold” rating in a research note on Friday, May 17th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $456.00 price objective on shares of Deere & Company in a research note on Thursday, May 16th. Eleven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $427.66.

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.