Deere & Company (NYSE:DE) Shares Bought by Alaethes Wealth LLC

Alaethes Wealth LLC raised its holdings in shares of Deere & Company (NYSE:DE) by 3.2% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 4,087 shares of the industrial products company’s stock after buying an additional 128 shares during the quarter. Alaethes Wealth LLC’s holdings in Deere & Company were worth $1,533,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of DE. True Wealth Design LLC raised its holdings in shares of 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 purchasing an additional 59 shares during the last quarter. Pineridge Advisors LLC grew its position in Deere & Company by 725.0% during the 1st quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 58 shares during the period. Livelsberger Financial Advisory purchased a new position in shares of Deere & Company during the 4th quarter valued at about $30,000. Spartan Planning & Wealth Management purchased a new position in shares of Deere & Company during the 4th quarter valued at about $33,000. Finally, Core Wealth Advisors Inc. lifted its holdings in shares of Deere & Company by 466.7% in the 4th quarter. Core Wealth Advisors Inc. now owns 85 shares of the industrial products company’s stock valued at $34,000 after buying an additional 70 shares during the period. 68.58% of the stock is currently owned by institutional investors and hedge funds.

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 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 in the company, valued at $15,725,268.46. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on DE. Morgan Stanley reduced their price target on Deere & Company from $450.00 to $425.00 and set an “overweight” rating for the company in a research report on Monday, August 26th. Truist Financial reaffirmed a “buy” rating and set a $443.00 target price (up from $439.00) on shares of Deere & Company in a report on Friday, August 16th. BMO Capital Markets assumed coverage on shares of Deere & Company in a report on Friday, August 9th. They set a “market perform” rating and a $400.00 price target on the stock. Raymond James started coverage on shares of Deere & Company in a research report on Friday, June 28th. They set an “outperform” rating and a $420.00 price target on the stock. Finally, Hsbc Global Res downgraded shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 19th. Fourteen equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $409.88.

Deere & Company Stock Down 0.9 %

Shares of DE opened at $405.89 on Friday. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.87 and a current ratio of 2.07. Deere & Company has a one year low of $340.20 and a one year high of $417.46. The stock has a market capitalization of $111.85 billion, a price-to-earnings ratio of 12.22, a PEG ratio of 1.29 and a beta of 0.92. The stock has a 50 day moving average price of $376.24 and a 200 day moving average price of $382.66.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.63 by $0.66. The business had revenue of $11.39 billion during the quarter, compared to analyst estimates of $10.94 billion. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The company’s revenue for the quarter was down 20.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $10.20 earnings per share. Equities research analysts forecast that Deere & Company will post 25.07 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Monday, September 30th will be issued a $1.47 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a yield of 1.45%. Deere & Company’s payout ratio is 17.70%.

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.