Deere & Company (NYSE:DE) Stake Boosted by Affinity Capital Advisors LLC

Affinity Capital Advisors LLC increased its holdings in Deere & Company (NYSE:DE) by 1.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,176 shares of the industrial products company’s stock after buying an additional 31 shares during the quarter. Affinity Capital Advisors LLC’s holdings in Deere & Company were worth $894,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. True Wealth Design LLC boosted its position in Deere & Company by 1,180.0% in the fourth quarter. True Wealth Design LLC now owns 64 shares of the industrial products company’s stock valued at $26,000 after buying an additional 59 shares in the last quarter. ZRC Wealth Management LLC purchased a new position in Deere & Company during the fourth quarter worth about $28,000. Rakuten Securities Inc. bought a new stake in Deere & Company in the fourth quarter worth about $28,000. Naples Money Management LLC bought a new stake in Deere & Company in the fourth quarter worth about $29,000. Finally, Private Wealth Management Group LLC bought a new stake in shares of Deere & Company in the fourth quarter valued at approximately $29,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on DE shares. Citigroup started coverage on shares of Deere & Company in a report on Wednesday. They set a “neutral” rating and a $395.00 price target for the company. Stifel Nicolaus raised their target price on shares of 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 initiated coverage on shares of Deere & Company in a research report on Thursday, March 14th. They set a “buy” rating and a $494.00 price objective on the stock. JPMorgan Chase & Co. cut their price objective 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. 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 equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $431.14.

Insider Activity at Deere & Company

In other Deere & Company news, insider Cory J. Reed sold 13,370 shares of the business’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 transaction of $5,048,913.10. Following the completion of the transaction, the insider now directly 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 can be accessed through the SEC website. 0.26% of the stock is owned by company insiders.

Deere & Company Stock Up 0.1 %

Shares of NYSE:DE traded up $0.45 on Wednesday, reaching $369.92. The company had a trading volume of 227,294 shares, compared to its average volume of 1,456,531. Deere & Company has a twelve month low of $353.15 and a twelve month high of $450.00. The stock has a 50-day moving average price of $386.75 and a 200 day moving average price of $387.08. The stock has a market capitalization of $101.94 billion, a P/E ratio of 11.12, a P/E/G ratio of 1.52 and a beta of 0.98. The company has a quick ratio of 1.80, a current ratio of 2.01 and a debt-to-equity ratio of 1.81.

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

Deere & Company Announces Dividend

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date of this dividend is Friday, June 28th. Deere & Company’s dividend payout ratio is currently 17.70%.

Deere & 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.