Kathmere Capital Management LLC Sells 27 Shares of Deere & Company (NYSE:DE)

Kathmere Capital Management LLC reduced its stake in shares of Deere & Company (NYSE:DE) by 4.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 570 shares of the industrial products company’s stock after selling 27 shares during the quarter. Kathmere Capital Management LLC’s holdings in Deere & Company were worth $234,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Pinnacle Associates Ltd. grew its stake in shares of Deere & Company by 21.3% in the fourth quarter. Pinnacle Associates Ltd. now owns 5,355 shares of the industrial products company’s stock worth $2,141,000 after purchasing an additional 939 shares during the last quarter. Harbor Investment Advisory LLC grew its stake in shares of Deere & Company by 27.4% in the first quarter. Harbor Investment Advisory LLC now owns 1,730 shares of the industrial products company’s stock worth $710,000 after purchasing an additional 372 shares during the last quarter. Penserra Capital Management LLC grew its stake in shares of Deere & Company by 2.4% in the third quarter. Penserra Capital Management LLC now owns 236,696 shares of the industrial products company’s stock worth $89,322,000 after purchasing an additional 5,485 shares during the last quarter. Summit Asset Management LLC grew its stake in shares of Deere & Company by 24.1% in the fourth quarter. Summit Asset Management LLC now owns 1,030 shares of the industrial products company’s stock worth $412,000 after purchasing an additional 200 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Deere & Company by 2.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,570,773 shares of the industrial products company’s stock worth $628,105,000 after purchasing an additional 31,074 shares during the last quarter. 68.58% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on DE. Daiwa Capital Markets raised their target price on Deere & Company from $400.00 to $420.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 15th. Stifel Nicolaus lifted their price objective on Deere & Company from $425.00 to $450.00 and gave the company a “buy” rating in a research report on Friday, May 17th. Citigroup assumed coverage on Deere & Company in a research report on Wednesday. They set a “neutral” rating and a $395.00 price objective on the stock. Truist Financial assumed coverage on Deere & Company in a research report on Thursday, March 14th. They set a “buy” rating and a $494.00 price objective on the stock. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $456.00 price objective on shares of Deere & Company in a research report on Thursday, May 16th. Eleven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $430.55.

Deere & Company Stock Performance

DE stock opened at $373.63 on Friday. The stock has a market capitalization of $102.96 billion, a PE ratio of 11.25, a price-to-earnings-growth ratio of 1.51 and a beta of 0.98. Deere & Company has a 12-month low of $353.15 and a 12-month high of $450.00. The company has a current ratio of 2.01, a quick ratio of 1.80 and a debt-to-equity ratio of 1.81. The stock’s 50 day simple moving average is $385.32 and its 200 day simple moving average is $387.02.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, May 16th. The industrial products company reported $8.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.86 by $0.67. The business had revenue of $13.61 billion for 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%. The firm’s quarterly revenue was down 15.4% on a year-over-year basis. During the same period in the prior year, the firm posted $9.65 EPS. As a group, research analysts forecast that Deere & Company will post 25.61 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date of this dividend is Friday, June 28th. This represents a $5.88 annualized dividend and a yield of 1.57%. Deere & Company’s dividend payout ratio (DPR) is presently 17.70%.

Insider Activity

In other news, insider Cory J. Reed sold 13,370 shares of the stock in a transaction 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 directly 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 through this link. Insiders own 0.26% of the company’s stock.

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.