Valley National Advisers Inc. Has $739,000 Stock Position in Deere & Company (NYSE:DE)

Valley National Advisers Inc. cut its stake in shares of Deere & Company (NYSE:DE) by 4.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,800 shares of the industrial products company’s stock after selling 79 shares during the period. Valley National Advisers Inc.’s holdings in Deere & Company were worth $739,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. AQR Capital Management LLC boosted its holdings in Deere & Company by 46.9% in the 3rd quarter. AQR Capital Management LLC now owns 134,476 shares of the industrial products company’s stock valued at $50,749,000 after purchasing an additional 42,906 shares during the period. Glenmede Trust Co. NA boosted its stake in shares of Deere & Company by 3.3% in the third quarter. Glenmede Trust Co. NA now owns 32,945 shares of the industrial products company’s stock valued at $12,433,000 after buying an additional 1,054 shares during the period. Axxcess Wealth Management LLC grew its position in Deere & Company by 273.4% during the third quarter. Axxcess Wealth Management LLC now owns 4,343 shares of the industrial products company’s stock worth $1,639,000 after buying an additional 3,180 shares in the last quarter. Alps Advisors Inc. increased its stake in Deere & Company by 503.1% during the 3rd quarter. Alps Advisors Inc. now owns 14,312 shares of the industrial products company’s stock worth $5,401,000 after acquiring an additional 11,939 shares during the period. Finally, Legacy Advisors LLC increased its stake in Deere & Company by 566.2% during the 3rd quarter. Legacy Advisors LLC now owns 3,611 shares of the industrial products company’s stock worth $1,363,000 after acquiring an additional 3,069 shares during the period. Institutional investors own 68.58% of the company’s stock.

Insider Buying and Selling

In other Deere & Company news, insider Cory J. Reed sold 13,370 shares of the stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $377.63, for a total value 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 filing with the SEC, which can be accessed through this hyperlink. 0.26% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on DE. Truist Financial reduced their price objective on Deere & Company from $460.00 to $439.00 and set a “buy” rating on the stock in a research note on Tuesday. Oppenheimer restated an “outperform” rating and issued a $456.00 price target on shares of Deere & Company in a research note on Thursday, May 16th. TD Cowen upped their price objective on shares of Deere & Company from $383.00 to $390.00 and gave the stock a “hold” rating in a research report on Friday, May 17th. DA Davidson dropped their price objective on shares of Deere & Company from $483.00 to $465.00 and set a “buy” rating for the company in a research note on Monday, May 20th. Finally, Daiwa Capital Markets boosted their target price on shares of Deere & Company from $400.00 to $420.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 15th. Eleven 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 presently has an average rating of “Hold” and a consensus target price of $427.66.

Deere & Company Stock Performance

NYSE:DE opened at $362.75 on Thursday. 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 has a twelve month low of $353.15 and a twelve month high of $450.00. The company has a fifty day moving average of $383.89 and a 200-day moving average of $386.94. The firm has a market capitalization of $99.96 billion, a P/E ratio of 10.92, a P/E/G ratio of 1.47 and a beta of 0.93.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, May 16th. The industrial products company reported $8.53 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $13.29 billion. During the same period last year, the company posted $9.65 earnings per share. The business’s quarterly revenue was down 15.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Deere & Company will post 25.59 EPS for the current year.

Deere & Company Announces Dividend

The company 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 yield of 1.62%. The ex-dividend date of this dividend is Friday, June 28th. Deere & Company’s payout ratio is 17.70%.

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.