Deere & Company (NYSE:DE) Shares Sold by Willis Johnson & Associates Inc.

Willis Johnson & Associates Inc. lowered its stake in shares of Deere & Company (NYSE:DE) by 7.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 492 shares of the industrial products company’s stock after selling 39 shares during the quarter. Willis Johnson & Associates Inc.’s holdings in Deere & Company were worth $202,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of DE. True Wealth Design LLC increased its stake in shares of Deere & Company by 1,180.0% during the 4th quarter. True Wealth Design LLC now owns 64 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 59 shares during the last quarter. ZRC Wealth Management LLC purchased a new stake in shares of Deere & Company during the 4th quarter worth about $28,000. Rakuten Securities Inc. purchased a new stake in shares of Deere & Company during the 4th quarter worth about $28,000. Naples Money Management LLC purchased a new stake in shares of Deere & Company during the 4th quarter worth about $29,000. Finally, Private Wealth Management Group LLC purchased a new stake in shares of Deere & Company during the 4th quarter worth about $29,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Stock Performance

Shares of DE opened at $362.79 on Friday. The business’s 50 day moving average is $382.63 and its two-hundred day moving average is $386.61. Deere & Company has a 52-week low of $353.15 and a 52-week high of $450.00. The firm has a market cap of $99.97 billion, a price-to-earnings ratio of 10.92, a PEG ratio of 1.46 and a beta of 0.93. 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 announced its earnings results on Thursday, May 16th. The industrial products company reported $8.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.86 by $0.67. Deere & Company had a return on equity of 42.26% and a net margin of 16.15%. The company had revenue of $13.61 billion for the quarter, compared to analyst estimates of $13.29 billion. During the same period in the prior year, the company posted $9.65 EPS. Deere & Company’s quarterly revenue was down 15.4% on a year-over-year basis. Analysts forecast that Deere & Company will post 25.59 EPS for the current fiscal year.

Deere & Company Announces Dividend

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

Analyst Ratings Changes

A number of analysts have recently issued reports on DE shares. Citigroup started coverage on Deere & Company in a report on Wednesday, June 26th. They set a “neutral” rating and a $395.00 target price for the company. Stifel Nicolaus boosted their target price on Deere & Company from $425.00 to $450.00 and gave the stock a “buy” rating in a report on Friday, May 17th. TD Cowen boosted their target price on Deere & Company from $383.00 to $390.00 and gave the stock a “hold” rating in a report on Friday, May 17th. JPMorgan Chase & Co. decreased their target price on Deere & Company from $425.00 to $385.00 and set a “neutral” rating for the company in a report on Friday, May 17th. Finally, Daiwa Capital Markets upped their price target on Deere & Company from $400.00 to $420.00 and gave the stock an “overweight” rating in a report on Wednesday, May 15th. Eleven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $427.66.

Insider Activity at Deere & Company

In related news, insider Cory J. Reed sold 13,370 shares of the company’s 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 sale, 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 filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.26% of the company’s stock.

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.