Chemistry Wealth Management LLC Buys Shares of 562 Deere & Company (NYSE:DE)

Chemistry Wealth Management LLC bought a new stake in shares of Deere & Company (NYSE:DE) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 562 shares of the industrial products company’s stock, valued at approximately $231,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Tompkins Financial Corp increased its position in shares of Deere & Company by 2.6% during the first quarter. Tompkins Financial Corp now owns 981 shares of the industrial products company’s stock valued at $403,000 after acquiring an additional 25 shares in the last quarter. Essex Savings Bank boosted its holdings in Deere & Company by 0.5% in the fourth quarter. Essex Savings Bank now owns 5,367 shares of the industrial products company’s stock worth $2,146,000 after purchasing an additional 26 shares during the last quarter. Valley National Advisers Inc. boosted its holdings in Deere & Company by 1.5% in the fourth quarter. Valley National Advisers Inc. now owns 1,879 shares of the industrial products company’s stock worth $751,000 after purchasing an additional 27 shares during the last quarter. Bleakley Financial Group LLC boosted its holdings in Deere & Company by 0.5% in the fourth quarter. Bleakley Financial Group LLC now owns 5,158 shares of the industrial products company’s stock worth $2,063,000 after purchasing an additional 27 shares during the last quarter. Finally, Simplicity Solutions LLC boosted its holdings in Deere & Company by 0.5% in the fourth quarter. Simplicity Solutions LLC now owns 5,158 shares of the industrial products company’s stock worth $2,063,000 after purchasing an additional 27 shares during the last quarter. Institutional investors own 68.58% of the company’s stock.

Insider Transactions at Deere & Company

In other news, insider Cory J. Reed sold 13,370 shares of the business’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $377.63, for a total value of $5,048,913.10. Following the sale, the insider now directly owns 41,642 shares in the company, valued at approximately $15,725,268.46. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.26% of the company’s stock.

Deere & Company Price Performance

NYSE DE traded down $8.71 on Tuesday, reaching $369.46. The company had a trading volume of 1,648,078 shares, compared to its average volume of 1,467,098. The company has a quick ratio of 1.80, a current ratio of 2.01 and a debt-to-equity ratio of 1.81. The stock has a market capitalization of $101.81 billion, a PE ratio of 11.12, a price-to-earnings-growth ratio of 1.51 and a beta of 0.98. The firm’s 50 day moving average price is $386.75 and its 200 day moving average price is $387.08. Deere & Company has a 12 month low of $353.15 and a 12 month high of $450.00.

Deere & Company (NYSE:DE) last announced its quarterly 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 net margin of 16.15% and a return on equity of 42.26%. The company had revenue of $13.61 billion for the quarter, compared to the consensus estimate of $13.29 billion. During the same period in the previous year, the firm posted $9.65 EPS. Deere & Company’s revenue for the quarter was down 15.4% compared to the same quarter last year. As a group, equities analysts predict that Deere & Company will post 25.61 earnings per share for the current year.

Deere & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 8th. Stockholders of record on Friday, June 28th will be issued a $1.47 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.59%. Deere & Company’s dividend payout ratio (DPR) is presently 17.70%.

Analyst Ratings Changes

DE has been the topic of several research reports. Oppenheimer restated an “outperform” rating and issued a $456.00 target price on shares of Deere & Company in a report on Thursday, May 16th. Morgan Stanley lifted their price target on shares of Deere & Company from $430.00 to $450.00 in a research note on Wednesday, May 15th. JPMorgan Chase & Co. dropped their price target on shares of Deere & Company from $425.00 to $385.00 and set a “neutral” rating on the stock in a research note on Friday, May 17th. Stifel Nicolaus lifted their price target 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. Finally, Truist Financial assumed coverage on shares of Deere & Company in a research note on Thursday, March 14th. They set a “buy” rating and a $494.00 price target on the stock. Ten research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $433.36.

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.