Lincoln Capital LLC Sells 248 Shares of Deere & Company (NYSE:DE)

Lincoln Capital LLC reduced its position in shares of Deere & Company (NYSE:DE) by 4.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,830 shares of the industrial products company’s stock after selling 248 shares during the period. Lincoln Capital LLC’s holdings in Deere & Company were worth $1,984,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. True Wealth Design LLC lifted its holdings in 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 worth $26,000 after buying an additional 59 shares during the period. Rakuten Securities Inc. bought a new stake in Deere & Company in the fourth quarter valued at approximately $28,000. Naples Money Management LLC bought a new stake in Deere & Company in the fourth quarter valued at approximately $29,000. Private Wealth Management Group LLC acquired a new stake in Deere & Company during the 4th quarter valued at approximately $29,000. Finally, Bfsg LLC acquired a new position in shares of Deere & Company in the 4th quarter worth approximately $30,000. 68.58% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Deere & Company

In other Deere & Company news, insider Cory J. Reed sold 13,370 shares of the company’s stock in a transaction dated 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 sale, the insider now directly owns 41,642 shares in the company, valued at $15,725,268.46. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.26% of the company’s stock.

Deere & Company Stock Performance

DE stock traded up $3.58 during midday trading on Friday, reaching $378.90. 360,840 shares of the company’s stock traded hands, compared to its average volume of 1,467,092. The firm has a market capitalization of $104.41 billion, a PE ratio of 11.43, a price-to-earnings-growth ratio of 1.51 and a beta of 0.98. The company has a 50-day moving average price of $386.34 and a two-hundred day moving average price of $387.01. Deere & Company has a 52 week low of $353.15 and a 52 week high of $450.00. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.80 and a current ratio of 2.01.

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

Deere & Company Dividend Announcement

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. The ex-dividend date of this dividend is Friday, June 28th. This represents a $5.88 dividend on an annualized basis and a yield of 1.55%. Deere & Company’s payout ratio is 17.70%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Oppenheimer reiterated an “outperform” rating and set a $456.00 price objective on shares of Deere & Company in a research report on Thursday, May 16th. TD Cowen lifted 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. Citigroup began coverage on shares of Deere & Company in a research report on Wednesday. They set a “neutral” rating and a $395.00 price objective for the company. Raymond James assumed coverage on shares of Deere & Company in a research report on Friday. They set an “outperform” rating and a $420.00 target price on the stock. Finally, Truist Financial initiated coverage on shares of Deere & Company in a report on Thursday, March 14th. They set a “buy” rating and a $494.00 price objective on the stock. Eleven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $430.55.

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.