Deere & Company (NYSE:DE) Shares Purchased by Retirement Guys Formula LLC

Retirement Guys Formula LLC boosted its holdings in Deere & Company (NYSE:DE) by 28.5% during the first quarter, Holdings Channel reports. The institutional investor owned 3,271 shares of the industrial products company’s stock after buying an additional 725 shares during the period. Retirement Guys Formula LLC’s holdings in Deere & Company were worth $1,343,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in DE. Morgan Stanley lifted its stake in shares of Deere & Company by 1.3% in the 3rd quarter. Morgan Stanley now owns 5,089,159 shares of the industrial products company’s stock valued at $1,920,548,000 after purchasing an additional 65,006 shares in the last quarter. Parnassus Investments LLC lifted its stake in shares of Deere & Company by 22.4% in the 4th quarter. Parnassus Investments LLC now owns 3,856,171 shares of the industrial products company’s stock valued at $1,541,967,000 after purchasing an additional 705,771 shares in the last quarter. Norges Bank purchased a new stake in shares of Deere & Company during the 4th quarter valued at about $1,248,036,000. Dimensional Fund Advisors LP raised its holdings in shares of Deere & Company by 11.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,595,945 shares of the industrial products company’s stock valued at $638,167,000 after buying an additional 160,369 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Deere & Company by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,570,773 shares of the industrial products company’s stock valued at $628,105,000 after buying an additional 31,074 shares during the period. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Stock Performance

NYSE:DE traded down $2.16 during midday trading on Thursday, reaching $362.79. 668,937 shares of the company traded hands, compared to its average volume of 1,634,612. Deere & Company has a twelve month low of $353.15 and a twelve month high of $450.00. The firm has a market capitalization of $99.97 billion, a price-to-earnings ratio of 10.92, a price-to-earnings-growth ratio of 1.47 and a beta of 0.93. The company has a debt-to-equity ratio of 1.81, a current ratio of 2.01 and a quick ratio of 1.80. The company has a fifty day moving average price of $383.26 and a 200 day moving average price of $386.78.

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 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 business had revenue of $13.61 billion during the quarter, compared to analyst estimates of $13.29 billion. During the same quarter in the previous year, the firm posted $9.65 EPS. The business’s revenue for the quarter was down 15.4% compared to the same quarter last year. On average, analysts expect that Deere & Company will post 25.59 EPS for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 8th. Shareholders of record on Friday, June 28th will be given a dividend of $1.47 per share. 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 1.62%. Deere & Company’s dividend payout ratio (DPR) is presently 17.70%.

Insiders Place Their Bets

In other Deere & Company news, insider Cory J. Reed sold 13,370 shares of the business’s 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 completion of the transaction, the insider now owns 41,642 shares in the company, valued at approximately $15,725,268.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.26% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on DE shares. Stifel Nicolaus raised their target price on Deere & Company from $425.00 to $450.00 and gave the company a “buy” rating in a report on Friday, May 17th. JPMorgan Chase & Co. dropped their target price on Deere & Company from $425.00 to $385.00 and set a “neutral” rating on the stock in a report on Friday, May 17th. Truist Financial dropped their target price on Deere & Company from $460.00 to $439.00 and set a “buy” rating on the stock in a report on Tuesday. Morgan Stanley raised their target price on Deere & Company from $430.00 to $450.00 in a report on Wednesday, May 15th. Finally, Citigroup began coverage on Deere & Company in a report on Wednesday, June 26th. They set a “neutral” rating and a $395.00 target price on the stock. Eleven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $427.66.

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.