Cohen Capital Management Inc. Acquires 72 Shares of Deere & Company (NYSE:DE)

Cohen Capital Management Inc. increased its stake in Deere & Company (NYSE:DE) by 0.2% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,314 shares of the industrial products company’s stock after acquiring an additional 72 shares during the quarter. Deere & Company accounts for approximately 2.4% of Cohen Capital Management Inc.’s portfolio, making the stock its 9th largest position. Cohen Capital Management Inc.’s holdings in Deere & Company were worth $13,683,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Pinnacle Associates Ltd. lifted its holdings in shares of Deere & Company by 21.3% in the 4th quarter. Pinnacle Associates Ltd. now owns 5,355 shares of the industrial products company’s stock worth $2,141,000 after purchasing an additional 939 shares in the last quarter. Harbor Investment Advisory LLC raised its holdings in Deere & Company by 27.4% during the first quarter. Harbor Investment Advisory LLC now owns 1,730 shares of the industrial products company’s stock worth $710,000 after buying an additional 372 shares during the last quarter. Summit Asset Management LLC raised its holdings in Deere & Company by 24.1% during the fourth quarter. Summit Asset Management LLC now owns 1,030 shares of the industrial products company’s stock worth $412,000 after buying an additional 200 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Deere & Company by 2.0% in the fourth 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 in the last quarter. Finally, Brevan Howard Capital Management LP grew its holdings in shares of Deere & Company by 857.9% during the fourth quarter. Brevan Howard Capital Management LP now owns 7,654 shares of the industrial products company’s stock valued at $3,061,000 after buying an additional 6,855 shares during the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Citigroup assumed coverage on shares of Deere & Company in a research report on Wednesday, June 26th. They issued a “neutral” rating and a $395.00 price target on the stock. JPMorgan Chase & Co. dropped their target price on Deere & Company from $385.00 to $375.00 and set a “neutral” rating on the stock in a report on Thursday. Raymond James assumed coverage on Deere & Company in a research report on Friday, June 28th. They set an “outperform” rating and a $420.00 target price on the stock. Truist Financial lowered their price target on Deere & Company from $460.00 to $439.00 and set a “buy” rating for the company in a research report on Tuesday, July 2nd. Finally, TD Cowen lifted their price objective on shares of Deere & Company from $383.00 to $390.00 and gave the stock a “hold” rating in a report on Friday, May 17th. Eleven analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $427.13.

Insider Activity

In other 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 value 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 Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.26% of the company’s stock.

Deere & Company Stock Up 2.9 %

Shares of NYSE:DE traded up $10.08 during trading hours on Thursday, hitting $361.61. The company’s stock had a trading volume of 1,765,279 shares, compared to its average volume of 1,515,736. The firm’s fifty day moving average price is $378.79 and its 200 day moving average price is $385.38. Deere & Company has a 52 week low of $345.93 and a 52 week high of $450.00. The company has a market capitalization of $99.65 billion, a price-to-earnings ratio of 10.89, a P/E/G ratio of 1.43 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.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, May 16th. The industrial products company reported $8.53 earnings per share for the quarter, topping the consensus estimate of $7.86 by $0.67. The firm had revenue of $13.61 billion for 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 for the quarter was down 15.4% on a year-over-year basis. During the same period in the previous year, the business earned $9.65 EPS. As a group, research analysts expect that Deere & Company will post 25.56 EPS for the current year.

Deere & Company Dividend Announcement

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 given a dividend of $1.47 per share. The ex-dividend date is Friday, June 28th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.63%. Deere & Company’s dividend payout ratio (DPR) is 17.70%.

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.