Lincoln Capital LLC Cuts Position in Deere & Company (NYSE:DE)

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

A number of other large investors have also modified their holdings of DE. Pinnacle Associates Ltd. grew its stake in Deere & Company by 21.3% during the 4th quarter. Pinnacle Associates Ltd. now owns 5,355 shares of the industrial products company’s stock valued at $2,141,000 after purchasing an additional 939 shares during the last quarter. Harbor Investment Advisory LLC boosted its holdings in Deere & Company by 27.4% in the first quarter. Harbor Investment Advisory LLC now owns 1,730 shares of the industrial products company’s stock valued at $710,000 after purchasing an additional 372 shares during the last quarter. Penserra Capital Management LLC lifted its holdings in shares of Deere & Company by 2.4% in the 3rd quarter. Penserra Capital Management LLC now owns 236,696 shares of the industrial products company’s stock valued at $89,322,000 after buying an additional 5,485 shares during the period. Summit Asset Management LLC grew 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 acquiring an additional 200 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in Deere & Company by 2.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,570,773 shares of the industrial products company’s stock worth $628,105,000 after purchasing an additional 31,074 shares in the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on DE shares. Daiwa Capital Markets raised their price target on shares of Deere & Company from $400.00 to $420.00 and gave the company an “overweight” rating in a research report on Wednesday, May 15th. TD Cowen upped their target price on Deere & Company from $383.00 to $390.00 and gave the stock a “hold” rating in a research note 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 on the stock in a research report on Friday, May 17th. Morgan Stanley upped their price objective on shares of Deere & Company from $430.00 to $450.00 in a research report on Wednesday, May 15th. Finally, Truist Financial began coverage on shares of Deere & Company in a research note on Thursday, March 14th. They set a “buy” rating and a $494.00 target price for the company. Eleven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $430.55.

Deere & Company Trading Up 1.0 %

Deere & Company stock traded up $3.58 during trading on Friday, hitting $378.90. The company had a trading volume of 360,840 shares, compared to its average volume of 1,467,092. Deere & Company has a 1-year low of $353.15 and a 1-year high of $450.00. The company’s 50 day simple moving average is $386.34 and its 200-day simple moving average is $387.01. The stock has a market cap of $104.41 billion, a price-to-earnings ratio of 11.43, a price-to-earnings-growth ratio of 1.51 and a beta of 0.98. The company has a current ratio of 2.01, a quick ratio of 1.80 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 EPS for the quarter, beating analysts’ consensus estimates of $7.86 by $0.67. The company had revenue of $13.61 billion during the quarter, compared to analysts’ expectations of $13.29 billion. Deere & Company had a return on equity of 42.26% and a net margin of 16.15%. Deere & Company’s revenue for the quarter was down 15.4% on a year-over-year basis. During the same period last year, the business posted $9.65 EPS. As a group, analysts expect that Deere & Company will post 25.61 EPS for the current fiscal year.

Deere & Company Dividend Announcement

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 paid a $1.47 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $5.88 annualized dividend and a dividend yield of 1.55%. Deere & Company’s dividend payout ratio (DPR) is 17.70%.

Insider Activity

In other news, insider Cory J. Reed sold 13,370 shares of Deere & Company stock in a transaction dated 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 transaction, the insider now owns 41,642 shares in the company, valued at approximately $15,725,268.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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.