Retirement Guys Formula LLC Boosts Stock Holdings in Deere & Company (NYSE:DE)

Retirement Guys Formula LLC grew its position in shares of Deere & Company (NYSE:DE) by 28.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,271 shares of the industrial products company’s stock after purchasing an additional 725 shares during the quarter. Retirement Guys Formula LLC’s holdings in Deere & Company were worth $1,343,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in DE. Pinnacle Associates Ltd. increased its holdings in 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 acquiring an additional 939 shares in the last quarter. Harbor Investment Advisory LLC increased its holdings in Deere & Company by 27.4% in the 1st quarter. Harbor Investment Advisory LLC now owns 1,730 shares of the industrial products company’s stock worth $710,000 after acquiring an additional 372 shares in the last quarter. Penserra Capital Management LLC increased its holdings in 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 worth $89,322,000 after acquiring an additional 5,485 shares in the last quarter. Summit Asset Management LLC increased its holdings in Deere & Company by 24.1% in the 4th 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings 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 acquiring an additional 31,074 shares in the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Trading Down 0.6 %

NYSE DE traded down $2.16 during trading hours on Thursday, reaching $362.79. The company had a trading volume of 668,937 shares, compared to its average volume of 1,634,612. The stock has a 50-day moving average of $383.26 and a 200 day moving average of $386.78. Deere & Company has a 1-year low of $353.15 and a 1-year high of $450.00. The company has a current ratio of 2.01, a quick ratio of 1.80 and a debt-to-equity ratio of 1.81. The stock has a market capitalization of $99.97 billion, a P/E ratio of 10.92, a price-to-earnings-growth ratio of 1.47 and a beta of 0.93.

Deere & Company (NYSE:DE) last posted 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. 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 analysts’ expectations of $13.29 billion. During the same quarter in the prior year, the company posted $9.65 earnings per share. Deere & Company’s revenue for the quarter was down 15.4% compared to the same quarter last year. As a group, research analysts anticipate that Deere & Company will post 25.59 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 8th. Shareholders 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 1.62%. Deere & Company’s payout ratio is currently 17.70%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on DE shares. DA Davidson cut their price target on shares of Deere & Company from $483.00 to $465.00 and set a “buy” rating for the company in a report on Monday, May 20th. Morgan Stanley boosted their price target on shares of Deere & Company from $430.00 to $450.00 in a report on Wednesday, May 15th. TD Cowen lifted their target price on shares of 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. lowered their target price 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. Finally, Stifel Nicolaus lifted their target price 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. Eleven analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $427.66.

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 value of $5,048,913.10. Following the transaction, the insider now owns 41,642 shares of the company’s stock, valued at $15,725,268.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.26% of the stock is currently owned by corporate insiders.

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.