Kings Path Partners LLC Buys New Holdings in Deere & Company (NYSE:DE)

Kings Path Partners LLC acquired a new position in shares of Deere & Company (NYSE:DE) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 143 shares of the industrial products company’s stock, valued at approximately $53,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. International Assets Investment Management LLC grew its position in shares of Deere & Company by 15.9% during the 4th quarter. International Assets Investment Management LLC now owns 2,102 shares of the industrial products company’s stock worth $841,000 after buying an additional 288 shares during the period. Gilbert & Cook Inc. grew its holdings in Deere & Company by 5.4% during the fourth quarter. Gilbert & Cook Inc. now owns 1,978 shares of the industrial products company’s stock valued at $791,000 after purchasing an additional 102 shares during the period. Mather Group LLC. increased its stake in Deere & Company by 8.7% in the fourth quarter. Mather Group LLC. now owns 2,385 shares of the industrial products company’s stock valued at $954,000 after purchasing an additional 191 shares in the last quarter. Kestra Private Wealth Services LLC raised its holdings in Deere & Company by 2.0% in the fourth quarter. Kestra Private Wealth Services LLC now owns 10,169 shares of the industrial products company’s stock worth $4,066,000 after purchasing an additional 202 shares during the period. Finally, Mission Wealth Management LP boosted its position in shares of Deere & Company by 63.2% during the fourth quarter. Mission Wealth Management LP now owns 3,158 shares of the industrial products company’s stock worth $1,263,000 after purchasing an additional 1,223 shares in the last quarter. 68.58% of the stock is owned by institutional investors.

Insider Buying and Selling at Deere & Company

In related news, insider Cory J. Reed sold 13,370 shares of the stock in a transaction that occurred 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 sale, the insider now owns 41,642 shares of the company’s stock, valued at $15,725,268.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on DE. Daiwa Capital Markets upped their price objective 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. Deutsche Bank Aktiengesellschaft dropped their price target on Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a research report on Thursday, August 8th. Morgan Stanley dropped their target price on shares of Deere & Company from $450.00 to $425.00 and set an “overweight” rating on the stock in a report on Monday, August 26th. Truist Financial reaffirmed a “buy” rating and set a $443.00 price target (up from $439.00) on shares of Deere & Company in a research note on Friday, August 16th. Finally, Hsbc Global Res lowered shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 19th. Fourteen research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $414.11.

Deere & Company Trading Up 1.0 %

Shares of NYSE:DE opened at $385.72 on Friday. The stock has a market cap of $106.29 billion, a PE ratio of 11.61, a P/E/G ratio of 1.59 and a beta of 0.93. The company has a quick ratio of 1.80, a current ratio of 2.01 and a debt-to-equity ratio of 1.81. Deere & Company has a 12-month low of $340.20 and a 12-month high of $423.35. The business has a 50 day moving average of $367.73 and a 200-day moving average of $379.83.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, beating analysts’ consensus estimates of $5.63 by $0.66. The firm had revenue of $11.39 billion for the quarter, compared to analyst estimates of $10.94 billion. Deere & Company had a return on equity of 42.26% and a net margin of 16.15%. The company’s revenue for the quarter was down 20.3% on a year-over-year basis. During the same period in the prior year, the firm posted $10.20 EPS. As a group, equities research analysts forecast that Deere & Company will post 25.41 earnings per share for the current year.

Deere & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Monday, September 30th will be paid a $1.47 dividend. This represents a $5.88 annualized dividend and a yield of 1.52%. The ex-dividend date of this dividend is Monday, September 30th. 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.