Deere & Company (NYSE:DE) Shares Acquired by Legacy Advisors LLC

Legacy Advisors LLC boosted its position in shares of Deere & Company (NYSE:DE) by 2.3% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 1,916 shares of the industrial products company’s stock after buying an additional 43 shares during the period. Legacy Advisors LLC’s holdings in Deere & Company were worth $716,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. True Wealth Design LLC boosted its position in shares of Deere & Company by 1,180.0% during the 4th quarter. True Wealth Design LLC now owns 64 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 59 shares in the last quarter. Pineridge Advisors LLC grew its position in Deere & Company by 725.0% in the first quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock worth $27,000 after buying an additional 58 shares during the last quarter. Private Wealth Management Group LLC bought a new position in shares of Deere & Company in the fourth quarter valued at $29,000. Livelsberger Financial Advisory bought a new position in shares of Deere & Company in the fourth quarter valued at $30,000. Finally, Spartan Planning & Wealth Management acquired a new stake in shares of Deere & Company during the 4th quarter valued at $33,000. 68.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

DE has been the topic of a number of analyst reports. Daiwa Capital Markets lifted their price target on Deere & Company from $400.00 to $420.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 15th. Stifel Nicolaus raised their price target on shares of Deere & Company from $425.00 to $450.00 and gave the company a “buy” rating in a report on Friday, May 17th. TD Cowen upped their price target on Deere & Company from $383.00 to $390.00 and gave the stock a “hold” rating in a research note on Friday, May 17th. Truist Financial reaffirmed a “buy” rating and set a $443.00 price objective (up from $439.00) on shares of Deere & Company in a report on Friday, August 16th. Finally, DA Davidson decreased 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. 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, the company presently has a consensus rating of “Hold” and a consensus target price of $414.11.

Insider Activity at Deere & Company

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 shares were sold at an average price of $377.63, for a total transaction of $5,048,913.10. Following the transaction, the insider now directly owns 41,642 shares in the company, valued at $15,725,268.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.26% of the stock is currently owned by company insiders.

Deere & Company Price Performance

NYSE:DE traded up $3.92 on Friday, reaching $385.74. The stock had a trading volume of 1,413,160 shares, compared to its average volume of 1,528,736. The company has a quick ratio of 1.80, a current ratio of 2.01 and a debt-to-equity ratio of 1.81. The company has a market capitalization of $106.30 billion, a P/E ratio of 11.61, a price-to-earnings-growth ratio of 1.59 and a beta of 0.93. Deere & Company has a 1-year low of $340.20 and a 1-year high of $423.35. The stock has a fifty day moving average price of $367.94 and a 200-day moving average price of $379.81.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, topping the consensus estimate of $5.63 by $0.66. Deere & Company had a return on equity of 42.26% and a net margin of 16.15%. The business had revenue of $11.39 billion for the quarter, compared to the consensus estimate of $10.94 billion. During the same period in the previous year, the business earned $10.20 EPS. Deere & Company’s revenue was down 20.3% compared to the same quarter last year. Research analysts forecast that Deere & Company will post 25.41 EPS for the current year.

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Monday, September 30th will be paid a $1.47 dividend. The ex-dividend date is Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.52%. Deere & Company’s dividend payout ratio (DPR) is presently 17.70%.

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.