Royal Harbor Partners LLC lowered its stake in shares of Deere & Company (NYSE:DE – Free Report) by 18.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,533 shares of the industrial products company’s stock after selling 565 shares during the quarter. Royal Harbor Partners LLC’s holdings in Deere & Company were worth $1,046,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. RB Capital Management LLC increased its position in Deere & Company by 5.2% during the 1st quarter. RB Capital Management LLC now owns 1,637 shares of the industrial products company’s stock worth $680,000 after purchasing an additional 81 shares in the last quarter. Bornite Capital Management LP acquired a new stake in Deere & Company during the 1st quarter worth approximately $14,541,000. Retirement Income Solutions Inc acquired a new stake in Deere & Company during the 1st quarter worth approximately $229,000. Sequoia Financial Advisors LLC increased its position in Deere & Company by 27.1% during the 1st quarter. Sequoia Financial Advisors LLC now owns 2,442 shares of the industrial products company’s stock worth $1,014,000 after purchasing an additional 521 shares in the last quarter. Finally, Baird Financial Group Inc. boosted its holdings in Deere & Company by 32.4% in the 1st quarter. Baird Financial Group Inc. now owns 114,322 shares of the industrial products company’s stock worth $47,496,000 after acquiring an additional 27,985 shares during the period. Institutional investors and hedge funds own 71.33% of the company’s stock.
Deere & Company Stock Performance
DE traded up $1.08 on Wednesday, hitting $407.56. The company had a trading volume of 521,098 shares, compared to its average volume of 1,664,394. The company’s fifty day moving average price is $381.81 and its 200 day moving average price is $401.22. Deere & Company has a 1-year low of $283.81 and a 1-year high of $448.40. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.96 and a quick ratio of 1.70. The stock has a market cap of $119.49 billion, a price-to-earnings ratio of 13.56, a price-to-earnings-growth ratio of 0.99 and a beta of 1.06.
Deere & Company (NYSE:DE – Free Report) last issued its quarterly earnings results on Friday, May 19th. The industrial products company reported $9.65 EPS for the quarter, topping analysts’ consensus estimates of $8.57 by $1.08. Deere & Company had a return on equity of 43.11% and a net margin of 15.00%. The company had revenue of $16.08 billion during the quarter, compared to analyst estimates of $14.87 billion. During the same period in the previous year, the company earned $6.81 earnings per share. The company’s quarterly revenue was up 33.6% compared to the same quarter last year. Equities analysts predict that Deere & Company will post 31.85 earnings per share for the current fiscal year.
Deere & Company Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 8th. Stockholders of record on Friday, June 30th will be given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date is Thursday, June 29th. Deere & Company’s dividend payout ratio is presently 16.78%.
Insider Activity
In other news, CEO John C. May II sold 52,967 shares of the business’s stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $416.02, for a total transaction of $22,035,331.34. Following the sale, the chief executive officer now directly owns 109,126 shares in the company, valued at $45,398,598.52. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Deere & Company news, CEO John C. May II sold 52,967 shares of the company’s stock in a transaction on Thursday, June 22nd. The stock was sold at an average price of $416.02, for a total value of $22,035,331.34. Following the sale, the chief executive officer now directly owns 109,126 shares in the company, valued at $45,398,598.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Tami A. Erwin purchased 675 shares of the stock in a transaction on Tuesday, June 6th. The stock was bought at an average price of $371.05 per share, for a total transaction of $250,458.75. Following the completion of the transaction, the director now directly owns 950 shares of the company’s stock, valued at $352,497.50. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 88,010 shares of company stock worth $35,230,351. Company insiders own 0.26% of the company’s stock.
Analysts Set New Price Targets
A number of analysts have recently issued reports on DE shares. StockNews.com lowered shares of Deere & Company from a “buy” rating to a “hold” rating in a research note on Friday, June 16th. BMO Capital Markets dropped their price objective on shares of Deere & Company from $450.00 to $425.00 in a research note on Monday, June 5th. Sanford C. Bernstein decreased their price target on shares of Deere & Company from $398.00 to $367.00 in a research report on Monday, May 15th. Citigroup decreased their price target on shares of Deere & Company from $505.00 to $460.00 in a research report on Tuesday, May 23rd. Finally, Robert W. Baird decreased their price target on shares of Deere & Company from $512.00 to $445.00 in a research report on Monday, May 22nd. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $446.64.
Deere & Company Profile
Deere & Company manufactures and distributes 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 mid-size tractors, combines, cotton pickers and strippers, sugarcane harvesters, harvesting front-end equipment, sugarcane loaders, 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.