Deere & Company $DE Shares Sold by Lifeworks Advisors LLC

Lifeworks Advisors LLC reduced its stake in shares of Deere & Company (NYSE:DE) by 11.8% during the 1st quarter, HoldingsChannel reports. The fund owned 10,668 shares of the industrial products company’s stock after selling 1,430 shares during the period. Lifeworks Advisors LLC’s holdings in Deere & Company were worth $6,009,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. LGT Fund Management Co Ltd. grew its holdings in Deere & Company by 25.4% in the first quarter. LGT Fund Management Co Ltd. now owns 1,630 shares of the industrial products company’s stock valued at $918,000 after purchasing an additional 330 shares during the period. Global Assets Advisory LLC acquired a new position in shares of Deere & Company in the 1st quarter valued at $60,000. Diversify Wealth Management LLC acquired a new position in shares of Deere & Company in the 1st quarter valued at $1,582,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of Deere & Company by 0.4% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 58,725 shares of the industrial products company’s stock valued at $33,080,000 after buying an additional 247 shares during the period. Finally, Fifth Third Bancorp grew its stake in shares of Deere & Company by 17.0% during the 1st quarter. Fifth Third Bancorp now owns 267,308 shares of the industrial products company’s stock valued at $150,575,000 after buying an additional 38,910 shares during the period. 68.58% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently weighed in on DE. Jefferies Financial Group raised Deere & Company from an “underperform” rating to a “hold” rating and set a $550.00 target price on the stock in a research report on Wednesday, April 8th. Truist Financial boosted their price target on Deere & Company from $759.00 to $812.00 and gave the company a “buy” rating in a research report on Thursday, July 2nd. Wolfe Research upped their price target on Deere & Company from $550.00 to $660.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 31st. Citigroup reduced their price objective on Deere & Company from $625.00 to $595.00 and set a “neutral” rating on the stock in a research note on Friday, May 22nd. Finally, Raymond James Financial decreased their target price on Deere & Company from $765.00 to $700.00 and set an “outperform” rating for the company in a report on Friday, May 22nd. Fourteen analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $642.23.

Key Headlines Impacting Deere & Company

Here are the key news stories impacting Deere & Company this week:

• Positive Sentiment: D.A. Davidson’s new coverage on AGCO highlighted that weak farm conditions can still support equipment makers like Deere, reinforcing the view that replacement demand and pricing power may hold up better than expected for agricultural OEMs. Farming Is Terrible Right Now. That’s Good for Deere and AGCO Stocks.
• Positive Sentiment: Jim Cramer was upbeat on Deere, calling the stock “incredible” and suggesting it still has room to go higher, which may help sentiment around the shares. Jim Cramer on Deere & Company: “The Stock Is Incredible, and It’s Not Done Going Higher”
• Neutral Sentiment: An analyst report on Deere was published, but no clear thesis or rating details were provided in the feed, so it is likely a limited near-term catalyst. Analyst Report: Deere & Co
• Negative Sentiment: Deere settled a right-to-repair dispute with the FTC, requiring it to provide farmers and independent repair providers the same repair resources as authorized dealers for 10 years. Investors may see this as a hit to Deere’s control over service revenue and after-sales economics. Deere settles right to repair dispute with FTC

Deere & Company Stock Performance

NYSE:DE opened at $587.36 on Monday. The firm’s fifty day simple moving average is $581.74 and its 200 day simple moving average is $567.68. The company has a current ratio of 2.18, a quick ratio of 1.95 and a debt-to-equity ratio of 1.54. Deere & Company has a twelve month low of $433.00 and a twelve month high of $674.19. The firm has a market capitalization of $158.55 billion, a price-to-earnings ratio of 33.28, a PEG ratio of 2.17 and a beta of 0.89.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, May 21st. The industrial products company reported $6.55 EPS for the quarter, beating the consensus estimate of $5.70 by $0.85. The company had revenue of $13.37 billion for the quarter, compared to analyst estimates of $11.55 billion. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.The firm’s revenue was up 5.4% compared to the same quarter last year. During the same period last year, the company posted $6.64 earnings per share. As a group, equities research analysts expect that Deere & Company will post 18.13 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 Monday, August 10th. Investors of record on Tuesday, June 30th will be issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Tuesday, June 30th. Deere & Company’s dividend payout ratio (DPR) is presently 36.71%.

Deere & Company Profile

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.