Deere & Company $DE Shares Sold by Edgestream Partners L.P.

Edgestream Partners L.P. lessened its stake in shares of Deere & Company (NYSE:DE) by 57.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,029 shares of the industrial products company’s stock after selling 1,414 shares during the period. Edgestream Partners L.P.’s holdings in Deere & Company were worth $580,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of DE. Anchyra Partners LLC lifted its position in shares of Deere & Company by 0.5% in the first quarter. Anchyra Partners LLC now owns 3,191 shares of the industrial products company’s stock valued at $1,797,000 after acquiring an additional 17 shares in the last quarter. William B. Walkup & Associates Inc. boosted its stake in shares of Deere & Company by 0.6% in the first quarter. William B. Walkup & Associates Inc. now owns 2,908 shares of the industrial products company’s stock worth $1,638,000 after acquiring an additional 17 shares during the last quarter. Advisortrust Partners LLC increased its position in shares of Deere & Company by 2.0% during the first quarter. Advisortrust Partners LLC now owns 914 shares of the industrial products company’s stock worth $515,000 after purchasing an additional 18 shares in the last quarter. Cerro Pacific Wealth Advisors LLC raised its stake in Deere & Company by 0.6% in the 4th quarter. Cerro Pacific Wealth Advisors LLC now owns 3,179 shares of the industrial products company’s stock valued at $1,480,000 after purchasing an additional 19 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. raised its stake in Deere & Company by 2.4% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 816 shares of the industrial products company’s stock valued at $379,000 after purchasing an additional 19 shares during the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on DE. Wall Street Zen raised shares of Deere & Company from a “sell” rating to a “hold” rating in a research note on Sunday, July 5th. JPMorgan Chase & Co. increased their price objective on shares of Deere & Company from $560.00 to $590.00 and gave the company a “neutral” rating in a report on Thursday, June 4th. Truist Financial boosted their target price on Deere & Company from $759.00 to $812.00 and gave the stock a “buy” rating in a report on Thursday, July 2nd. Jefferies Financial Group upgraded Deere & Company from an “underperform” rating to a “hold” rating and set a $550.00 price target for the company in a research report on Wednesday, April 8th. Finally, DA Davidson reiterated a “buy” rating and set a $685.00 price objective on shares of Deere & Company in a research report on Friday, July 17th. Fourteen analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, Deere & Company has a consensus rating of “Moderate Buy” and a consensus target price of $642.98.

Deere & Company Stock Up 2.1%

Deere & Company stock opened at $617.64 on Wednesday. The company has a market capitalization of $166.73 billion, a PE ratio of 34.99, a price-to-earnings-growth ratio of 2.56 and a beta of 0.90. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.95 and a current ratio of 2.18. Deere & Company has a fifty-two week low of $433.00 and a fifty-two week high of $674.19. The firm has a 50 day moving average price of $594.84 and a 200 day moving average price of $582.79.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, May 21st. The industrial products company reported $6.55 EPS for the quarter, topping analysts’ consensus estimates of $5.70 by $0.85. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.The company had revenue of $13.37 billion for the quarter, compared to analysts’ expectations of $11.55 billion. During the same period in the prior year, the firm earned $6.64 earnings per share. The firm’s revenue was up 5.4% compared to the same quarter last year. Research analysts expect that Deere & Company will post 18.26 earnings per share for the current year.

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Investors of record on Tuesday, June 30th will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Tuesday, June 30th. Deere & Company’s payout ratio is currently 36.71%.

Deere & Company 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.