River Wealth Advisors LLC Purchases 799 Shares of Deere & Company $DE

River Wealth Advisors LLC lifted its position in shares of Deere & Company (NYSE:DE) by 6.6% during the third quarter, Holdings Channel.com reports. The firm owned 12,923 shares of the industrial products company’s stock after purchasing an additional 799 shares during the period. River Wealth Advisors LLC’s holdings in Deere & Company were worth $5,909,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. The Manufacturers Life Insurance Company lifted its stake in Deere & Company by 30.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 364,103 shares of the industrial products company’s stock valued at $185,143,000 after acquiring an additional 85,351 shares in the last quarter. Csenge Advisory Group raised its holdings in shares of Deere & Company by 84.9% in the third quarter. Csenge Advisory Group now owns 7,440 shares of the industrial products company’s stock valued at $3,402,000 after purchasing an additional 3,416 shares during the last quarter. Mesirow Financial Investment Management Inc. raised its holdings in shares of Deere & Company by 1.0% in the second quarter. Mesirow Financial Investment Management Inc. now owns 4,678 shares of the industrial products company’s stock valued at $2,379,000 after purchasing an additional 45 shares during the last quarter. MASTERINVEST Kapitalanlage GmbH bought a new position in shares of Deere & Company during the second quarter valued at about $3,615,000. Finally, WINTON GROUP Ltd purchased a new position in Deere & Company during the second quarter worth about $4,550,000. 68.58% of the stock is currently owned by institutional investors.

Insider Transactions at Deere & Company

In related news, CEO John C. May II sold 41,472 shares of the company’s stock in a transaction that occurred on Thursday, January 8th. The shares were sold at an average price of $501.49, for a total transaction of $20,797,793.28. Following the sale, the chief executive officer directly owned 117,970 shares in the company, valued at approximately $59,160,775.30. This represents a 26.01% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Cory J. Reed sold 12,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 14th. The stock was sold at an average price of $510.00, for a total transaction of $6,120,000.00. Following the completion of the transaction, the insider directly owned 20,792 shares of the company’s stock, valued at approximately $10,603,920. This trade represents a 36.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.29% of the stock is owned by company insiders.

Deere & Company Stock Performance

NYSE:DE opened at $629.32 on Friday. The company has a market capitalization of $170.59 billion, a P/E ratio of 35.47, a P/E/G ratio of 2.22 and a beta of 1.02. The business has a fifty day simple moving average of $537.84 and a two-hundred day simple moving average of $495.51. The company has a debt-to-equity ratio of 1.59, a current ratio of 2.21 and a quick ratio of 1.96. Deere & Company has a 1 year low of $404.42 and a 1 year high of $674.19.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, February 19th. The industrial products company reported $2.42 EPS for the quarter, beating analysts’ consensus estimates of $1.90 by $0.52. Deere & Company had a return on equity of 18.93% and a net margin of 10.29%.The firm had revenue of $9.61 billion for the quarter, compared to analysts’ expectations of $7.50 billion. During the same quarter in the prior year, the firm earned $3.19 EPS. The business’s revenue for the quarter was up 17.5% compared to the same quarter last year. On average, analysts expect that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 8th. Shareholders of record on Tuesday, March 31st will be given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Tuesday, March 31st. Deere & Company’s dividend payout ratio (DPR) is currently 36.53%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on DE shares. Wolfe Research increased their price objective on shares of Deere & Company from $520.00 to $550.00 and gave the company an “outperform” rating in a research note on Friday, January 2nd. Truist Financial upped their target price on Deere & Company from $612.00 to $793.00 and gave the company a “buy” rating in a report on Friday, February 20th. Sanford C. Bernstein lifted their price target on Deere & Company from $521.00 to $615.00 and gave the stock a “market perform” rating in a report on Friday, February 20th. Jefferies Financial Group cut Deere & Company from a “hold” rating to an “underperform” rating and boosted their price objective for the stock from $475.00 to $550.00 in a research report on Monday, February 23rd. Finally, Zacks Research raised Deere & Company from a “strong sell” rating to a “hold” rating in a research report on Wednesday, December 3rd. Fifteen research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $637.70.

About Deere & Company

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.