Deere & Company $DE Shares Purchased by Osprey Private Wealth LLC

Osprey Private Wealth LLC boosted its position in Deere & Company (NYSE:DE) by 51.3% in the 1st quarter, Holdings Channel reports. The firm owned 3,706 shares of the industrial products company’s stock after acquiring an additional 1,256 shares during the quarter. Osprey Private Wealth LLC’s holdings in Deere & Company were worth $2,088,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Anchyra Partners LLC grew its holdings in shares of Deere & Company by 0.5% during the first quarter. Anchyra Partners LLC now owns 3,191 shares of the industrial products company’s stock worth $1,797,000 after buying an additional 17 shares in the last quarter. William B. Walkup & Associates Inc. lifted 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 buying an additional 17 shares in the last quarter. Cerro Pacific Wealth Advisors LLC boosted its position in Deere & Company by 0.6% during the fourth quarter. Cerro Pacific Wealth Advisors LLC now owns 3,179 shares of the industrial products company’s stock worth $1,480,000 after acquiring an additional 19 shares during the last quarter. Hazlett Burt & Watson Inc. boosted its position in Deere & Company by 2.4% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 816 shares of the industrial products company’s stock worth $379,000 after acquiring an additional 19 shares during the last quarter. Finally, Root Financial Partners LLC grew its stake in Deere & Company by 2.2% during the 4th quarter. Root Financial Partners LLC now owns 880 shares of the industrial products company’s stock valued at $410,000 after acquiring an additional 19 shares in the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on DE. 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 upped 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. Royal Bank Of Canada reiterated an “outperform” rating and set a $752.00 price objective on shares of Deere & Company in a research report on Monday, June 1st. DA Davidson lowered their price objective on Deere & Company from $775.00 to $685.00 and set a “buy” rating on the stock in a research note on Friday, May 22nd. Finally, Weiss Ratings upgraded Deere & Company from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, May 21st. Fourteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat.com, Deere & Company has a consensus rating of “Moderate Buy” and an average price target of $642.23.

Deere & Company Trading Down 0.9%

Deere & Company stock traded down $5.54 during trading on Friday, hitting $587.36. The company had a trading volume of 782,098 shares, compared to its average volume of 1,174,307. The stock has a market cap of $158.55 billion, a price-to-earnings ratio of 33.28, a price-to-earnings-growth ratio of 2.19 and a beta of 0.89. 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 1-year low of $433.00 and a 1-year high of $674.19. The company’s 50 day simple moving average is $581.74 and its 200-day simple moving average is $566.99.

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 the consensus estimate of $5.70 by $0.85. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.The business had revenue of $13.37 billion during the quarter, compared to analyst estimates of $11.55 billion. During the same period last year, the business posted $6.64 earnings per share. The company’s quarterly revenue was up 5.4% on a year-over-year basis. As a group, analysts expect that Deere & Company will post 18.13 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Tuesday, June 30th will be given a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Tuesday, June 30th. Deere & Company’s payout ratio is currently 36.71%.

Deere & Company News Roundup

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 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.