Deere & Company (NYSE:DE) Shares Acquired by DLK Investment Management LLC

DLK Investment Management LLC increased its stake in shares of Deere & Company (NYSE:DE) by 5.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,585 shares of the industrial products company’s stock after acquiring an additional 378 shares during the quarter. DLK Investment Management LLC’s holdings in Deere & Company were worth $3,116,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. True Wealth Design LLC raised its stake in Deere & Company by 1,180.0% during the 4th quarter. True Wealth Design LLC now owns 64 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 59 shares in the last quarter. Rakuten Securities Inc. purchased a new position in Deere & Company during the 4th quarter worth $28,000. Naples Money Management LLC purchased a new position in Deere & Company during the 4th quarter worth $29,000. Private Wealth Management Group LLC purchased a new position in Deere & Company during the 4th quarter worth $29,000. Finally, Bfsg LLC purchased a new position in Deere & Company during the 4th quarter worth $30,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Price Performance

Shares of NYSE DE traded up $0.32 during midday trading on Wednesday, hitting $369.79. The company had a trading volume of 374,421 shares, compared to its average volume of 1,457,609. The company has a quick ratio of 1.80, a current ratio of 2.01 and a debt-to-equity ratio of 1.81. Deere & Company has a twelve month low of $353.15 and a twelve month high of $450.00. The business has a 50-day simple moving average of $386.75 and a two-hundred day simple moving average of $387.08. The firm has a market capitalization of $101.90 billion, a price-to-earnings ratio of 11.09, a price-to-earnings-growth ratio of 1.52 and a beta of 0.98.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, May 16th. The industrial products company reported $8.53 EPS for the quarter, beating the consensus estimate of $7.86 by $0.67. Deere & Company had a net margin of 16.15% and a return on equity of 42.26%. The firm had revenue of $13.61 billion during the quarter, compared to analysts’ expectations of $13.29 billion. During the same quarter last year, the business earned $9.65 earnings per share. The business’s revenue for the quarter was down 15.4% compared to the same quarter last year. Equities research analysts anticipate that Deere & Company will post 25.61 earnings per share for the current year.

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 8th. Shareholders of record on Friday, June 28th will be given a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date is Friday, June 28th. Deere & Company’s payout ratio is currently 17.70%.

Analyst Upgrades and Downgrades

DE has been the topic of several research reports. Citigroup initiated coverage on shares of Deere & Company in a research report on Wednesday. They set a “neutral” rating and a $395.00 price objective on the stock. Daiwa Capital Markets raised their price objective on shares of Deere & Company from $400.00 to $420.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 15th. Stifel Nicolaus raised their price objective on shares of Deere & Company from $425.00 to $450.00 and gave the stock a “buy” rating in a research report on Friday, May 17th. TD Cowen raised their price objective on shares of Deere & Company from $383.00 to $390.00 and gave the stock a “hold” rating in a research report on Friday, May 17th. Finally, Truist Financial assumed coverage on shares of Deere & Company in a report on Thursday, March 14th. They issued a “buy” rating and a $494.00 target price on the stock. Eleven analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $431.14.

Insiders Place Their Bets

In other Deere & Company news, insider Cory J. Reed sold 13,370 shares of Deere & Company stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $377.63, for a total transaction of $5,048,913.10. Following the completion of the transaction, the insider now owns 41,642 shares in the company, valued at $15,725,268.46. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.26% of the stock is currently owned by company insiders.

Deere & Company Profile

Deere & Company engages in the manufacture and distribution of 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 large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, 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.