MPS Loria Financial Planners LLC Decreases Position in Deere & Company (NYSE:DE)

MPS Loria Financial Planners LLC cut its position in Deere & Company (NYSE:DE) by 63.5% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 911 shares of the industrial products company’s stock after selling 1,584 shares during the period. MPS Loria Financial Planners LLC’s holdings in Deere & Company were worth $374,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Morgan Stanley raised its holdings in shares of Deere & Company by 1.3% during the third quarter. Morgan Stanley now owns 5,089,159 shares of the industrial products company’s stock valued at $1,920,548,000 after purchasing an additional 65,006 shares during the last quarter. Parnassus Investments LLC raised its holdings in shares of Deere & Company by 22.4% during the fourth quarter. Parnassus Investments LLC now owns 3,856,171 shares of the industrial products company’s stock valued at $1,541,967,000 after purchasing an additional 705,771 shares during the last quarter. Norges Bank purchased a new position in shares of Deere & Company during the fourth quarter valued at approximately $1,248,036,000. Dimensional Fund Advisors LP raised its holdings in shares of Deere & Company by 11.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,595,945 shares of the industrial products company’s stock valued at $638,167,000 after purchasing an additional 160,369 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Deere & Company by 2.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,570,773 shares of the industrial products company’s stock valued at $628,105,000 after purchasing an additional 31,074 shares during the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Deere & Company

In other Deere & Company news, insider Cory J. Reed sold 13,370 shares of the firm’s 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 transaction, the insider now owns 41,642 shares of the company’s stock, valued at approximately $15,725,268.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

DE has been the subject of several recent research reports. Truist Financial initiated coverage on shares of Deere & Company in a research report on Thursday, March 14th. They set a “buy” rating and a $494.00 target price for the company. Oppenheimer restated an “outperform” rating and set a $456.00 target price on shares of Deere & Company in a research report on Thursday, May 16th. Morgan Stanley boosted their target price on shares of Deere & Company from $430.00 to $450.00 in a research report on Wednesday, May 15th. Stifel Nicolaus boosted their target price on shares of Deere & Company from $425.00 to $450.00 and gave the company a “buy” rating in a research report on Friday, May 17th. Finally, Citigroup initiated coverage on shares of Deere & Company in a research report on Wednesday. They set a “neutral” rating and a $395.00 target price for the company. Eleven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, Deere & Company presently has an average rating of “Hold” and an average target price of $430.55.

Deere & Company Trading Down 0.4 %

DE stock traded down $1.68 during trading on Friday, hitting $373.63. The company had a trading volume of 6,689,701 shares, compared to its average volume of 1,409,983. The firm has a market capitalization of $102.96 billion, a P/E ratio of 11.25, a PEG ratio of 1.50 and a beta of 0.98. Deere & Company has a 52-week low of $353.15 and a 52-week high of $450.00. The company has a 50 day simple moving average of $385.32 and a 200-day simple moving average of $387.21. 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 (NYSE:DE) last posted its quarterly earnings results on Thursday, May 16th. The industrial products company reported $8.53 EPS for the quarter, topping the consensus estimate of $7.86 by $0.67. The company had revenue of $13.61 billion for the quarter, compared to the consensus estimate of $13.29 billion. Deere & Company had a net margin of 16.15% and a return on equity of 42.26%. The firm’s revenue was down 15.4% compared to the same quarter last year. During the same quarter last year, the firm posted $9.65 EPS. As a group, research analysts forecast that Deere & Company will post 25.61 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

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 1.57%. The ex-dividend date of this dividend is Friday, June 28th. Deere & Company’s dividend payout ratio (DPR) is 17.70%.

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.