Norden Group LLC Takes $1.07 Million Position in Deere & Company (NYSE:DE)

Norden Group LLC acquired a new position in shares of Deere & Company (NYSE:DE) in the first quarter, HoldingsChannel.com reports. The institutional investor acquired 2,604 shares of the industrial products company’s stock, valued at approximately $1,070,000.

Other large investors have also recently bought and sold shares of the company. Morgan Stanley increased its stake in Deere & Company by 1.3% in 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 increased its position in 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 worth $1,541,967,000 after purchasing an additional 705,771 shares during the last quarter. Norges Bank acquired a new stake in shares of Deere & Company during the 4th quarter worth $1,248,036,000. Dimensional Fund Advisors LP raised its position in shares of Deere & Company by 11.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,595,945 shares of the industrial products company’s stock worth $638,167,000 after buying an additional 160,369 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in 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 acquiring an additional 31,074 shares during the period. Institutional investors and hedge funds own 68.58% of the company’s stock.

Insider Transactions 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 value of $5,048,913.10. Following the completion of the transaction, the insider now directly owns 41,642 shares in the company, valued at $15,725,268.46. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.26% of the company’s stock.

Deere & Company Price Performance

Shares of NYSE:DE traded down $2.78 during trading on Friday, reaching $360.01. The company had a trading volume of 853,615 shares, compared to its average volume of 1,504,934. The firm’s fifty day moving average is $382.63 and its 200 day moving average is $386.61. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.80 and a current ratio of 2.01. The firm has a market capitalization of $99.21 billion, a PE ratio of 10.77, a price-to-earnings-growth ratio of 1.46 and a beta of 0.93. Deere & Company has a twelve month low of $353.15 and a twelve month high of $450.00.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, May 16th. The industrial products company reported $8.53 EPS for the quarter, topping analysts’ consensus estimates of $7.86 by $0.67. Deere & Company had a return on equity of 42.26% and a net margin of 16.15%. The company had revenue of $13.61 billion for the quarter, compared to the consensus estimate of $13.29 billion. During the same quarter in the previous year, the business earned $9.65 EPS. The company’s quarterly revenue was down 15.4% compared to the same quarter last year. On average, equities analysts forecast that Deere & Company will post 25.59 EPS for the current year.

Deere & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 8th. Shareholders of record on Friday, June 28th will be given a $1.47 dividend. The ex-dividend date is Friday, June 28th. This represents a $5.88 annualized dividend and a yield of 1.63%. Deere & Company’s dividend payout ratio (DPR) is 17.70%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on DE. Oppenheimer reaffirmed an “outperform” rating and set a $456.00 price target on shares of Deere & Company in a research report on Thursday, May 16th. Citigroup assumed coverage on Deere & Company in a report on Wednesday, June 26th. They set a “neutral” rating and a $395.00 target price on the stock. Daiwa Capital Markets upped their price target on Deere & Company from $400.00 to $420.00 and gave the stock an “overweight” rating in a report on Wednesday, May 15th. Truist Financial decreased their target price on shares of Deere & Company from $460.00 to $439.00 and set a “buy” rating for the company in a research note on Tuesday. Finally, Stifel Nicolaus raised their target price on Deere & Company from $425.00 to $450.00 and gave the company a “buy” rating in a research note on Friday, May 17th. Eleven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $427.66.

About Deere & Company

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.