Resonant Capital Advisors LLC Buys Shares of 540 Deere & Company (NYSE:DE)

Resonant Capital Advisors LLC bought a new stake in Deere & Company (NYSE:DE) during the first quarter, HoldingsChannel reports. The institutional investor bought 540 shares of the industrial products company’s stock, valued at approximately $223,000.

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

Analysts Set New Price Targets

A number of analysts recently commented on DE shares. Citigroup started coverage on shares of Deere & Company in a research note on Wednesday, June 26th. They set a “neutral” rating and a $395.00 price target on the stock. Daiwa Capital Markets upped their target price on shares of Deere & Company from $400.00 to $420.00 and gave the stock an “overweight” rating in a report on Wednesday, May 15th. Raymond James began coverage on shares of Deere & Company in a report on Friday, June 28th. They set an “outperform” rating and a $420.00 target price on the stock. TD Cowen upped their target price on shares of Deere & Company from $383.00 to $390.00 and gave the stock a “hold” rating in a report on Friday, May 17th. Finally, Truist Financial decreased their target price on shares of Deere & Company from $460.00 to $439.00 and set a “buy” rating on the stock in a report on Tuesday. Eleven analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $427.66.

Deere & Company Trading Down 0.8 %

Shares of DE stock traded down $2.76 on Friday, hitting $360.03. 1,273,682 shares of the company’s stock traded hands, compared to its average volume of 1,533,038. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.80 and a current ratio of 2.01. Deere & Company has a one year low of $353.15 and a one year high of $450.00. The company’s fifty day simple moving average is $381.97 and its 200 day simple moving average is $386.45. The stock has a market capitalization of $99.21 billion, a price-to-earnings ratio of 10.84, a P/E/G ratio of 1.46 and a beta of 0.93.

Deere & Company (NYSE:DE) last released its earnings results 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 company had revenue of $13.61 billion for the quarter, compared to analyst estimates of $13.29 billion. During the same quarter last year, the firm earned $9.65 EPS. The firm’s quarterly revenue was down 15.4% compared to the same quarter last year. Equities analysts forecast that Deere & Company will post 25.59 EPS for the current year.

Deere & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 8th. Investors of record on Friday, June 28th will be issued a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a dividend yield of 1.63%. The ex-dividend date of this dividend is Friday, June 28th. Deere & Company’s dividend payout ratio is currently 17.70%.

Insider Activity at Deere & Company

In other Deere & Company news, insider Cory J. Reed sold 13,370 shares of the stock in a transaction on 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 sale, the insider now owns 41,642 shares of the company’s stock, valued at approximately $15,725,268.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.26% of the stock is owned by insiders.

Deere & Company 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.