Headlands Technologies LLC Takes Position in Deere & Company (NYSE:DE)

Headlands Technologies LLC purchased a new position in shares of Deere & Company (NYSE:DE) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 335 shares of the industrial products company’s stock, valued at approximately $138,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Keeler Thomas Management LLC grew its holdings in Deere & Company by 47.0% during the 1st quarter. Keeler Thomas Management LLC now owns 11,278 shares of the industrial products company’s stock worth $4,634,000 after acquiring an additional 3,604 shares in the last quarter. NorthRock Partners LLC grew its position in shares of Deere & Company by 10.6% in the 1st quarter. NorthRock Partners LLC now owns 2,304 shares of the industrial products company’s stock valued at $946,000 after buying an additional 221 shares during the last quarter. Abbrea Capital LLC grew its holdings in shares of Deere & Company by 5.0% during the first quarter. Abbrea Capital LLC now owns 1,353 shares of the industrial products company’s stock worth $558,000 after purchasing an additional 65 shares during the last quarter. Sei Investments Co. increased its position in shares of Deere & Company by 15.9% during the first quarter. Sei Investments Co. now owns 173,788 shares of the industrial products company’s stock worth $71,380,000 after purchasing an additional 23,878 shares in the last quarter. Finally, Nixon Peabody Trust Co. grew its stake in Deere & Company by 4.8% during the 1st quarter. Nixon Peabody Trust Co. now owns 35,161 shares of the industrial products company’s stock worth $14,442,000 after buying an additional 1,603 shares during the last quarter. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Deere & Company news, insider Cory J. Reed sold 13,370 shares of Deere & Company stock in a transaction on 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 transaction, the insider now owns 41,642 shares in the company, valued at approximately $15,725,268.46. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.26% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on DE shares. Raymond James began coverage on Deere & Company in a research note on Friday, June 28th. They issued an “outperform” rating and a $420.00 price objective for the company. JPMorgan Chase & Co. lowered their price objective on shares of Deere & Company from $385.00 to $375.00 and set a “neutral” rating on the stock in a research report on Thursday, July 11th. Oppenheimer reaffirmed an “outperform” rating and issued a $456.00 target price on shares of Deere & Company in a report on Thursday, May 16th. Truist Financial lowered their price target on Deere & Company from $460.00 to $439.00 and set a “buy” rating on the stock in a report on Tuesday, July 2nd. Finally, DA Davidson reduced their price objective on Deere & Company from $483.00 to $465.00 and set a “buy” rating for the company in a research note on Monday, May 20th. Eleven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Deere & Company has a consensus rating of “Hold” and a consensus target price of $427.13.

Deere & Company Price Performance

NYSE:DE traded up $6.10 during trading hours on Wednesday, reaching $383.61. 132,885 shares of the company traded hands, compared to its average volume of 1,501,012. Deere & Company has a 1-year low of $345.93 and a 1-year high of $450.00. The stock has a market cap of $105.71 billion, a P/E ratio of 11.36, a P/E/G ratio of 1.50 and a beta of 0.93. The firm’s 50-day moving average is $376.92 and its 200-day moving average is $384.58. The company has a debt-to-equity ratio of 1.81, a current ratio of 2.01 and a quick ratio of 1.80.

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, beating 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 business had revenue of $13.61 billion for the quarter, compared to analyst estimates of $13.29 billion. During the same quarter last year, the company 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 expect that Deere & Company will post 25.56 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 8th. Investors of record on Friday, June 28th will be paid a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a dividend yield of 1.53%. The ex-dividend date is Friday, June 28th. Deere & Company’s payout ratio is 17.70%.

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.