UniSuper Management Pty Ltd Purchases 3,875 Shares of Deere & Company (NYSE:DE)

UniSuper Management Pty Ltd lifted its position in shares of Deere & Company (NYSE:DE) by 20.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 23,198 shares of the industrial products company’s stock after acquiring an additional 3,875 shares during the period. UniSuper Management Pty Ltd’s holdings in Deere & Company were worth $9,528,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. True Wealth Design LLC increased its position 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 purchasing an additional 59 shares in the last quarter. Rakuten Securities Inc. acquired a new position in Deere & Company during the 4th quarter worth approximately $28,000. Naples Money Management LLC acquired a new position in Deere & Company in the 4th quarter valued at approximately $29,000. Private Wealth Management Group LLC acquired a new position in Deere & Company in the 4th quarter valued at approximately $29,000. Finally, Bfsg LLC acquired a new position in Deere & Company in the 4th quarter valued at approximately $30,000. Institutional investors own 68.58% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on DE shares. Daiwa Capital Markets upped their price target on shares of Deere & Company from $400.00 to $420.00 and gave the company an “overweight” rating in a research report on Wednesday, May 15th. Raymond James started coverage on shares of Deere & Company in a research report on Friday, June 28th. They set an “outperform” rating and a $420.00 price objective for the company. Truist Financial decreased their price objective on shares of Deere & Company from $460.00 to $439.00 and set a “buy” rating for the company in a research report on Tuesday, July 2nd. TD Cowen increased 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, JPMorgan Chase & Co. decreased their price objective on shares of Deere & Company from $385.00 to $375.00 and set a “neutral” rating for the company in a research report on Thursday, July 11th. 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 company currently has a consensus rating of “Hold” and an average target price of $426.71.

Deere & Company Stock Down 2.1 %

Shares of Deere & Company stock traded down $7.79 during trading hours on Tuesday, reaching $371.46. The company’s stock had a trading volume of 1,335,939 shares, compared to its average volume of 1,505,912. Deere & Company has a one year low of $345.93 and a one year high of $450.00. The company has a market capitalization of $102.36 billion, a P/E ratio of 11.18, a P/E/G ratio of 1.53 and a beta of 0.93. The stock’s fifty day simple moving average is $373.95 and its two-hundred day simple moving average is $383.96. 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 (NYSE:DE) last released its quarterly earnings data on Thursday, May 16th. The industrial products company reported $8.53 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $13.29 billion. During the same period last year, the firm earned $9.65 earnings per share. The business’s quarterly revenue was down 15.4% compared to the same quarter last year. On average, research analysts forecast that Deere & Company will post 25.49 earnings per share for the current year.

Deere & Company Dividend Announcement

The business also recently disclosed 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. The ex-dividend date is Friday, June 28th. This represents a $5.88 dividend on an annualized basis and a yield of 1.58%. Deere & Company’s dividend payout ratio (DPR) is presently 17.70%.

Insider Buying and Selling

In related 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 completion of the sale, the insider now owns 41,642 shares in the company, valued at $15,725,268.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.26% of the stock is currently owned by corporate insiders.

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.