BDF Gestion Invests $2.59 Million in Deere & Company (NYSE:DE)

BDF Gestion purchased a new position in shares of Deere & Company (NYSE:DE) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 6,934 shares of the industrial products company’s stock, valued at approximately $2,591,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. True Wealth Design LLC increased its holdings in Deere & Company by 1,180.0% in the 4th quarter. True Wealth Design LLC now owns 64 shares of the industrial products company’s stock valued at $26,000 after buying an additional 59 shares during the period. Pineridge Advisors LLC increased its stake in shares of Deere & Company by 725.0% in the 1st quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 58 shares during the last quarter. Rakuten Securities Inc. acquired a new position in shares of Deere & Company during the 4th quarter worth $28,000. Naples Money Management LLC bought a new stake in shares of Deere & Company during the 4th quarter worth $29,000. Finally, Private Wealth Management Group LLC acquired a new stake in Deere & Company in the fourth quarter valued at about $29,000. 68.58% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Deere & Company

In other news, insider Cory J. Reed sold 13,370 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The stock was 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 $15,725,268.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.26% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have recently commented on DE. Raymond James started coverage on shares of Deere & Company in a report on Friday, June 28th. They issued an “outperform” rating and a $420.00 target price for the company. 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 research note on Tuesday, July 2nd. Citigroup assumed coverage on Deere & Company in a research note on Wednesday, June 26th. They issued a “neutral” rating and a $395.00 price target for the company. Daiwa Capital Markets boosted their price objective on Deere & Company from $400.00 to $420.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 15th. Finally, TD Cowen increased their target price on Deere & Company from $383.00 to $390.00 and gave the company a “hold” rating in a research report on Friday, May 17th. Twelve equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $424.78.

Deere & Company Trading Down 0.9 %

DE stock traded down $3.11 during mid-day trading on Friday, reaching $346.03. The company’s stock had a trading volume of 1,335,203 shares, compared to its average volume of 1,531,324. The company has a market cap of $95.36 billion, a price-to-earnings ratio of 10.42, a price-to-earnings-growth ratio of 1.59 and a beta of 0.93. Deere & Company has a 12 month low of $340.20 and a 12 month high of $441.46. The business’s 50 day moving average price is $368.46 and its 200 day moving average price is $381.69. The company has a current ratio of 2.01, a quick ratio of 1.80 and a debt-to-equity ratio of 1.81.

Deere & Company (NYSE:DE) last announced 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 firm had revenue of $13.61 billion during the quarter, compared to analysts’ expectations of $13.29 billion. During the same quarter last year, the firm posted $9.65 earnings per share. The company’s revenue for the quarter was down 15.4% compared to the same quarter last year. On average, equities research analysts predict that Deere & Company will post 25.41 EPS for the current year.

Deere & Company Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 8th. Investors of record on Friday, June 28th were issued a $1.47 dividend. The ex-dividend date was Friday, June 28th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.70%. Deere & Company’s dividend payout ratio is presently 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.