Deere & Company (NYSE:DE) Shares Sold by WD Rutherford LLC

WD Rutherford LLC cut its position in shares of Deere & Company (NYSE:DE) by 32.7% in the second quarter, Holdings Channel.com reports. The institutional investor owned 2,118 shares of the industrial products company’s stock after selling 1,031 shares during the period. WD Rutherford LLC’s holdings in Deere & Company were worth $791,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of DE. International Assets Investment Management LLC lifted its stake in Deere & Company by 15.9% during the fourth quarter. International Assets Investment Management LLC now owns 2,102 shares of the industrial products company’s stock valued at $841,000 after buying an additional 288 shares in the last quarter. Duality Advisers LP purchased a new stake in shares of Deere & Company in the fourth quarter worth approximately $461,000. South Dakota Investment Council lifted its position in shares of Deere & Company by 16.6% in the fourth quarter. South Dakota Investment Council now owns 9,127 shares of the industrial products company’s stock worth $3,650,000 after purchasing an additional 1,300 shares in the last quarter. Bfsg LLC purchased a new stake in shares of Deere & Company in the fourth quarter worth approximately $30,000. Finally, Tokio Marine Asset Management Co. Ltd. lifted its position in shares of Deere & Company by 2.8% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,166 shares of the industrial products company’s stock worth $2,466,000 after purchasing an additional 168 shares in the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

DE has been the subject of a number of research analyst reports. JPMorgan Chase & Co. reduced their price target on shares of Deere & Company from $375.00 to $360.00 and set a “neutral” rating for the company in a research report on Tuesday, August 13th. TD Cowen increased their price target 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. Truist Financial reissued a “buy” rating and issued a $443.00 price target (up from $439.00) on shares of Deere & Company in a research report on Friday, August 16th. Bank of America increased their price objective on Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a report on Friday, August 16th. Finally, BMO Capital Markets initiated coverage on Deere & Company in a report on Friday, August 9th. They issued a “market perform” rating and a $400.00 price objective on the stock. Fourteen research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, Deere & Company currently has a consensus rating of “Hold” and an average price target of $415.50.

Insider Transactions at Deere & Company

In related news, insider Cory J. Reed sold 13,370 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider now directly owns 41,642 shares of the company’s stock, valued at $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 currently owned by corporate insiders.

Deere & Company Stock Performance

DE stock traded up $4.59 during midday trading on Friday, hitting $381.18. 1,197,519 shares of the company traded hands, compared to its average volume of 1,540,044. Deere & Company has a twelve month low of $340.20 and a twelve month high of $423.35. The company has a quick ratio of 1.80, a current ratio of 2.01 and a debt-to-equity ratio of 1.81. The business has a 50 day simple moving average of $367.88 and a 200-day simple moving average of $379.89. The stock has a market capitalization of $105.04 billion, a price-to-earnings ratio of 11.47, a price-to-earnings-growth ratio of 1.59 and a beta of 0.93.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.63 by $0.66. The business had revenue of $11.39 billion for the quarter, compared to the consensus estimate of $10.94 billion. Deere & Company had a net margin of 16.15% and a return on equity of 42.26%. Deere & Company’s quarterly revenue was down 20.3% on a year-over-year basis. During the same quarter last year, the company posted $10.20 earnings per share. As a group, equities research analysts predict that Deere & Company will post 25.41 earnings per share for the current year.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 8th. Stockholders of record on Friday, June 28th were paid a $1.47 dividend. The ex-dividend date of this dividend was Friday, June 28th. This represents a $5.88 annualized dividend and a dividend yield of 1.54%. 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.