Family Firm Inc. Invests $61,000 in Deere & Company (NYSE:DE)

Family Firm Inc. purchased a new stake in shares of Deere & Company (NYSE:DE) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 164 shares of the industrial products company’s stock, valued at approximately $61,000.

Other large investors have also added to or reduced their stakes in the company. Oldfather Financial Services LLC boosted its holdings in Deere & Company by 2.6% in the second quarter. Oldfather Financial Services LLC now owns 1,206 shares of the industrial products company’s stock valued at $450,000 after purchasing an additional 31 shares during the last quarter. Slow Capital Inc. boosted its stake in shares of Deere & Company by 24.7% during the 2nd quarter. Slow Capital Inc. now owns 7,823 shares of the industrial products company’s stock valued at $2,927,000 after buying an additional 1,548 shares during the last quarter. Van Lanschot Kempen Investment Management N.V. boosted its stake in shares of Deere & Company by 23.0% during the 2nd quarter. Van Lanschot Kempen Investment Management N.V. now owns 113,712 shares of the industrial products company’s stock valued at $42,486,000 after buying an additional 21,226 shares during the last quarter. Avitas Wealth Management LLC grew its position in shares of Deere & Company by 0.4% during the second quarter. Avitas Wealth Management LLC now owns 6,995 shares of the industrial products company’s stock worth $2,614,000 after buying an additional 30 shares in the last quarter. Finally, Everhart Financial Group Inc. increased its stake in shares of Deere & Company by 20.6% in the second quarter. Everhart Financial Group Inc. now owns 1,247 shares of the industrial products company’s stock worth $466,000 after buying an additional 213 shares during the last quarter. 68.58% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Cory J. Reed sold 13,370 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now owns 41,642 shares in the company, valued at $15,725,268.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.26% of the stock is owned by insiders.

Analysts Set New Price Targets

DE has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a research note on Thursday, August 8th. TD Cowen boosted their price objective on Deere & Company from $383.00 to $390.00 and gave the company a “hold” rating in a report on Friday, May 17th. Truist Financial reaffirmed a “buy” rating and set a $443.00 target price (up previously from $439.00) on shares of Deere & Company in a report on Friday, August 16th. Raymond James initiated coverage on Deere & Company in a research report on Friday, June 28th. They issued an “outperform” rating and a $420.00 target price for the company. Finally, HSBC lowered Deere & Company from a “buy” rating to a “hold” rating in a research report on Monday, August 19th. Fourteen equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $415.50.

Deere & Company Price Performance

Shares of NYSE:DE opened at $381.18 on Friday. The firm’s 50 day moving average is $367.88 and its two-hundred day moving average is $379.93. The firm has a market capitalization of $105.04 billion, a P/E ratio of 11.47, a PEG ratio of 1.59 and a beta of 0.93. 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 has a 52 week low of $340.20 and a 52 week high of $423.35.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.63 by $0.66. Deere & Company had a return on equity of 42.26% and a net margin of 16.15%. The business had revenue of $11.39 billion during the quarter, compared to analyst estimates of $10.94 billion. During the same period in the prior year, the company posted $10.20 EPS. The business’s revenue for the quarter was down 20.3% compared to the same quarter last year. Analysts anticipate that Deere & Company will post 25.41 earnings per share for the current year.

Deere & Company Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 8th. Investors of record on Friday, June 28th were given a $1.47 dividend. The ex-dividend date was Friday, June 28th. This represents a $5.88 dividend on an annualized basis and a yield of 1.54%. Deere & Company’s dividend payout ratio is presently 17.70%.

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.