Entropy Technologies LP Purchases Shares of 3,985 Deere & Company (NYSE:DE)

Entropy Technologies LP purchased a new stake in Deere & Company (NYSE:DE) during the 1st quarter, Holdings Channel reports. The firm purchased 3,985 shares of the industrial products company’s stock, valued at approximately $1,637,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in DE. True Wealth Design LLC increased its stake in shares of 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 during the last quarter. ZRC Wealth Management LLC bought a new stake in Deere & Company in the 4th quarter valued at about $28,000. Rakuten Securities Inc. bought a new stake in Deere & Company in the 4th quarter valued at about $28,000. Naples Money Management LLC bought a new stake in Deere & Company in the 4th quarter valued at about $29,000. Finally, Private Wealth Management Group LLC bought a new stake in Deere & Company in the 4th quarter valued at about $29,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Deere & Company

In other news, insider Cory J. Reed sold 13,370 shares of the business’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 directly owns 41,642 shares of the company’s stock, valued at $15,725,268.46. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.26% of the stock is currently owned by insiders.

Deere & Company Trading Up 1.3 %

Shares of NYSE:DE traded up $4.84 during mid-day trading on Thursday, reaching $389.97. 150,185 shares of the company’s stock were exchanged, compared to its average volume of 1,501,336. The firm has a market capitalization of $107.46 billion, a price-to-earnings ratio of 11.59, a PEG ratio of 1.53 and a beta of 0.93. The business’s fifty day moving average price is $376.51 and its 200-day moving average price is $384.58. 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 has a twelve month low of $345.93 and a twelve month high of $450.00.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, May 16th. The industrial products company reported $8.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.86 by $0.67. Deere & Company had a net margin of 16.15% and a return on equity of 42.26%. The business had revenue of $13.61 billion for the quarter, compared to analyst estimates of $13.29 billion. During the same quarter in the previous year, the business earned $9.65 earnings per share. Deere & Company’s revenue for the quarter was down 15.4% on a year-over-year basis. On average, research analysts predict that Deere & Company will post 25.44 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 8th. Stockholders of record on Friday, June 28th will be given a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a dividend yield of 1.51%. The ex-dividend date is Friday, June 28th. Deere & Company’s payout ratio is presently 17.70%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. TD Cowen upped their price target on shares of Deere & Company from $383.00 to $390.00 and gave the stock a “hold” rating in a report on Friday, May 17th. Morgan Stanley upped their price target on shares of Deere & Company from $430.00 to $450.00 in a report on Wednesday, May 15th. DA Davidson cut their price target on shares of Deere & Company from $483.00 to $465.00 and set a “buy” rating for the company in a report on Monday, May 20th. JPMorgan Chase & Co. cut their price target on shares of Deere & Company from $385.00 to $375.00 and set a “neutral” rating for the company in a report on Thursday, July 11th. Finally, Truist Financial cut their price target on shares of Deere & Company from $460.00 to $439.00 and set a “buy” rating for the company in a report on Tuesday, July 2nd. Eleven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, Deere & Company has an average rating of “Hold” and a consensus price target of $427.13.

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.