SeaBridge Investment Advisors LLC Sells 95 Shares of Deere & Company (NYSE:DE)

SeaBridge Investment Advisors LLC lowered its holdings in shares of Deere & Company (NYSE:DE) by 1.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,776 shares of the industrial products company’s stock after selling 95 shares during the quarter. SeaBridge Investment Advisors LLC’s holdings in Deere & Company were worth $2,158,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its position in Deere & Company by 1.2% during the first quarter. Vanguard Group Inc. now owns 21,988,363 shares of the industrial products company’s stock valued at $9,031,500,000 after purchasing an additional 263,709 shares during the period. Janus Henderson Group PLC raised its holdings in Deere & Company by 0.5% during the 1st quarter. Janus Henderson Group PLC now owns 3,859,021 shares of the industrial products company’s stock valued at $1,585,028,000 after buying an additional 19,200 shares during the period. Parnassus Investments LLC lifted its position in Deere & Company by 22.4% in the fourth quarter. Parnassus Investments LLC now owns 3,856,171 shares of the industrial products company’s stock worth $1,541,967,000 after buying an additional 705,771 shares during the last quarter. Norges Bank bought a new stake in Deere & Company in the fourth quarter worth $1,248,036,000. Finally, Dimensional Fund Advisors LP raised its stake in shares of Deere & Company by 11.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,595,945 shares of the industrial products company’s stock valued at $638,167,000 after acquiring an additional 160,369 shares during the period. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Stock Performance

NYSE:DE traded up $3.92 during trading hours on Friday, hitting $385.74. 1,413,160 shares of the company were exchanged, compared to its average volume of 1,615,005. The stock has a market capitalization of $106.30 billion, a price-to-earnings ratio of 11.61, a PEG ratio of 1.28 and a beta of 0.93. Deere & Company has a 52-week low of $340.20 and a 52-week high of $423.35. The company has a debt-to-equity ratio of 1.85, a current ratio of 2.07 and a quick ratio of 1.87. The company’s 50 day moving average price is $367.94 and its 200-day moving average price is $379.81.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share for the quarter, topping the consensus estimate of $5.63 by $0.66. The company 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 14.69% and a return on equity of 36.71%. Deere & Company’s revenue was down 20.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $10.20 EPS. As a group, research analysts forecast that Deere & Company will post 25.09 earnings per share for the current year.

Deere & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Monday, September 30th will be issued a $1.47 dividend. This represents a $5.88 annualized dividend and a dividend yield of 1.52%. The ex-dividend date is Monday, September 30th. Deere & Company’s dividend payout ratio (DPR) is currently 17.70%.

Insiders Place Their Bets

In other Deere & Company news, insider Cory J. Reed sold 13,370 shares of the company’s stock in a transaction 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 completion of the transaction, the insider now directly 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 accessible through this hyperlink. 0.26% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on DE. Oppenheimer reduced their price target on Deere & Company from $465.00 to $448.00 and set an “outperform” rating on the stock in a report on Monday, July 22nd. Truist Financial reiterated a “buy” rating and set a $443.00 target price (up from $439.00) on shares of Deere & Company in a research report on Friday, August 16th. Daiwa Capital Markets upped their price target on shares of Deere & Company from $400.00 to $420.00 and gave the stock an “overweight” rating in a report on Wednesday, May 15th. Hsbc Global Res cut shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 19th. Finally, Evercore ISI raised their target price on shares of Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a research report on Monday, August 19th. Fourteen equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Deere & Company has an average rating of “Hold” and an average price target of $414.11.

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.