Osprey Private Wealth LLC Boosts Stock Position in Deere & Company $DE

Osprey Private Wealth LLC grew its position in Deere & Company (NYSE:DE) by 51.3% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,706 shares of the industrial products company’s stock after buying an additional 1,256 shares during the period. Osprey Private Wealth LLC’s holdings in Deere & Company were worth $2,088,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of DE. Brighton Jones LLC boosted its position in shares of Deere & Company by 39.1% in the 4th quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company’s stock worth $1,927,000 after purchasing an additional 1,278 shares in the last quarter. Schnieders Capital Management LLC. increased its position in Deere & Company by 7.8% during the 2nd quarter. Schnieders Capital Management LLC. now owns 2,076 shares of the industrial products company’s stock valued at $1,056,000 after buying an additional 150 shares in the last quarter. Jump Financial LLC acquired a new position in Deere & Company during the 2nd quarter valued at about $2,153,000. NewEdge Advisors LLC raised its stake in Deere & Company by 6.0% in the second quarter. NewEdge Advisors LLC now owns 18,758 shares of the industrial products company’s stock valued at $9,538,000 after buying an additional 1,067 shares during the last quarter. Finally, Main Street Financial Solutions LLC raised its stake in Deere & Company by 6.7% in the second quarter. Main Street Financial Solutions LLC now owns 1,551 shares of the industrial products company’s stock valued at $789,000 after buying an additional 97 shares during the last quarter. Institutional investors own 68.58% of the company’s stock.

Deere & Company Price Performance

NYSE DE traded down $5.54 during trading hours on Friday, reaching $587.36. The company’s stock had a trading volume of 782,098 shares, compared to its average volume of 1,174,307. The firm has a market capitalization of $158.55 billion, a price-to-earnings ratio of 33.28, a P/E/G ratio of 2.19 and a beta of 0.89. The company’s 50-day moving average is $581.74 and its two-hundred day moving average is $566.99. The company has a debt-to-equity ratio of 1.54, a current ratio of 2.18 and a quick ratio of 1.95. Deere & Company has a 1-year low of $433.00 and a 1-year high of $674.19.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, May 21st. The industrial products company reported $6.55 EPS for the quarter, beating analysts’ consensus estimates of $5.70 by $0.85. The business had revenue of $13.37 billion during the quarter, compared to analysts’ expectations of $11.55 billion. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.The business’s revenue was up 5.4% compared to the same quarter last year. During the same period in the previous year, the business earned $6.64 earnings per share. On average, equities analysts predict that Deere & Company will post 18.13 EPS for the current year.

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Tuesday, June 30th will be issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Tuesday, June 30th. Deere & Company’s dividend payout ratio (DPR) is presently 36.71%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on DE shares. Bank of America dropped their price target on Deere & Company from $672.00 to $607.50 and set a “neutral” rating on the stock in a research note on Friday, May 22nd. Citigroup lowered their target price on shares of Deere & Company from $625.00 to $595.00 and set a “neutral” rating for the company in a research note on Friday, May 22nd. Oppenheimer reissued an “outperform” rating and set a $680.00 target price (down from $715.00) on shares of Deere & Company in a research report on Wednesday, May 27th. Robert W. Baird decreased their price target on shares of Deere & Company from $580.00 to $525.00 and set a “neutral” rating for the company in a report on Friday, May 22nd. Finally, DA Davidson lowered their price objective on shares of Deere & Company from $775.00 to $685.00 and set a “buy” rating for the company in a research note on Friday, May 22nd. Fourteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Deere & Company has an average rating of “Moderate Buy” and an average price target of $642.23.

More Deere & Company News

Here are the key news stories impacting Deere & Company this week:

• Positive Sentiment: D.A. Davidson’s new coverage on AGCO highlighted that weak farm conditions can still support equipment makers like Deere, reinforcing the view that replacement demand and pricing power may hold up better than expected for agricultural OEMs. Farming Is Terrible Right Now. That’s Good for Deere and AGCO Stocks.
• Positive Sentiment: Jim Cramer was upbeat on Deere, calling the stock “incredible” and suggesting it still has room to go higher, which may help sentiment around the shares. Jim Cramer on Deere & Company: “The Stock Is Incredible, and It’s Not Done Going Higher”
• Neutral Sentiment: An analyst report on Deere was published, but no clear thesis or rating details were provided in the feed, so it is likely a limited near-term catalyst. Analyst Report: Deere & Co
• Negative Sentiment: Deere settled a right-to-repair dispute with the FTC, requiring it to provide farmers and independent repair providers the same repair resources as authorized dealers for 10 years. Investors may see this as a hit to Deere’s control over service revenue and after-sales economics. Deere settles right to repair dispute with FTC

Deere & Company Company Profile

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.