Deere & Company $DE Shares Sold by Lifeworks Advisors LLC

Lifeworks Advisors LLC trimmed its position in shares of Deere & Company (NYSE:DE) by 11.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 10,668 shares of the industrial products company’s stock after selling 1,430 shares during the quarter. Lifeworks Advisors LLC’s holdings in Deere & Company were worth $6,009,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of DE. Strategic Advocates LLC acquired a new position in shares of Deere & Company during the 3rd quarter worth $25,000. Key Capital Management INC purchased a new stake in shares of Deere & Company in the 4th quarter worth about $27,000. Timmons Wealth Management LLC acquired a new stake in Deere & Company in the 4th quarter valued at about $29,000. McIlrath & Eck LLC acquired a new stake in Deere & Company in the 4th quarter valued at about $30,000. Finally, Portus Wealth Advisors LLC purchased a new position in Deere & Company during the 1st quarter valued at about $32,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Analyst Upgrades and Downgrades

DE has been the subject of a number of research reports. Raymond James Financial reduced their price target on shares of Deere & Company from $765.00 to $700.00 and set an “outperform” rating on the stock in a report on Friday, May 22nd. Wall Street Zen raised shares of Deere & Company from a “sell” rating to a “hold” rating in a research note on Sunday, July 5th. Weiss Ratings upgraded Deere & Company from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, May 21st. Citigroup reduced their target price on Deere & Company from $625.00 to $595.00 and set a “neutral” rating on the stock in a research note on Friday, May 22nd. Finally, Barclays increased their target price on Deere & Company from $530.00 to $640.00 and gave the company an “overweight” rating in a report on Tuesday, March 31st. Fourteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $642.23.

Deere & Company News Roundup

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 Stock Performance

NYSE:DE opened at $587.36 on Monday. The company has a debt-to-equity ratio of 1.54, a current ratio of 2.18 and a quick ratio of 1.95. The firm has a market cap of $158.55 billion, a PE ratio of 33.28, a P/E/G ratio of 2.17 and a beta of 0.89. The firm has a 50 day simple moving average of $581.74 and a 200-day simple moving average of $567.68. Deere & Company has a 1-year low of $433.00 and a 1-year high of $674.19.

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

Deere & Company Announces Dividend

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

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.