Deere & Company $DE Stock Position Lessened by Tradewinds LLC.

Tradewinds LLC. trimmed its holdings in Deere & Company (NYSE:DE) by 6.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,881 shares of the industrial products company’s stock after selling 1,024 shares during the quarter. Deere & Company makes up about 3.2% of Tradewinds LLC.’s holdings, making the stock its 7th biggest position. Tradewinds LLC.’s holdings in Deere & Company were worth $8,590,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. LGT Fund Management Co Ltd. boosted its stake in Deere & Company by 25.4% during the 1st quarter. LGT Fund Management Co Ltd. now owns 1,630 shares of the industrial products company’s stock worth $918,000 after purchasing an additional 330 shares during the period. Global Assets Advisory LLC purchased a new position in Deere & Company during the 1st quarter worth $60,000. Diversify Wealth Management LLC acquired a new position in Deere & Company in the first quarter valued at $1,582,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Deere & Company by 0.4% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 58,725 shares of the industrial products company’s stock valued at $33,080,000 after purchasing an additional 247 shares during the period. Finally, Fifth Third Bancorp raised its holdings in shares of Deere & Company by 17.0% in the first quarter. Fifth Third Bancorp now owns 267,308 shares of the industrial products company’s stock valued at $150,575,000 after buying an additional 38,910 shares during the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Price Performance

Shares of DE opened at $587.36 on Monday. The company has a current ratio of 2.18, a quick ratio of 1.95 and a debt-to-equity ratio of 1.54. The stock’s 50 day moving average is $581.74 and its two-hundred day moving average is $567.68. Deere & Company has a twelve month low of $433.00 and a twelve month high of $674.19. The firm has a market capitalization of $158.55 billion, a PE ratio of 33.28, a P/E/G ratio of 2.17 and a beta of 0.89.

Deere & Company (NYSE:DE) last issued 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 business had revenue of $13.37 billion during the quarter, compared to the consensus estimate of $11.55 billion. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.The company’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period in the prior year, the business posted $6.64 EPS. Research analysts anticipate that Deere & Company will post 18.13 earnings per share for the current year.

Deere & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Investors of record on Tuesday, June 30th will be issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a 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%.

Key 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

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on DE. Barclays increased their target price on shares of Deere & Company from $530.00 to $640.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 31st. DA Davidson dropped their price target on Deere & Company from $775.00 to $685.00 and set a “buy” rating on the stock in a research report on Friday, May 22nd. Truist Financial upped their price objective on Deere & Company from $759.00 to $812.00 and gave the company a “buy” rating in a research note on Thursday, July 2nd. Jefferies Financial Group raised Deere & Company from an “underperform” rating to a “hold” rating and set a $550.00 price objective for the company in a research report on Wednesday, April 8th. Finally, Weiss Ratings upgraded Deere & Company from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, May 21st. Fourteen investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, Deere & Company has a consensus rating of “Moderate Buy” and an average target price of $642.23.

About Deere & Company

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.