SeaBridge Investment Advisors LLC Sells 449 Shares of Deere & Company (NYSE:DE)

SeaBridge Investment Advisors LLC trimmed its holdings in shares of Deere & Company (NYSE:DE) by 7.5% during the first quarter, Holdings Channel.com reports. The fund owned 5,555 shares of the industrial products company’s stock after selling 449 shares during the quarter. SeaBridge Investment Advisors LLC’s holdings in Deere & Company were worth $2,607,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of DE. Brighton Jones LLC grew its stake in Deere & Company by 39.1% during the fourth quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company’s stock worth $1,927,000 after buying an additional 1,278 shares in the last quarter. Proficio Capital Partners LLC grew its stake in Deere & Company by 23.4% during the fourth quarter. Proficio Capital Partners LLC now owns 1,253 shares of the industrial products company’s stock worth $531,000 after buying an additional 238 shares in the last quarter. Harbour Investments Inc. grew its stake in Deere & Company by 1.2% during the fourth quarter. Harbour Investments Inc. now owns 5,622 shares of the industrial products company’s stock worth $2,382,000 after buying an additional 65 shares in the last quarter. Twin Tree Management LP acquired a new stake in Deere & Company during the fourth quarter worth about $74,000. Finally, Cibc World Markets Corp grew its stake in Deere & Company by 15.2% during the fourth quarter. Cibc World Markets Corp now owns 40,420 shares of the industrial products company’s stock worth $17,126,000 after buying an additional 5,318 shares in the last quarter. 68.58% of the stock is owned by institutional investors.

Deere & Company Stock Down 0.9%

Shares of NYSE DE opened at $503.18 on Wednesday. The company has a 50 day simple moving average of $511.79 and a 200 day simple moving average of $479.40. The firm has a market cap of $136.28 billion, a PE ratio of 24.34, a price-to-earnings-growth ratio of 3.22 and a beta of 1.08. Deere & Company has a 1 year low of $340.20 and a 1 year high of $533.78. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.11 and a quick ratio of 1.89.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.72 by $0.92. Deere & Company had a net margin of 12.40% and a return on equity of 24.39%. The firm had revenue of $11.17 billion during the quarter, compared to analyst estimates of $10.80 billion. During the same quarter last year, the business earned $8.53 EPS. The company’s revenue was down 17.9% compared to the same quarter last year. On average, research analysts forecast that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Monday, June 30th will be issued a dividend of $1.62 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $6.48 annualized dividend and a yield of 1.29%. Deere & Company’s payout ratio is 31.35%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on DE. Robert W. Baird raised their price target on shares of Deere & Company from $501.00 to $514.00 and gave the company a “neutral” rating in a research note on Friday, May 16th. Oppenheimer raised their price target on shares of Deere & Company from $555.00 to $560.00 and gave the company an “outperform” rating in a research note on Tuesday. Melius Research upgraded shares of Deere & Company from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 6th. Melius upgraded shares of Deere & Company from a “hold” rating to a “buy” rating in a research note on Friday, June 6th. Finally, Truist Financial raised their price target on shares of Deere & Company from $546.00 to $619.00 and gave the company a “buy” rating in a research note on Friday, May 16th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $515.50.

Deere & Company Profile

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.