Y.D. More Investments Ltd Sells 1,290 Shares of Deere & Company $DE

Y.D. More Investments Ltd lessened its holdings in Deere & Company (NYSE:DE) by 16.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,731 shares of the industrial products company’s stock after selling 1,290 shares during the quarter. Y.D. More Investments Ltd’s holdings in Deere & Company were worth $3,792,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Norges Bank bought a new position in Deere & Company in the fourth quarter valued at about $1,715,633,000. Capital World Investors grew its holdings in shares of Deere & Company by 53.9% during the 4th quarter. Capital World Investors now owns 9,592,004 shares of the industrial products company’s stock valued at $4,465,906,000 after purchasing an additional 3,358,264 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Deere & Company by 1,725.8% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,003,715 shares of the industrial products company’s stock valued at $932,870,000 after purchasing an additional 1,893,972 shares during the last quarter. M&T Bank Corp increased its position in Deere & Company by 1,199.8% during the 4th quarter. M&T Bank Corp now owns 1,864,701 shares of the industrial products company’s stock worth $868,149,000 after purchasing an additional 1,721,239 shares in the last quarter. Finally, Diamant Asset Management Inc. lifted its stake in Deere & Company by 56,230.0% in the 1st quarter. Diamant Asset Management Inc. now owns 610,617 shares of the industrial products company’s stock valued at $343,961,000 after purchasing an additional 609,533 shares during the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on DE. Raymond James Financial cut their target price on shares of Deere & Company from $765.00 to $700.00 and set an “outperform” rating on the stock in a research report on Friday, May 22nd. Weiss Ratings raised Deere & Company from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, May 21st. Wolfe Research upped their target price on Deere & Company from $550.00 to $660.00 and gave the stock an “outperform” rating in a report on Tuesday, March 31st. JPMorgan Chase & Co. increased their target price on Deere & Company from $560.00 to $590.00 and gave the company a “neutral” rating in a research report on Thursday, June 4th. Finally, Truist Financial lifted their price target on Deere & Company from $759.00 to $812.00 and gave the company a “buy” rating in a research note on Thursday, July 2nd. Fourteen research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $642.23.

Deere & Company Trading Up 0.1%

Shares of DE stock opened at $587.36 on Monday. Deere & Company has a 1-year low of $433.00 and a 1-year high of $674.19. 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 has a market cap of $158.55 billion, a price-to-earnings ratio of 33.28, a PEG ratio of 2.17 and a beta of 0.89. The stock has a 50-day moving average of $581.74 and a 200-day moving average of $567.68.

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, topping analysts’ consensus estimates of $5.70 by $0.85. The company had revenue of $13.37 billion for the quarter, compared to analyst estimates of $11.55 billion. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.The firm’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the firm earned $6.64 earnings per share. On average, equities research analysts forecast that Deere & Company will post 18.13 earnings per share for the current year.

Deere & Company Announces Dividend

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

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 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.