Deere & Company (NYSE:DE) Shares Bought by Rehmann Capital Advisory Group

Rehmann Capital Advisory Group lifted its position in shares of Deere & Company (NYSE:DEFree Report) by 24.7% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 1,769 shares of the industrial products company’s stock after acquiring an additional 350 shares during the period. Rehmann Capital Advisory Group’s holdings in Deere & Company were worth $727,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. iA Global Asset Management Inc. increased its holdings in Deere & Company by 109.7% in the 3rd quarter. iA Global Asset Management Inc. now owns 2,655 shares of the industrial products company’s stock valued at $1,002,000 after purchasing an additional 1,389 shares in the last quarter. Townsquare Capital LLC grew its position in Deere & Company by 15.2% in the third quarter. Townsquare Capital LLC now owns 4,608 shares of the industrial products company’s stock valued at $1,739,000 after acquiring an additional 607 shares in the last quarter. Harbour Investments Inc. raised its stake in shares of Deere & Company by 22.7% during the third quarter. Harbour Investments Inc. now owns 4,761 shares of the industrial products company’s stock valued at $1,797,000 after purchasing an additional 882 shares during the period. Creative Planning lifted its position in shares of Deere & Company by 12.3% during the third quarter. Creative Planning now owns 72,746 shares of the industrial products company’s stock worth $27,453,000 after purchasing an additional 7,954 shares in the last quarter. Finally, Integrated Advisors Network LLC boosted its stake in shares of Deere & Company by 2.3% in the third quarter. Integrated Advisors Network LLC now owns 3,535 shares of the industrial products company’s stock valued at $1,334,000 after purchasing an additional 78 shares during the period. 68.58% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Deere & Company news, insider Cory J. Reed sold 13,370 shares of the firm’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $377.63, for a total transaction of $5,048,913.10. Following the completion of the sale, the insider now owns 41,642 shares of the company’s stock, valued at approximately $15,725,268.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.26% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on DE shares. Stifel Nicolaus raised their target price on Deere & Company from $425.00 to $450.00 and gave the company a “buy” rating in a research note on Friday, May 17th. Daiwa Capital Markets lifted their price objective on Deere & Company from $400.00 to $420.00 and gave the stock an “overweight” rating in a report on Wednesday, May 15th. JPMorgan Chase & Co. cut their target price on Deere & Company from $425.00 to $385.00 and set a “neutral” rating on the stock in a research report on Friday, May 17th. Truist Financial decreased their price target on shares of Deere & Company from $460.00 to $439.00 and set a “buy” rating for the company in a research report on Tuesday, July 2nd. Finally, Morgan Stanley upped their price target on shares of Deere & Company from $430.00 to $450.00 in a report on Wednesday, May 15th. Eleven research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, Deere & Company has a consensus rating of “Hold” and a consensus price target of $427.66.

Check Out Our Latest Research Report on Deere & Company

Deere & Company Trading Up 0.2 %

DE stock traded up $0.67 during midday trading on Wednesday, reaching $349.51. The company’s stock had a trading volume of 978,328 shares, compared to its average volume of 1,510,037. The company has a quick ratio of 1.80, a current ratio of 2.01 and a debt-to-equity ratio of 1.81. The stock has a market cap of $96.31 billion, a PE ratio of 10.52, a price-to-earnings-growth ratio of 1.43 and a beta of 0.93. The business’s 50-day simple moving average is $380.20 and its 200-day simple moving average is $385.79. Deere & Company has a 52 week low of $345.93 and a 52 week high of $450.00.

Deere & Company (NYSE:DEGet Free Report) last released its earnings results on Thursday, May 16th. The industrial products company reported $8.53 earnings per share for the quarter, beating analysts’ consensus estimates of $7.86 by $0.67. The business had revenue of $13.61 billion during the quarter, compared to the consensus estimate of $13.29 billion. Deere & Company had a net margin of 16.15% and a return on equity of 42.26%. The firm’s revenue for the quarter was down 15.4% compared to the same quarter last year. During the same quarter last year, the firm earned $9.65 earnings per share. As a group, sell-side analysts expect that Deere & Company will post 25.56 EPS for the current year.

Deere & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 8th. Shareholders of record on Friday, June 28th will be given a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a yield of 1.68%. The ex-dividend date of this dividend is Friday, June 28th. Deere & Company’s dividend payout ratio (DPR) is currently 17.70%.

About Deere & Company

(Free Report)

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.

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Institutional Ownership by Quarter for Deere & Company (NYSE:DE)

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