Deere & Company (NYSE:DE) Shares Sold by OneAscent Financial Services LLC

OneAscent Financial Services LLC lessened its holdings in Deere & Company (NYSE:DE) by 1.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,700 shares of the industrial products company’s stock after selling 67 shares during the quarter. OneAscent Financial Services LLC’s holdings in Deere & Company were worth $1,520,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Morgan Stanley grew its holdings in Deere & Company by 1.3% during the third quarter. Morgan Stanley now owns 5,089,159 shares of the industrial products company’s stock worth $1,920,548,000 after acquiring an additional 65,006 shares during the period. Parnassus Investments LLC increased its holdings in shares of Deere & Company by 22.4% during the 4th quarter. Parnassus Investments LLC now owns 3,856,171 shares of the industrial products company’s stock valued at $1,541,967,000 after purchasing an additional 705,771 shares in the last quarter. Norges Bank purchased a new position in shares of Deere & Company during the 4th quarter valued at approximately $1,248,036,000. Dimensional Fund Advisors LP lifted its stake in shares of Deere & Company by 11.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,595,945 shares of the industrial products company’s stock valued at $638,167,000 after purchasing an additional 160,369 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Deere & Company by 2.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,570,773 shares of the industrial products company’s stock worth $628,105,000 after buying an additional 31,074 shares in the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Price Performance

Shares of Deere & Company stock traded down $1.68 on Friday, hitting $373.63. 6,689,701 shares of the company were exchanged, compared to its average volume of 1,409,983. 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 company has a 50-day moving average price of $385.32 and a 200 day moving average price of $387.02. The stock has a market capitalization of $102.96 billion, a price-to-earnings ratio of 11.25, a price-to-earnings-growth ratio of 1.51 and a beta of 0.98. Deere & Company has a 1-year low of $353.15 and a 1-year high of $450.00.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, May 16th. The industrial products company reported $8.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.86 by $0.67. Deere & Company had a return on equity of 42.26% and a net margin of 16.15%. The company had revenue of $13.61 billion during the quarter, compared to analysts’ expectations of $13.29 billion. During the same period in the prior year, the business earned $9.65 EPS. The firm’s quarterly revenue was down 15.4% on a year-over-year basis. As a group, sell-side analysts predict that Deere & Company will post 25.61 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 8th. Shareholders of record on Friday, June 28th will be paid a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date is Friday, June 28th. Deere & Company’s dividend payout ratio (DPR) is presently 17.70%.

Analyst Ratings Changes

A number of brokerages have weighed in on DE. Stifel Nicolaus upped their price objective on shares of Deere & Company from $425.00 to $450.00 and gave the stock a “buy” rating in a research report on Friday, May 17th. Truist Financial began coverage on Deere & Company in a research report on Thursday, March 14th. They set a “buy” rating and a $494.00 price target on the stock. Oppenheimer reissued an “outperform” rating and issued a $456.00 price objective on shares of Deere & Company in a report on Thursday, May 16th. DA Davidson reduced their target price on Deere & Company from $483.00 to $465.00 and set a “buy” rating for the company in a research note on Monday, May 20th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Deere & Company from $425.00 to $385.00 and set a “neutral” rating on the stock in a research note on Friday, May 17th. Eleven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $430.55.

Insider Buying and Selling at Deere & Company

In other news, insider Cory J. Reed sold 13,370 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The shares were 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 in the company, valued at approximately $15,725,268.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.26% of the stock is currently owned by company insiders.

Deere & Company Company Profile

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.