Deere & Company (NYSE:DE) Shares Sold by WD Rutherford LLC

WD Rutherford LLC decreased its position in shares of Deere & Company (NYSE:DE) by 4.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,149 shares of the industrial products company’s stock after selling 151 shares during the quarter. WD Rutherford LLC’s holdings in Deere & Company were worth $1,293,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of DE. Federated Hermes Inc. raised its position in Deere & Company by 0.6% during the third quarter. Federated Hermes Inc. now owns 19,210 shares of the industrial products company’s stock valued at $7,249,000 after acquiring an additional 124 shares in the last quarter. O Shaughnessy Asset Management LLC raised its position in Deere & Company by 30.3% during the third quarter. O Shaughnessy Asset Management LLC now owns 15,297 shares of the industrial products company’s stock valued at $5,773,000 after acquiring an additional 3,559 shares in the last quarter. Mutual Advisors LLC raised its position in Deere & Company by 3.6% during the third quarter. Mutual Advisors LLC now owns 4,783 shares of the industrial products company’s stock valued at $1,805,000 after acquiring an additional 164 shares in the last quarter. Mather Group LLC. raised its position in Deere & Company by 12.3% during the third quarter. Mather Group LLC. now owns 2,194 shares of the industrial products company’s stock valued at $828,000 after acquiring an additional 240 shares in the last quarter. Finally, Bank of Nova Scotia raised its position in Deere & Company by 2.2% during the third quarter. Bank of Nova Scotia now owns 54,660 shares of the industrial products company’s stock valued at $20,625,000 after acquiring an additional 1,199 shares in the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Insiders Place Their Bets

In other news, insider Cory J. Reed sold 13,370 shares of the company’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $377.63, for a total value of $5,048,913.10. Following the transaction, 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 filing with the SEC, which is accessible through the SEC website. 0.26% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on DE shares. Citigroup started coverage on Deere & Company in a research report on Wednesday. They set a “neutral” rating and a $395.00 price target for the company. JPMorgan Chase & Co. cut their price objective on Deere & Company from $425.00 to $385.00 and set a “neutral” rating for the company in a research report on Friday, May 17th. Morgan Stanley boosted their price objective on Deere & Company from $430.00 to $450.00 in a research report on Wednesday, May 15th. Stifel Nicolaus boosted their price objective on Deere & Company from $425.00 to $450.00 and gave the company a “buy” rating in a research report on Friday, May 17th. Finally, Daiwa Capital Markets boosted their price objective on Deere & Company from $400.00 to $420.00 and gave the company an “overweight” rating in a research report on Wednesday, May 15th. 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.com, the company presently has a consensus rating of “Hold” and an average price target of $430.55.

Deere & Company Trading Down 0.4 %

NYSE DE traded down $1.68 on Friday, reaching $373.63. 6,689,701 shares of the company were exchanged, compared to its average volume of 1,409,983. The business’s fifty day moving average price is $385.32 and its 200 day moving average price is $387.02. The stock has a market capitalization of $102.96 billion, a P/E ratio of 11.25, a price-to-earnings-growth ratio of 1.51 and a beta of 0.98. The company has a current ratio of 2.01, a quick ratio of 1.80 and a debt-to-equity ratio of 1.81. Deere & Company has a fifty-two week low of $353.15 and a fifty-two week high of $450.00.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, May 16th. The industrial products company reported $8.53 earnings per share for the quarter, topping analysts’ consensus estimates of $7.86 by $0.67. The company had revenue of $13.61 billion for the quarter, compared to analyst estimates of $13.29 billion. Deere & Company had a return on equity of 42.26% and a net margin of 16.15%. The firm’s revenue for the quarter was down 15.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $9.65 earnings per share. Analysts forecast that Deere & Company will post 25.61 earnings per share for the current year.

Deere & Company Dividend Announcement

The business also recently disclosed 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 currently 17.70%.

Deere & 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.