Saxon Interests Inc. Lowers Stake in Deere & Company (NYSE:DE)

Saxon Interests Inc. lowered its position in shares of Deere & Company (NYSE:DE) by 3.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,292 shares of the industrial products company’s stock after selling 41 shares during the quarter. Saxon Interests Inc.’s holdings in Deere & Company were worth $531,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. True Wealth Design LLC lifted its holdings in Deere & Company by 1,180.0% during the fourth quarter. True Wealth Design LLC now owns 64 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 59 shares in the last quarter. Rakuten Securities Inc. bought a new stake in shares of Deere & Company during the fourth quarter valued at approximately $28,000. Naples Money Management LLC bought a new stake in shares of Deere & Company during the fourth quarter valued at approximately $29,000. Private Wealth Management Group LLC bought a new stake in shares of Deere & Company during the fourth quarter valued at approximately $29,000. Finally, Bfsg LLC bought a new stake in shares of Deere & Company during the fourth quarter valued at approximately $30,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Insider Activity

In other news, insider Cory J. Reed sold 13,370 shares of the business’s stock in a transaction 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 directly owns 41,642 shares of the company’s stock, valued at $15,725,268.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on DE shares. Truist Financial reduced their price objective on shares of Deere & Company from $460.00 to $439.00 and set a “buy” rating on the stock in a research report on Tuesday. TD Cowen lifted their price objective on shares of Deere & Company from $383.00 to $390.00 and gave the company a “hold” rating in a research report on Friday, May 17th. Citigroup started coverage on shares of Deere & Company in a research report on Wednesday, June 26th. They set a “neutral” rating and a $395.00 price objective on the stock. Oppenheimer reiterated an “outperform” rating and set a $456.00 price objective on shares of Deere & Company in a research report on Thursday, May 16th. Finally, Morgan Stanley boosted their price target on shares of Deere & Company from $430.00 to $450.00 in a research report on Wednesday, May 15th. Eleven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $427.66.

Deere & Company Trading Up 1.1 %

DE stock traded up $3.96 during mid-day trading on Tuesday, reaching $364.95. 1,289,817 shares of the stock traded hands, compared to its average volume of 1,516,737. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.80 and a current ratio of 2.01. Deere & Company has a one year low of $353.15 and a one year high of $450.00. The stock has a market capitalization of $100.57 billion, a PE ratio of 10.96, a PEG ratio of 1.50 and a beta of 0.93. The business has a 50-day moving average price of $384.54 and a two-hundred day moving average price of $387.09.

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 analysts’ consensus estimates of $7.86 by $0.67. The firm had revenue of $13.61 billion during the quarter, compared to analyst estimates of $13.29 billion. Deere & Company had a net margin of 16.15% and a return on equity of 42.26%. The business’s revenue was down 15.4% on a year-over-year basis. During the same period in the previous year, the firm earned $9.65 earnings per share. Equities research analysts expect that Deere & Company will post 25.61 EPS for the current year.

Deere & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 8th. Stockholders 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 dividend yield of 1.61%. The ex-dividend date of this dividend is Friday, June 28th. Deere & Company’s dividend payout ratio 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.