Deere & Company (NYSE:DE) Shares Sold by Lazard Asset Management LLC

Lazard Asset Management LLC trimmed its holdings in Deere & Company (NYSE:DE) by 27.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 166,037 shares of the industrial products company’s stock after selling 63,201 shares during the period. Lazard Asset Management LLC’s holdings in Deere & Company were worth $68,197,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in DE. Pinnacle Associates Ltd. lifted its holdings in Deere & Company by 21.3% in the 4th quarter. Pinnacle Associates Ltd. now owns 5,355 shares of the industrial products company’s stock valued at $2,141,000 after purchasing an additional 939 shares in the last quarter. Harbor Investment Advisory LLC lifted its holdings in shares of Deere & Company by 27.4% during the 1st quarter. Harbor Investment Advisory LLC now owns 1,730 shares of the industrial products company’s stock worth $710,000 after acquiring an additional 372 shares during the period. Summit Asset Management LLC lifted its holdings in shares of Deere & Company by 24.1% during the 4th quarter. Summit Asset Management LLC now owns 1,030 shares of the industrial products company’s stock worth $412,000 after acquiring an additional 200 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Deere & Company by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,570,773 shares of the industrial products company’s stock worth $628,105,000 after acquiring an additional 31,074 shares during the period. Finally, Brevan Howard Capital Management LP lifted its holdings in shares of Deere & Company by 857.9% during the 4th quarter. Brevan Howard Capital Management LP now owns 7,654 shares of the industrial products company’s stock worth $3,061,000 after acquiring an additional 6,855 shares during the period. 68.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. DA Davidson cut their price objective on shares of Deere & Company from $483.00 to $465.00 and set a “buy” rating on the stock in a report on Monday, May 20th. Morgan Stanley increased their price objective on shares of Deere & Company from $430.00 to $450.00 in a report on Wednesday, May 15th. Truist Financial cut their price objective on shares of Deere & Company from $460.00 to $439.00 and set a “buy” rating on the stock in a report on Tuesday, July 2nd. TD Cowen raised their price target on shares of Deere & Company from $383.00 to $390.00 and gave the company a “hold” rating in a report on Friday, May 17th. Finally, Stifel Nicolaus raised their price target on shares of Deere & Company from $425.00 to $450.00 and gave the company a “buy” rating in a report on Friday, May 17th. Eleven analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $426.71.

Deere & Company Stock Up 1.3 %

Shares of DE stock traded up $4.86 during mid-day trading on Friday, reaching $386.55. 1,380,906 shares of the company were exchanged, compared to its average volume of 1,582,798. Deere & Company has a fifty-two week low of $345.93 and a fifty-two week high of $441.46. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.80 and a current ratio of 2.01. The company has a market capitalization of $106.52 billion, a P/E ratio of 11.64, a P/E/G ratio of 1.57 and a beta of 0.93. The business’s 50 day simple moving average is $372.59 and its 200 day simple moving average is $383.70.

Deere & Company (NYSE:DE) last released its quarterly earnings results 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. Deere & Company had a net margin of 16.15% and a return on equity of 42.26%. The business had revenue of $13.61 billion during the quarter, compared to the consensus estimate of $13.29 billion. During the same quarter last year, the company earned $9.65 earnings per share. The business’s quarterly revenue was down 15.4% compared to the same quarter last year. Research analysts predict that Deere & Company will post 25.41 earnings per share for the current year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 8th. Stockholders of record on Friday, June 28th will be given a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date is Friday, June 28th. Deere & Company’s payout ratio is currently 17.70%.

Insider Transactions 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 of the company’s stock, valued at $15,725,268.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.26% of the company’s stock.

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.