July 24, 2024
1832 Asset Management L.P. Trims Holdings in Deere & Company (NYSE:DE)

Gilman Hill Asset Management LLC trimmed its stake in shares of Deere & Company (NYSE:DE – Free Report) by 4.9% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,772 shares of the industrial products company’s stock after selling 143 shares during the period. Gilman Hill Asset Management LLC’s holdings in Deere & Company were worth $1,139,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. True Wealth Design LLC raised its position in shares of Deere & Company by 1,180.0% during the 4th quarter. True Wealth Design LLC now owns 64 shares of the industrial products company’s stock valued at $26,000 after buying an additional 59 shares in the last quarter. Rakuten Securities Inc. bought a new position in shares of Deere & Company during the 4th quarter valued at approximately $28,000. Naples Money Management LLC purchased a new stake in Deere & Company during the 4th quarter valued at $29,000. Private Wealth Management Group LLC bought a new stake in Deere & Company in the fourth quarter worth $29,000. Finally, Bfsg LLC purchased a new position in Deere & Company during the fourth quarter worth $30,000. 68.58% of the stock is currently owned by institutional investors.

Deere & Company Price Performance

Shares of DE stock opened at $369.46 on Wednesday. The firm has a market capitalization of $101.81 billion, a price-to-earnings ratio of 11.12, a PEG ratio of 1.52 and a beta of 0.98. 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 stock’s 50-day simple moving average is $386.75 and its 200-day simple moving average is $387.08. Deere & Company has a fifty-two week low of $353.15 and a fifty-two week high of $450.00.

Deere & Company (NYSE:DE – Get Free Report) last issued its quarterly 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 business had revenue of $13.61 billion for 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%. Deere & Company’s revenue for the quarter was down 15.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $9.65 EPS. As a group, equities analysts forecast that Deere & Company will post 25.61 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 8th. Stockholders of record on Friday, June 28th will be paid a $1.47 dividend. This represents a $5.88 annualized dividend and a dividend yield of 1.59%. The ex-dividend date of this dividend is Friday, June 28th. Deere & Company’s payout ratio is 17.70%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on DE shares. Oppenheimer reaffirmed an “outperform” rating and set a $456.00 price target on shares of Deere & Company in a research note on Thursday, May 16th. DA Davidson dropped their price objective on Deere & Company from $483.00 to $465.00 and set a “buy” rating for the company in a report on Monday, May 20th. Daiwa Capital Markets lifted their price objective on shares of Deere & Company from $400.00 to $420.00 and gave the company an “overweight” rating in a report on Wednesday, May 15th. Morgan Stanley boosted their price objective on shares of Deere & Company from $430.00 to $450.00 in a research report on Wednesday, May 15th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Deere & Company from $425.00 to $385.00 and set a “neutral” rating on the stock in a research report on Friday, May 17th. Ten investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $433.36.

View Our Latest Analysis on DE

Insider Activity at Deere & Company

In related news, insider Cory J. Reed sold 13,370 shares of the firm’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 transaction, the insider now owns 41,642 shares of the company’s stock, valued at $15,725,268.46. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.26% of the stock is owned by insiders.

Deere & Company Profile

(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.

Further Reading

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

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