Y.D. More Investments Ltd Sells 1,290 Shares of Deere & Company $DE

Y.D. More Investments Ltd cut its holdings in Deere & Company (NYSE:DE) by 16.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,731 shares of the industrial products company’s stock after selling 1,290 shares during the quarter. Y.D. More Investments Ltd’s holdings in Deere & Company were worth $3,792,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Deere & Company by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 22,583,185 shares of the industrial products company’s stock valued at $10,514,053,000 after acquiring an additional 198,332 shares during the period. State Street Corp grew its stake in shares of Deere & Company by 0.9% in the 4th quarter. State Street Corp now owns 10,485,949 shares of the industrial products company’s stock valued at $4,898,717,000 after buying an additional 97,049 shares during the period. Capital World Investors increased its position in Deere & Company by 53.9% in the 4th quarter. Capital World Investors now owns 9,592,004 shares of the industrial products company’s stock valued at $4,465,906,000 after buying an additional 3,358,264 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in Deere & Company by 2.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,692,877 shares of the industrial products company’s stock valued at $3,581,574,000 after buying an additional 158,584 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in Deere & Company by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 5,600,552 shares of the industrial products company’s stock worth $2,609,149,000 after buying an additional 17,269 shares during the period. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Stock Up 0.1%

DE stock opened at $587.36 on Monday. The firm has a market capitalization of $158.55 billion, a PE ratio of 33.28, a P/E/G ratio of 2.17 and a beta of 0.89. The company has a quick ratio of 1.95, a current ratio of 2.18 and a debt-to-equity ratio of 1.54. Deere & Company has a twelve month low of $433.00 and a twelve month high of $674.19. The stock’s 50 day moving average is $581.74 and its 200-day moving average is $567.68.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, May 21st. The industrial products company reported $6.55 EPS for the quarter, beating analysts’ consensus estimates of $5.70 by $0.85. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.The business had revenue of $13.37 billion during the quarter, compared to analyst estimates of $11.55 billion. During the same period in the prior year, the firm posted $6.64 EPS. Deere & Company’s quarterly revenue was up 5.4% compared to the same quarter last year. Sell-side analysts expect that Deere & Company will post 18.13 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Tuesday, June 30th will be issued a $1.62 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.1%. Deere & Company’s dividend payout ratio is currently 36.71%.

Deere & Company News Roundup

Here are the key news stories impacting Deere & Company this week:

• Positive Sentiment: D.A. Davidson’s new coverage on AGCO highlighted that weak farm conditions can still support equipment makers like Deere, reinforcing the view that replacement demand and pricing power may hold up better than expected for agricultural OEMs. Farming Is Terrible Right Now. That’s Good for Deere and AGCO Stocks.
• Positive Sentiment: Jim Cramer was upbeat on Deere, calling the stock “incredible” and suggesting it still has room to go higher, which may help sentiment around the shares. Jim Cramer on Deere & Company: “The Stock Is Incredible, and It’s Not Done Going Higher”
• Neutral Sentiment: An analyst report on Deere was published, but no clear thesis or rating details were provided in the feed, so it is likely a limited near-term catalyst. Analyst Report: Deere & Co
• Negative Sentiment: Deere settled a right-to-repair dispute with the FTC, requiring it to provide farmers and independent repair providers the same repair resources as authorized dealers for 10 years. Investors may see this as a hit to Deere’s control over service revenue and after-sales economics. Deere settles right to repair dispute with FTC

Analysts Set New Price Targets

Several research analysts have issued reports on DE shares. Weiss Ratings upgraded Deere & Company from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, May 21st. Bank of America lowered their target price on Deere & Company from $672.00 to $607.50 and set a “neutral” rating on the stock in a research report on Friday, May 22nd. Truist Financial increased their target price on Deere & Company from $759.00 to $812.00 and gave the stock a “buy” rating in a report on Thursday, July 2nd. JPMorgan Chase & Co. boosted their price target on shares of Deere & Company from $560.00 to $590.00 and gave the company a “neutral” rating in a research note on Thursday, June 4th. Finally, Robert W. Baird lowered their price objective on shares of Deere & Company from $580.00 to $525.00 and set a “neutral” rating on the stock in a report on Friday, May 22nd. Fourteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $642.23.

About Deere & Company

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.