Bank of New York Mellon Corp Sells 80,624 Shares of Deere & Company $DE

Bank of New York Mellon Corp lowered its stake in Deere & Company (NYSE:DE) by 5.0% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,517,174 shares of the industrial products company’s stock after selling 80,624 shares during the quarter. Bank of New York Mellon Corp’s holdings in Deere & Company were worth $854,624,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Anchyra Partners LLC grew its position in shares of Deere & Company by 0.5% during the first quarter. Anchyra Partners LLC now owns 3,191 shares of the industrial products company’s stock valued at $1,797,000 after purchasing an additional 17 shares in the last quarter. William B. Walkup & Associates Inc. lifted its position in shares of Deere & Company by 0.6% in the first quarter. William B. Walkup & Associates Inc. now owns 2,908 shares of the industrial products company’s stock worth $1,638,000 after buying an additional 17 shares in the last quarter. Cerro Pacific Wealth Advisors LLC boosted its stake in Deere & Company by 0.6% during the fourth quarter. Cerro Pacific Wealth Advisors LLC now owns 3,179 shares of the industrial products company’s stock valued at $1,480,000 after buying an additional 19 shares during the last quarter. Hazlett Burt & Watson Inc. boosted its stake in Deere & Company by 2.4% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 816 shares of the industrial products company’s stock valued at $379,000 after buying an additional 19 shares during the last quarter. Finally, Root Financial Partners LLC grew its holdings in Deere & Company by 2.2% during the 4th quarter. Root Financial Partners LLC now owns 880 shares of the industrial products company’s stock valued at $410,000 after buying an additional 19 shares in the last quarter. Institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Performance

NYSE DE opened at $589.48 on Thursday. The business’s 50 day moving average price is $581.74 and its 200-day moving average price is $570.21. Deere & Company has a fifty-two week low of $433.00 and a fifty-two week high of $674.19. The company has a market cap of $159.12 billion, a P/E ratio of 33.40, a P/E/G ratio of 2.16 and a beta of 0.89. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.95 and a current ratio of 2.18.

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

Deere & Company Announces Dividend

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

Wall Street Analyst Weigh In

Several analysts have recently issued reports on DE shares. Truist Financial upped their price objective on Deere & Company from $759.00 to $812.00 and gave the stock a “buy” rating in a report on Thursday, July 2nd. Royal Bank Of Canada restated an “outperform” rating and issued a $752.00 price target on shares of Deere & Company in a research report on Monday, June 1st. Wall Street Zen raised shares of Deere & Company from a “sell” rating to a “hold” rating in a research note on Sunday, July 5th. Jefferies Financial Group upgraded shares of Deere & Company from an “underperform” rating to a “hold” rating and set a $550.00 price objective for the company in a research report on Wednesday, April 8th. Finally, Wolfe Research lifted their price objective on shares of Deere & Company from $550.00 to $660.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 31st. Fourteen investment 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 company has an average rating of “Moderate Buy” and an average price target of $642.98.

Key Headlines Impacting Deere & Company

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

• Positive Sentiment: Deere reached a settlement with the FTC over its right-to-repair case, potentially expanding repair access and improving relationships with customers. FTC reaches settlement with Deere in ‘right to repair’ suit
• Positive Sentiment: Expanded independent repair options could support Deere’s parts, service, and life-extension revenue streams, especially as aging farm fleets need more maintenance. Agricultural Machinery Components Market Report Published, Profiles Deere, CNH Industrial, AGCO, Kubota, and 11 Other Companies
• Neutral Sentiment: Several articles highlighted Deere as a stock drawing investor attention and being compared with peers such as Alamo Group on valuation, but these are mostly commentary pieces rather than new fundamental catalysts. ALG vs. DE: Which Stock Is the Better Value Option?
• Neutral Sentiment: Additional coverage focused on Deere’s popularity with investors, but did not add materially new business or earnings information. Deere & Company (DE) is Attracting Investor Attention: Here is What You Should Know
• Negative Sentiment: The right-to-repair issue also keeps attention on potential margin pressure over time if repair work shifts away from Deere-owned channels, even after the settlement. Farmers win right to repair their own John Deere equipment; could it become law?

Deere & Company Profile

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.