Northeast Investment Management Cuts Stock Holdings in Deere & Company $DE

Northeast Investment Management decreased its position in Deere & Company (NYSE:DE) by 2.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,311 shares of the industrial products company’s stock after selling 1,003 shares during the quarter. Northeast Investment Management’s holdings in Deere & Company were worth $21,017,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in DE. Strategic Advocates LLC purchased a new stake in Deere & Company in the 3rd quarter valued at about $25,000. Key Capital Management INC bought a new position in shares of Deere & Company in the fourth quarter valued at approximately $27,000. Timmons Wealth Management LLC purchased a new stake in shares of Deere & Company during the fourth quarter valued at approximately $29,000. McIlrath & Eck LLC bought a new stake in Deere & Company during the fourth quarter worth $30,000. Finally, Wealth Watch Advisors INC purchased a new position in Deere & Company in the third quarter worth $32,000. 68.58% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on DE shares. Barclays lifted their target price on Deere & Company from $530.00 to $640.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 31st. Wolfe Research raised their price objective on shares of Deere & Company from $550.00 to $660.00 and gave the stock an “outperform” rating in a report on Tuesday, March 31st. JPMorgan Chase & Co. lifted their price objective on shares of Deere & Company from $560.00 to $590.00 and gave the stock a “neutral” rating in a research report on Thursday, June 4th. Jefferies Financial Group raised shares of Deere & Company from an “underperform” rating to a “hold” rating and set a $550.00 target price for the company in a research report on Wednesday, April 8th. Finally, Truist Financial decreased their price target on shares of Deere & Company from $793.00 to $759.00 and set a “buy” rating for the company in a research note on Tuesday, May 26th. Fourteen research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $639.58.

Deere & Company Stock Up 5.1%

DE stock opened at $631.45 on Friday. The stock has a fifty day moving average of $573.78 and a 200-day moving average of $556.89. 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 capitalization of $170.45 billion, a price-to-earnings ratio of 35.78, a PEG ratio of 2.22 and a beta of 0.92. 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 announced its quarterly earnings data on Thursday, May 21st. The industrial products company reported $6.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.70 by $0.85. The business had revenue of $13.37 billion for the quarter, compared to analysts’ expectations of $11.55 billion. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period in the previous year, the business posted $6.64 EPS. As a group, equities research analysts predict that Deere & Company will post 18.13 earnings per share for the current year.

Deere & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Tuesday, June 30th will be given a $1.62 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.0%. Deere & Company’s payout ratio is 36.71%.

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.