Thrive Wealth Management LLC Acquires Shares of 530 Deere & Company (NYSE:DE)

Thrive Wealth Management LLC acquired a new position in shares of Deere & Company (NYSE:DE) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 530 shares of the industrial products company’s stock, valued at approximately $218,000.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Morgan Stanley boosted its position in Deere & Company by 1.3% in the 3rd quarter. Morgan Stanley now owns 5,089,159 shares of the industrial products company’s stock valued at $1,920,548,000 after buying an additional 65,006 shares during the last quarter. Parnassus Investments LLC grew its stake in Deere & Company by 22.4% during the 4th quarter. Parnassus Investments LLC now owns 3,856,171 shares of the industrial products company’s stock valued at $1,541,967,000 after purchasing an additional 705,771 shares in the last quarter. Norges Bank acquired a new stake in Deere & Company during the 4th quarter valued at approximately $1,248,036,000. Dimensional Fund Advisors LP increased its holdings in Deere & Company by 11.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,595,945 shares of the industrial products company’s stock worth $638,167,000 after purchasing an additional 160,369 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Deere & Company by 2.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,570,773 shares of the industrial products company’s stock valued at $628,105,000 after purchasing an additional 31,074 shares in the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Insider Transactions at Deere & Company

In other news, insider Cory J. Reed sold 13,370 shares of the business’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $377.63, for a total value of $5,048,913.10. Following the completion of the sale, the insider now directly owns 41,642 shares in the company, valued at $15,725,268.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.26% of the stock is currently owned by company insiders.

Deere & Company Stock Up 0.1 %

Shares of Deere & Company stock traded up $0.45 during midday trading on Thursday, hitting $376.70. The company’s stock had a trading volume of 1,709,064 shares, compared to its average volume of 1,476,998. The stock has a 50-day simple moving average of $386.34 and a 200-day simple moving average of $387.01. The firm has a market capitalization of $103.81 billion, a P/E ratio of 11.34, a PEG ratio of 1.48 and a beta of 0.98. The company has a quick ratio of 1.80, a current ratio of 2.01 and a debt-to-equity ratio of 1.81. Deere & Company has a 1-year low of $353.15 and a 1-year high of $450.00.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, May 16th. The industrial products company reported $8.53 EPS for the quarter, beating analysts’ consensus estimates of $7.86 by $0.67. The firm had revenue of $13.61 billion for the quarter, compared to the consensus estimate of $13.29 billion. Deere & Company had a net margin of 16.15% and a return on equity of 42.26%. The firm’s revenue was down 15.4% on a year-over-year basis. During the same period in the previous year, the firm posted $9.65 earnings per share. As a group, sell-side analysts expect that Deere & Company will post 25.61 earnings per share for the current year.

Deere & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 8th. Shareholders of record on Friday, June 28th will be given a $1.47 dividend. This represents a $5.88 annualized dividend and a yield of 1.56%. The ex-dividend date is Friday, June 28th. Deere & Company’s dividend payout ratio is 17.70%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on DE shares. TD Cowen lifted their price target on shares of Deere & Company from $383.00 to $390.00 and gave the stock a “hold” rating in a research note on Friday, May 17th. Stifel Nicolaus raised their price objective on Deere & Company from $425.00 to $450.00 and gave the stock a “buy” rating in a research note on Friday, May 17th. Truist Financial began coverage on Deere & Company in a report on Thursday, March 14th. They issued a “buy” rating and a $494.00 price target on the stock. Citigroup started coverage on Deere & Company in a research note on Wednesday. They set a “neutral” rating and a $395.00 price target for the company. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $456.00 target price on shares of Deere & Company in a research note on Thursday, May 16th. Eleven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $431.14.

About Deere & Company

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.