Deere & Company (NYSE:DE) Stock Position Lowered by Soltis Investment Advisors LLC

Soltis Investment Advisors LLC lowered its position in shares of Deere & Company (NYSE:DE) by 19.0% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 487 shares of the industrial products company’s stock after selling 114 shares during the quarter. Soltis Investment Advisors LLC’s holdings in Deere & Company were worth $200,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of DE. True Wealth Design LLC boosted its stake 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 worth $26,000 after acquiring an additional 59 shares in the last quarter. Pineridge Advisors LLC boosted its position in shares of Deere & Company by 725.0% in the 1st quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 58 shares during the period. Rakuten Securities Inc. purchased a new position in Deere & Company in the 4th quarter worth about $28,000. Naples Money Management LLC acquired a new stake in Deere & Company during the 4th quarter worth about $29,000. Finally, Private Wealth Management Group LLC purchased a new stake in Deere & Company during the fourth quarter valued at about $29,000. Institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Down 1.2 %

Shares of NYSE DE traded down $4.16 during mid-day trading on Friday, reaching $353.75. 2,820,703 shares of the company traded hands, compared to its average volume of 1,566,937. The company’s fifty day moving average is $370.86 and its two-hundred day moving average is $382.93. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.80 and a current ratio of 2.01. Deere & Company has a fifty-two week low of $345.93 and a fifty-two week high of $441.46. The stock has a market cap of $97.48 billion, a PE ratio of 10.65, a price-to-earnings-growth ratio of 1.59 and a beta of 0.93.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, May 16th. The industrial products company reported $8.53 EPS for the quarter, beating the consensus estimate of $7.86 by $0.67. Deere & Company had a return on equity of 42.26% and a net margin of 16.15%. The company had revenue of $13.61 billion for the quarter, compared to the consensus estimate of $13.29 billion. During the same quarter last year, the company posted $9.65 earnings per share. The company’s revenue for the quarter was down 15.4% compared to the same quarter last year. On average, analysts expect that Deere & Company will post 25.41 earnings per share for the current year.

Deere & Company Dividend Announcement

The company 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 dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date is Friday, June 28th. Deere & Company’s dividend payout ratio is 17.70%.

Insider Buying and Selling at Deere & Company

In other Deere & Company news, insider Cory J. Reed sold 13,370 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $377.63, for a total value of $5,048,913.10. Following the sale, the insider now owns 41,642 shares of the company’s stock, valued at approximately $15,725,268.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on DE. Daiwa Capital Markets boosted their price target 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 target price on shares of Deere & Company from $430.00 to $450.00 in a research note on Wednesday, May 15th. Stifel Nicolaus raised their target price on Deere & Company from $425.00 to $450.00 and gave the stock a “buy” rating in a research report on Friday, May 17th. Truist Financial dropped their price target on Deere & Company from $460.00 to $439.00 and set a “buy” rating on the stock in a research report on Tuesday, July 2nd. Finally, Raymond James started coverage on Deere & Company in a research report on Friday, June 28th. They set an “outperform” rating and a $420.00 price objective for the company. Eleven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, Deere & Company currently has an average rating of “Hold” and an average target price of $426.71.

Deere & Company Profile

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.