Virtu Financial LLC Invests $3.79 Million in Deere & Company (NYSE:DE)

Virtu Financial LLC purchased a new stake in Deere & Company (NYSE:DE) in the second quarter, HoldingsChannel reports. The firm purchased 10,143 shares of the industrial products company’s stock, valued at approximately $3,790,000.

A number of other large investors have also added to or reduced their stakes in the stock. True Wealth Design LLC increased its position in shares of Deere & Company by 1,180.0% in the fourth quarter. True Wealth Design LLC now owns 64 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 59 shares during the period. Pineridge Advisors LLC boosted its stake in Deere & Company by 725.0% in the first quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock valued at $27,000 after buying an additional 58 shares in the last quarter. Livelsberger Financial Advisory acquired a new position in Deere & Company during the fourth quarter worth about $30,000. Spartan Planning & Wealth Management acquired a new stake in shares of Deere & Company in the 4th quarter valued at approximately $33,000. Finally, Core Wealth Advisors Inc. grew its holdings in shares of Deere & Company by 466.7% during the 4th quarter. Core Wealth Advisors Inc. now owns 85 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 70 shares during the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Insider Activity at Deere & Company

In other news, insider Cory J. Reed sold 13,370 shares of Deere & Company stock in a transaction on Monday, June 24th. The stock was sold at an average price of $377.63, for a total transaction of $5,048,913.10. Following the sale, the insider now directly owns 41,642 shares in the company, valued at approximately $15,725,268.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.26% of the stock is currently owned by company insiders.

Deere & Company Trading Down 0.0 %

NYSE DE opened at $394.66 on Tuesday. The company has a current ratio of 2.07, a quick ratio of 1.87 and a debt-to-equity ratio of 1.85. The business has a fifty day simple moving average of $372.50 and a 200 day simple moving average of $381.84. Deere & Company has a 12 month low of $340.20 and a 12 month high of $417.46. The firm has a market capitalization of $108.76 billion, a P/E ratio of 11.88, a PEG ratio of 1.29 and a beta of 0.92.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, beating the consensus estimate of $5.63 by $0.66. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The company had revenue of $11.39 billion during the quarter, compared to the consensus estimate of $10.94 billion. During the same quarter in the prior year, the company posted $10.20 earnings per share. The firm’s revenue for the quarter was down 20.3% on a year-over-year basis. On average, analysts predict that Deere & Company will post 25.07 EPS for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Monday, September 30th will be paid a $1.47 dividend. The ex-dividend date is Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.49%. Deere & Company’s payout ratio is presently 17.70%.

Analysts Set New Price Targets

Several brokerages recently commented on DE. Oppenheimer dropped their price objective on shares of Deere & Company from $465.00 to $448.00 and set an “outperform” rating for the company in a research note on Monday, July 22nd. BMO Capital Markets assumed coverage on Deere & Company in a research report on Friday, August 9th. They set a “market perform” rating and a $400.00 price objective on the stock. Deutsche Bank Aktiengesellschaft reduced their price target on Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a report on Thursday, August 8th. Truist Financial reissued a “buy” rating and set a $443.00 target price (up from $439.00) on shares of Deere & Company in a report on Friday, August 16th. Finally, HSBC downgraded shares of Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday, August 19th. Fourteen analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $409.88.

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.