Absher Wealth Management LLC Sells 4,426 Shares of Deere & Company $DE

Absher Wealth Management LLC reduced its holdings in Deere & Company (NYSE:DE - Free Report) by 7.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 56,766 shares of the industrial products company's stock after selling 4,426 shares during the quarter. Deere & Company comprises 3.7% of Absher Wealth Management LLC's investment portfolio, making the stock its 11th largest position. Absher Wealth Management LLC's holdings in Deere & Company were worth $31,976,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of DE. Strategic Advocates LLC purchased a new stake in Deere & Company during the 3rd quarter valued at $25,000. Portus Wealth Advisors LLC purchased a new stake in Deere & Company in the first quarter worth approximately $32,000. Key Capital Management INC bought a new stake in Deere & Company in the 4th quarter worth approximately $27,000. Timmons Wealth Management LLC bought a new position in Deere & Company in the fourth quarter valued at about $29,000. Finally, McIlrath & Eck LLC bought a new stake in shares of Deere & Company during the 4th quarter valued at $30,000. 68.58% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on DE shares. DA Davidson reduced their price target on shares of Deere & Company from $775.00 to $685.00 and set a "buy" rating on the stock in a report on Friday, May 22nd. Jefferies Financial Group upgraded shares of Deere & Company from an "underperform" rating to a "hold" rating and set a $550.00 target price on the stock in a research note on Wednesday, April 8th. JPMorgan Chase & Co. raised their price target on Deere & Company from $560.00 to $590.00 and gave the company a "neutral" rating in a research note on Thursday, June 4th. Wolfe Research upped their target price on Deere & Company from $550.00 to $660.00 and gave the stock an "outperform" rating in a report on Tuesday, March 31st. Finally, Weiss Ratings upgraded shares of Deere & Company from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday, May 21st. Fourteen analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $642.23.

Deere & Company Trading Up 0.1%

DE opened at $587.36 on Monday. Deere & Company has a 1-year low of $433.00 and a 1-year high of $674.19. The firm has a market capitalization of $158.55 billion, a price-to-earnings ratio of 33.28, a price-to-earnings-growth ratio of 2.17 and a beta of 0.89. The company's 50 day simple moving average is $581.74 and its two-hundred day simple moving average is $567.68. The company has a debt-to-equity ratio of 1.54, a current ratio of 2.18 and a quick ratio of 1.95.

Deere & Company (NYSE:DE - Get Free Report) last issued its quarterly earnings data on Thursday, May 21st. The industrial products company reported $6.55 earnings per share for the quarter, topping the consensus estimate of $5.70 by $0.85. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.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 prior year, the business posted $6.64 earnings per share. The firm's revenue for the quarter was up 5.4% compared to the same quarter last year. Analysts expect that Deere & Company will post 18.13 EPS for the current fiscal year.

Deere & Company Dividend Announcement

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

Deere & Company News Summary

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

• Positive Sentiment: D.A. Davidson’s new coverage on AGCO highlighted that weak farm conditions can still support equipment makers like Deere, reinforcing the view that replacement demand and pricing power may hold up better than expected for agricultural OEMs. Farming Is Terrible Right Now. That’s Good for Deere and AGCO Stocks.
• Positive Sentiment: Jim Cramer was upbeat on Deere, calling the stock “incredible” and suggesting it still has room to go higher, which may help sentiment around the shares. Jim Cramer on Deere & Company: “The Stock Is Incredible, and It’s Not Done Going Higher”
• Neutral Sentiment: An analyst report on Deere was published, but no clear thesis or rating details were provided in the feed, so it is likely a limited near-term catalyst. Analyst Report: Deere & Co
• Negative Sentiment: Deere settled a right-to-repair dispute with the FTC, requiring it to provide farmers and independent repair providers the same repair resources as authorized dealers for 10 years. Investors may see this as a hit to Deere’s control over service revenue and after-sales economics. Deere settles right to repair dispute with FTC

Deere & Company 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.

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