Aigen Investment Management LP Sells 4,366 Shares of Deere & Company $DE

Key Points

• Aigen Investment Management LP cut its Deere stake by 70.5% in the fourth quarter, selling 4,366 shares and ending with 1,831 shares valued at about $852,000.
• Deere recently reported strong quarterly results, with earnings of $6.55 per share and revenue of $13.37 billion, both beating analyst expectations.
• Analysts remain generally positive on the stock, with a Moderate Buy consensus and an average price target of $639.58, while Deere also declared a $1.62 quarterly dividend payable August 10.

Aigen Investment Management LP trimmed its position in Deere & Company (NYSE:DE - Free Report) by 70.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,831 shares of the industrial products company's stock after selling 4,366 shares during the period. Aigen Investment Management LP's holdings in Deere & Company were worth $852,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Cerro Pacific Wealth Advisors LLC grew its position in Deere & Company by 0.6% during the fourth quarter. Cerro Pacific Wealth Advisors LLC now owns 3,179 shares of the industrial products company's stock worth $1,480,000 after buying an additional 19 shares in the last quarter. Hazlett Burt & Watson Inc. lifted its stake in Deere & Company by 2.4% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 816 shares of the industrial products company's stock worth $379,000 after purchasing an additional 19 shares during the last quarter. Root Financial Partners LLC lifted its stake in Deere & Company by 2.2% during the fourth quarter. Root Financial Partners LLC now owns 880 shares of the industrial products company's stock worth $410,000 after purchasing an additional 19 shares during the last quarter. Verdence Capital Advisors LLC lifted its stake in Deere & Company by 2.7% during the fourth quarter. Verdence Capital Advisors LLC now owns 773 shares of the industrial products company's stock worth $360,000 after purchasing an additional 20 shares during the last quarter. Finally, Family Legacy Inc. lifted its stake in Deere & Company by 0.3% during the fourth quarter. Family Legacy Inc. now owns 7,894 shares of the industrial products company's stock worth $3,675,000 after purchasing an additional 20 shares during the last quarter. 68.58% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Weiss Ratings upgraded Deere & Company from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday, May 21st. DA Davidson dropped their price target on Deere & Company from $775.00 to $685.00 and set a "buy" rating for the company in a research note on Friday, May 22nd. Citigroup dropped their price target on Deere & Company from $625.00 to $595.00 and set a "neutral" rating for the company in a research note on Friday, May 22nd. Truist Financial dropped their price target on Deere & Company from $793.00 to $759.00 and set a "buy" rating for the company in a research note on Tuesday, May 26th. Finally, Raymond James Financial dropped their price target on Deere & Company from $765.00 to $700.00 and set an "outperform" rating for the company in a research note on Friday, May 22nd. Fourteen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, Deere & Company has an average rating of "Moderate Buy" and an average price target of $639.58.

Deere & Company Stock Performance

Shares of Deere & Company stock opened at $577.05 on Monday. The company has a current ratio of 2.18, a quick ratio of 1.95 and a debt-to-equity ratio of 1.54. The business has a 50-day moving average price of $573.27 and a two-hundred day moving average price of $549.31. Deere & Company has a 1-year low of $433.00 and a 1-year high of $674.19. The company has a market cap of $155.77 billion, a P/E ratio of 32.69, a PEG ratio of 2.14 and a beta of 0.92.

Deere & Company (NYSE:DE - Get Free Report) last issued its quarterly earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share for the quarter, topping analysts' consensus estimates of $5.70 by $0.85. The firm had revenue of $13.37 billion during the quarter, compared to the consensus estimate of $11.55 billion. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.The business's revenue was up 5.4% compared to the same quarter last year. During the same period last year, the business posted $6.64 EPS. As a group, analysts anticipate that Deere & Company will post 18.13 EPS for the current year.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Tuesday, June 30th will be paid a $1.62 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.1%. Deere & Company's dividend payout ratio (DPR) is currently 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.

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