Deere & Company $DE Shares Sold by CORDA Investment Management LLC.

Key Points

• CORDA Investment Management trimmed its Deere stake by 4.2% in the first quarter, selling 3,968 shares and leaving it with 90,016 shares valued at about $50.7 million.
• Deere recently posted strong quarterly results, beating EPS and revenue estimates, with earnings of $6.55 per share on $13.37 billion in revenue and revenue up 5.4% year over year.
• Analysts remain broadly positive: Deere has a Moderate Buy consensus rating, though several firms cut their price targets even as others raised theirs; the average target is $642.23.

CORDA Investment Management LLC. lowered its stake in shares of Deere & Company (NYSE:DE - Free Report) by 4.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 90,016 shares of the industrial products company's stock after selling 3,968 shares during the period. Deere & Company makes up approximately 3.5% of CORDA Investment Management LLC.'s portfolio, making the stock its 7th biggest holding. CORDA Investment Management LLC.'s holdings in Deere & Company were worth $50,706,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in DE. Strategic Advocates LLC acquired a new stake in shares of Deere & Company during the 3rd quarter worth $25,000. Key Capital Management INC acquired a new position in Deere & Company in the fourth quarter valued at $27,000. Timmons Wealth Management LLC purchased a new stake in Deere & Company during the fourth quarter valued at about $29,000. McIlrath & Eck LLC purchased a new stake in Deere & Company during the fourth quarter valued at about $30,000. Finally, Portus Wealth Advisors LLC acquired a new stake in Deere & Company during the first quarter worth about $32,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on DE. Bank of America cut their price objective on Deere & Company from $672.00 to $607.50 and set a "neutral" rating on the stock in a report on Friday, May 22nd. Citigroup dropped their target price on shares of Deere & Company from $625.00 to $595.00 and set a "neutral" rating for the company in a research report on Friday, May 22nd. Robert W. Baird cut their price target on shares of Deere & Company from $580.00 to $525.00 and set a "neutral" rating on the stock in a report on Friday, May 22nd. Wolfe Research lifted their price target on shares of Deere & Company from $550.00 to $660.00 and gave the company an "outperform" rating in a research report on Tuesday, March 31st. Finally, Truist Financial boosted their price objective on shares of Deere & Company from $759.00 to $812.00 and gave the stock a "buy" rating in a research note on Thursday, July 2nd. Fourteen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. According to MarketBeat, Deere & Company has a consensus rating of "Moderate Buy" and an average price target of $642.23.

Deere & Company News Roundup

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 Price Performance

Shares of NYSE 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 business has a 50-day moving average of $581.74 and a 200-day moving average of $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. The company has a market capitalization of $158.55 billion, a price-to-earnings ratio of 33.28, a PEG ratio of 2.17 and a beta of 0.89.

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

Deere & Company Dividend Announcement

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