Entropy Technologies LP Has $2.77 Million Stock Holdings in Deere & Company $DE

Key Points

• Entropy Technologies LP cut its Deere & Company stake by 70% in the fourth quarter, selling 13,881 shares and ending with 5,942 shares valued at about $2.77 million.
• Deere reported strong quarterly results, with EPS of $6.55 beating estimates and revenue of $13.37 billion coming in above expectations, while revenue rose 5.4% year over year.
• The company declared a quarterly dividend of $1.62 per share, and Wall Street currently has a Moderate Buy consensus on DE with a target price of $639.58.

Entropy Technologies LP cut its position in Deere & Company (NYSE:DE - Free Report) by 70.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,942 shares of the industrial products company's stock after selling 13,881 shares during the period. Entropy Technologies LP's holdings in Deere & Company were worth $2,766,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in DE. Brighton Jones LLC grew its stake in shares of Deere & Company by 39.1% in the 4th quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company's stock valued at $1,927,000 after buying an additional 1,278 shares during the period. Schnieders Capital Management LLC. grew its stake in shares of Deere & Company by 7.8% in the 2nd quarter. Schnieders Capital Management LLC. now owns 2,076 shares of the industrial products company's stock valued at $1,056,000 after buying an additional 150 shares during the period. Jump Financial LLC acquired a new stake in shares of Deere & Company in the 2nd quarter valued at about $2,153,000. NewEdge Advisors LLC boosted its stake in Deere & Company by 6.0% during the 2nd quarter. NewEdge Advisors LLC now owns 18,758 shares of the industrial products company's stock valued at $9,538,000 after purchasing an additional 1,067 shares during the last quarter. Finally, Main Street Financial Solutions LLC boosted its stake in Deere & Company by 6.7% during the 2nd quarter. Main Street Financial Solutions LLC now owns 1,551 shares of the industrial products company's stock valued at $789,000 after purchasing an additional 97 shares during the last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Price Performance

Deere & Company stock opened at $577.05 on Monday. Deere & Company has a 52 week low of $433.00 and a 52 week high of $674.19. The company's 50 day moving average price is $573.27 and its two-hundred day moving average price is $549.31. The company has a quick ratio of 1.95, a current ratio of 2.18 and a debt-to-equity ratio of 1.54. The stock has a market cap of $155.77 billion, a P/E ratio of 32.69, a P/E/G ratio of 2.14 and a beta of 0.92.

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

Deere & Company Announces Dividend

The company also recently announced 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. This represents a $6.48 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Tuesday, June 30th. Deere & Company's dividend payout ratio (DPR) is currently 36.71%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on DE shares. JPMorgan Chase & Co. lifted 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. Bank of America cut their price target on Deere & Company from $672.00 to $607.50 and set a "neutral" rating for the company in a research note on Friday, May 22nd. Weiss Ratings upgraded Deere & Company from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday, May 21st. Truist Financial cut 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, Wolfe Research lifted their price target on Deere & Company from $550.00 to $660.00 and gave the company an "outperform" rating in a research note on Tuesday, March 31st. Fourteen investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $639.58.

About Deere & Company

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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