Greenwood Capital Associates LLC Sells 2,661 Shares of Deere & Company $DE

Key Points

• Greenwood Capital Associates LLC cut its Deere stake by 22.8% in the first quarter, selling 2,661 shares and leaving it with 8,986 shares worth about $5.06 million.
• Deere recently benefited from a settlement in a right-to-repair antitrust dispute, which removes a major legal uncertainty, though it may also pressure the company’s control over servicing and aftermarket profits.
• Deere posted better-than-expected quarterly results, with EPS of $6.55 and revenue of $13.37 billion, while analysts still view the stock as a Moderate Buy with a consensus price target of $642.23.

Greenwood Capital Associates LLC reduced its holdings in Deere & Company (NYSE:DE - Free Report) by 22.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 8,986 shares of the industrial products company's stock after selling 2,661 shares during the quarter. Greenwood Capital Associates LLC's holdings in Deere & Company were worth $5,062,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in DE. Cary Street Partners Financial LLC increased its holdings in shares of Deere & Company by 11.8% during the 4th quarter. Cary Street Partners Financial LLC now owns 10,312 shares of the industrial products company's stock worth $4,801,000 after purchasing an additional 1,086 shares during the period. Spectrum Financial Alliance Ltd LLC raised its position in shares of Deere & Company by 55.8% during the fourth quarter. Spectrum Financial Alliance Ltd LLC now owns 85,351 shares of the industrial products company's stock valued at $39,737,000 after buying an additional 30,553 shares during the last quarter. Westpac Banking Corp lifted its stake in shares of Deere & Company by 78.6% in the fourth quarter. Westpac Banking Corp now owns 6,925 shares of the industrial products company's stock valued at $3,224,000 after buying an additional 3,047 shares during the period. Eldred Rock Partners LLC bought a new stake in shares of Deere & Company in the fourth quarter valued at about $13,166,000. Finally, Natixis Advisors LLC grew its position in Deere & Company by 13.4% during the fourth quarter. Natixis Advisors LLC now owns 388,595 shares of the industrial products company's stock worth $180,919,000 after buying an additional 45,782 shares in the last quarter. 68.58% of the stock is currently owned by institutional investors.

More Deere & Company News

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

• Positive Sentiment: The settlement removes a major legal overhang and uncertainty tied to Deere’s right-to-repair antitrust dispute. WI DOJ announces settlement in antitrust lawsuit against Deere & Company
• Positive Sentiment: Deere said the agreement reinforces its commitment to diagnostic and repair tools for farmers, which may help limit further regulatory pressure and support customer relationships. John Deere Reinforces Commitment to Diagnostic and Repair Tools for Farmers Under Agreement with FTC and States
• Neutral Sentiment: Investors are also still watching Deere’s broader fundamentals, including softer large-agriculture demand and a valuation that has already recovered significantly from earlier lows. Deere Falls as Investors Revisit Large-Ag Weakness and Valuation Risk
• Negative Sentiment: The right-to-repair deal may pressure Deere’s control over equipment servicing and could narrow profit opportunities in its high-margin aftermarket ecosystem over time. Settlement announced in Deere antitrust lawsuit

Analyst Ratings Changes

Several equities analysts recently issued reports on DE shares. Citigroup lowered their price target on Deere & Company from $625.00 to $595.00 and set a "neutral" rating on the stock in a research note on Friday, May 22nd. DA Davidson decreased their price objective on Deere & Company from $775.00 to $685.00 and set a "buy" rating on the stock in a report on Friday, May 22nd. Weiss Ratings upgraded Deere & Company from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, May 21st. Jefferies Financial Group upgraded Deere & Company from an "underperform" rating to a "hold" rating and set a $550.00 price objective on the stock in a research report on Wednesday, April 8th. Finally, Wall Street Zen upgraded Deere & Company from a "sell" rating to a "hold" rating in a research note on Sunday. Fourteen investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, Deere & Company has a consensus rating of "Moderate Buy" and a consensus price target of $642.23.

Deere & Company Stock Performance

NYSE:DE opened at $596.64 on Thursday. Deere & Company has a 12-month low of $433.00 and a 12-month high of $674.19. 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 firm has a market capitalization of $161.06 billion, a PE ratio of 33.80, a price-to-earnings-growth ratio of 2.23 and a beta of 0.89. The firm has a 50-day moving average price of $580.63 and a 200 day moving average price of $565.99.

Deere & Company (NYSE:DE - Get Free Report) last issued its earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $11.55 billion. During the same quarter last year, the firm earned $6.64 EPS. The company's revenue for the quarter was up 5.4% on a year-over-year basis. Research analysts anticipate that Deere & Company will post 18.13 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

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