NewEdge Advisors LLC Has $21.90 Million Stake in Deere & Company $DE

Key Points

• NewEdge Advisors reduced its Deere & Company position by 46.9% in the first quarter, selling 34,382 shares and retaining 38,873 shares valued at approximately $21.9 million. Institutional investors own 68.58% of Deere stock.
• Deere reported quarterly revenue of $13.37 billion and EPS of $6.55, exceeding analyst estimates of $11.55 billion and $5.70, respectively. Revenue increased 5.4% year over year.
• The company declared a quarterly dividend of $1.62 per share, equivalent to an annualized $6.48 dividend and a 1.0% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $642.98.

NewEdge Advisors LLC lowered its position in Deere & Company (NYSE:DE - Free Report) by 46.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 38,873 shares of the industrial products company's stock after selling 34,382 shares during the period. NewEdge Advisors LLC's holdings in Deere & Company were worth $21,897,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Anchyra Partners LLC increased its stake in Deere & Company by 0.5% in the 1st quarter. Anchyra Partners LLC now owns 3,191 shares of the industrial products company's stock valued at $1,797,000 after buying an additional 17 shares during the period. William B. Walkup & Associates Inc. lifted its stake in shares of Deere & Company by 0.6% in the 1st quarter. William B. Walkup & Associates Inc. now owns 2,908 shares of the industrial products company's stock worth $1,638,000 after acquiring an additional 17 shares during the period. Advisortrust Partners LLC lifted its stake in shares of Deere & Company by 2.0% in the 1st quarter. Advisortrust Partners LLC now owns 914 shares of the industrial products company's stock worth $515,000 after acquiring an additional 18 shares during the period. Cerro Pacific Wealth Advisors LLC boosted its holdings in shares of Deere & Company by 0.6% in the fourth quarter. Cerro Pacific Wealth Advisors LLC now owns 3,179 shares of the industrial products company's stock valued at $1,480,000 after acquiring an additional 19 shares in the last quarter. Finally, Hazlett Burt & Watson Inc. increased its stake in shares of 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 acquiring an additional 19 shares during the period. 68.58% of the stock is currently owned by institutional investors.

Deere & Company Stock Up 1.2%

DE stock opened at $622.04 on Friday. The company has a market cap of $167.91 billion, a P/E ratio of 35.24, a P/E/G ratio of 2.60 and a beta of 0.90. 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 $599.58 and its 200 day moving average price is $584.43. The company has a current ratio of 2.18, a quick ratio of 1.95 and a debt-to-equity ratio of 1.54.

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 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 during the quarter, compared to analysts' expectations of $11.55 billion. During the same period last year, the company posted $6.64 earnings per share. The firm's quarterly revenue was up 5.4% compared to the same quarter last year. On average, research analysts expect that Deere & Company will post 18.26 earnings per share 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. Investors of record on Tuesday, June 30th will be issued a dividend of $1.62 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $6.48 annualized dividend and a yield of 1.0%. Deere & Company's payout ratio is currently 36.71%.

Analysts Set New Price Targets

Several research firms recently issued reports on DE. Truist Financial increased their price target on shares of Deere & Company from $759.00 to $812.00 and gave the stock a "buy" rating in a report on Thursday, July 2nd. Citigroup boosted their target price on Deere & Company from $575.00 to $610.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 14th. Bank of America cut their target price 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. 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 report on Thursday, June 4th. Finally, Weiss Ratings upgraded 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 issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $642.98.

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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