Schechter Investment Advisors LLC Reduces Position in Deere & Company (NYSE:DE)

Schechter Investment Advisors LLC decreased its stake in shares of Deere & Company (NYSE:DE - Free Report) by 37.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,319 shares of the industrial products company's stock after selling 1,398 shares during the period. Schechter Investment Advisors LLC's holdings in Deere & Company were worth $1,088,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in DE. Cornerstone Planning Group LLC boosted its position in shares of Deere & Company by 116.1% in the first quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company's stock worth $31,000 after purchasing an additional 36 shares during the period. Orion Capital Management LLC purchased a new stake in Deere & Company in the 4th quarter worth $34,000. Mascagni Wealth Management Inc. bought a new position in shares of Deere & Company during the 4th quarter valued at about $39,000. Dogwood Wealth Management LLC purchased a new position in shares of Deere & Company during the fourth quarter valued at about $42,000. Finally, Wood Tarver Financial Group LLC purchased a new stake in shares of Deere & Company in the fourth quarter worth about $43,000. Institutional investors own 68.58% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on DE shares. Morgan Stanley boosted their target price on Deere & Company from $450.00 to $500.00 and gave the company an "overweight" rating in a research report on Wednesday, April 16th. JPMorgan Chase & Co. boosted their target price on shares of Deere & Company from $490.00 to $540.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Evercore ISI boosted their price objective on shares of Deere & Company from $455.00 to $493.00 and gave the company an "in-line" rating in a research report on Monday, May 19th. Truist Financial raised their price objective on Deere & Company from $546.00 to $619.00 and gave the stock a "buy" rating in a report on Friday, May 16th. Finally, Barclays upped their target price on Deere & Company from $475.00 to $530.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $515.19.

Deere & Company Stock Down 1.0%

Deere & Company stock traded down $4.91 during mid-day trading on Monday, reaching $507.51. The company's stock had a trading volume of 1,085,967 shares, compared to its average volume of 1,364,639. The business's 50 day simple moving average is $510.73 and its 200 day simple moving average is $478.69. Deere & Company has a 12 month low of $340.20 and a 12 month high of $533.78. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.89 and a current ratio of 2.11. The company has a market capitalization of $137.45 billion, a price-to-earnings ratio of 24.55, a price-to-earnings-growth ratio of 3.25 and a beta of 1.08.

Deere & Company (NYSE:DE - Get Free Report) last posted its quarterly earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share for the quarter, beating analysts' consensus estimates of $5.72 by $0.92. The company had revenue of $11.17 billion for the quarter, compared to the consensus estimate of $10.80 billion. Deere & Company had a net margin of 12.40% and a return on equity of 24.39%. The firm's quarterly revenue was down 17.9% compared to the same quarter last year. During the same period last year, the company posted $8.53 EPS. As a group, research analysts anticipate that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Monday, June 30th will be given a dividend of $1.62 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.28%. Deere & Company's dividend payout ratio (DPR) is currently 31.35%.

Deere & Company Profile

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.