Sterling Investment Counsel LLC Invests $626,000 in Deere & Company (NYSE:DE)

Sterling Investment Counsel LLC bought a new stake in shares of Deere & Company (NYSE:DE - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,333 shares of the industrial products company's stock, valued at approximately $626,000.

Several other large investors also recently added to or reduced their stakes in the business. Coppell Advisory Solutions LLC raised its position in shares of Deere & Company by 2.5% in the 4th quarter. Coppell Advisory Solutions LLC now owns 1,011 shares of the industrial products company's stock valued at $432,000 after purchasing an additional 25 shares during the last quarter. Glen Eagle Advisors LLC raised its position in shares of Deere & Company by 0.9% in the 4th quarter. Glen Eagle Advisors LLC now owns 2,936 shares of the industrial products company's stock valued at $1,244,000 after purchasing an additional 25 shares during the last quarter. Deseret Mutual Benefit Administrators raised its position in shares of Deere & Company by 8.2% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 342 shares of the industrial products company's stock valued at $145,000 after purchasing an additional 26 shares during the last quarter. Knights of Columbus Asset Advisors LLC raised its position in shares of Deere & Company by 0.3% in the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 7,565 shares of the industrial products company's stock valued at $3,205,000 after purchasing an additional 26 shares during the last quarter. Finally, LRI Investments LLC raised its position in shares of Deere & Company by 1.1% in the 4th quarter. LRI Investments LLC now owns 2,442 shares of the industrial products company's stock valued at $1,035,000 after purchasing an additional 26 shares during the last quarter. 68.58% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on DE. UBS Group decreased their price objective on shares of Deere & Company from $462.00 to $440.00 and set a "neutral" rating for the company in a research report on Monday, April 7th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Deere & Company in a research report on Thursday, May 15th. Oppenheimer increased their price objective on shares of Deere & Company from $513.00 to $555.00 and gave the company an "outperform" rating in a research report on Friday, May 16th. Truist Financial increased their price objective on shares of Deere & Company from $546.00 to $619.00 and gave the company a "buy" rating in a research report on Friday, May 16th. Finally, Bank of America raised their price target on shares of Deere & Company from $495.00 to $556.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Deere & Company has a consensus rating of "Hold" and a consensus price target of $515.19.

Deere & Company Price Performance

Shares of NYSE DE opened at $525.02 on Thursday. The stock has a market capitalization of $142.19 billion, a price-to-earnings ratio of 25.40, a PEG ratio of 3.32 and a beta of 1.09. Deere & Company has a 12 month low of $340.20 and a 12 month high of $533.78. The firm's 50 day simple moving average is $492.30 and its 200-day simple moving average is $469.71. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.11 and a quick ratio of 1.89.

Deere & Company (NYSE:DE - Get Free Report) last issued its quarterly earnings data on Thursday, May 15th. The industrial products company reported $6.64 EPS for the quarter, topping analysts' consensus estimates of $5.72 by $0.92. The business had revenue of $11.17 billion for the quarter, compared to analysts' expectations of $10.80 billion. Deere & Company had a net margin of 12.40% and a return on equity of 24.39%. The business's revenue was down 17.9% on a year-over-year basis. During the same quarter last year, the company earned $8.53 EPS. Analysts expect that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Monday, June 30th will be paid a dividend of $1.62 per share. The ex-dividend date is Monday, June 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.23%. Deere & Company's payout ratio is 31.35%.

About Deere & Company

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.

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