G&S Capital LLC Raises Position in Deere & Company (NYSE:DE)

G&S Capital LLC boosted its position in Deere & Company (NYSE:DE) by 306.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,083 shares of the industrial products company’s stock after purchasing an additional 1,570 shares during the period. G&S Capital LLC’s holdings in Deere & Company were worth $856,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Federated Hermes Inc. raised its holdings in shares of Deere & Company by 0.6% in the 3rd quarter. Federated Hermes Inc. now owns 19,210 shares of the industrial products company’s stock valued at $7,249,000 after acquiring an additional 124 shares in the last quarter. Operose Advisors LLC purchased a new stake in Deere & Company in the third quarter valued at approximately $92,000. O Shaughnessy Asset Management LLC lifted its position in Deere & Company by 30.3% during the third quarter. O Shaughnessy Asset Management LLC now owns 15,297 shares of the industrial products company’s stock valued at $5,773,000 after purchasing an additional 3,559 shares during the last quarter. Mutual Advisors LLC grew its stake in Deere & Company by 3.6% in the 3rd quarter. Mutual Advisors LLC now owns 4,783 shares of the industrial products company’s stock worth $1,805,000 after buying an additional 164 shares in the last quarter. Finally, Mckinley Capital Management LLC increased its holdings in shares of Deere & Company by 321.9% in the 3rd quarter. Mckinley Capital Management LLC now owns 9,721 shares of the industrial products company’s stock worth $3,669,000 after buying an additional 7,417 shares during the last quarter. 68.58% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Deere & Company news, insider Cory J. Reed sold 13,370 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $377.63, for a total transaction of $5,048,913.10. Following the transaction, the insider now owns 41,642 shares in the company, valued at approximately $15,725,268.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.26% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have recently issued reports on DE. TD Cowen lifted their price objective on shares of Deere & Company from $383.00 to $390.00 and gave the stock a “hold” rating in a report on Friday, May 17th. Daiwa Capital Markets lifted their price target on Deere & Company from $400.00 to $420.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 15th. JPMorgan Chase & Co. reduced their price objective on Deere & Company from $425.00 to $385.00 and set a “neutral” rating on the stock in a research report on Friday, May 17th. Morgan Stanley boosted their target price on Deere & Company from $430.00 to $450.00 in a research report on Wednesday, May 15th. Finally, Citigroup started coverage on shares of Deere & Company in a research note on Wednesday. They set a “neutral” rating and a $395.00 price target on the stock. Eleven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, Deere & Company presently has an average rating of “Hold” and a consensus target price of $431.14.

Deere & Company Stock Performance

Deere & Company stock opened at $376.11 on Thursday. The company has a current ratio of 2.01, a quick ratio of 1.80 and a debt-to-equity ratio of 1.81. The firm has a market cap of $103.64 billion, a P/E ratio of 11.32, a P/E/G ratio of 1.48 and a beta of 0.98. Deere & Company has a 1-year low of $353.15 and a 1-year high of $450.00. The firm has a 50-day moving average of $386.75 and a 200-day moving average of $387.08.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, May 16th. The industrial products company reported $8.53 earnings per share for the quarter, topping the consensus estimate of $7.86 by $0.67. The business had revenue of $13.61 billion during the quarter, compared to analysts’ expectations of $13.29 billion. Deere & Company had a return on equity of 42.26% and a net margin of 16.15%. The business’s revenue was down 15.4% on a year-over-year basis. During the same quarter last year, the business posted $9.65 EPS. Sell-side analysts expect that Deere & Company will post 25.61 EPS for the current year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 8th. Investors of record on Friday, June 28th will be issued a $1.47 dividend. This represents a $5.88 annualized dividend and a yield of 1.56%. The ex-dividend date of this dividend is Friday, June 28th. Deere & Company’s dividend payout ratio (DPR) is currently 17.70%.

Deere & Company Company Profile

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.