Sunbelt Securities Inc. Has $293,000 Stock Holdings in Deere & Company (NYSE:DE)

Sunbelt Securities Inc. grew its stake in shares of Deere & Company (NYSE:DE) by 11.6% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 714 shares of the industrial products company’s stock after purchasing an additional 74 shares during the quarter. Sunbelt Securities Inc.’s holdings in Deere & Company were worth $293,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in DE. Tompkins Financial Corp grew its holdings in Deere & Company by 2.6% during the first quarter. Tompkins Financial Corp now owns 981 shares of the industrial products company’s stock worth $403,000 after buying an additional 25 shares in the last quarter. Essex Savings Bank grew its stake in shares of Deere & Company by 0.5% in the 4th quarter. Essex Savings Bank now owns 5,367 shares of the industrial products company’s stock worth $2,146,000 after acquiring an additional 26 shares in the last quarter. Bleakley Financial Group LLC raised its holdings in shares of Deere & Company by 0.5% in the fourth quarter. Bleakley Financial Group LLC now owns 5,158 shares of the industrial products company’s stock valued at $2,063,000 after purchasing an additional 27 shares during the last quarter. Valley National Advisers Inc. lifted its position in shares of Deere & Company by 1.5% during the fourth quarter. Valley National Advisers Inc. now owns 1,879 shares of the industrial products company’s stock valued at $751,000 after purchasing an additional 27 shares in the last quarter. Finally, Simplicity Solutions LLC boosted its holdings in Deere & Company by 0.5% during the fourth quarter. Simplicity Solutions LLC now owns 5,158 shares of the industrial products company’s stock worth $2,063,000 after purchasing an additional 27 shares during the last quarter. Institutional investors own 68.58% of the company’s stock.

Analyst Upgrades and Downgrades

DE has been the topic of several recent analyst reports. TD Cowen lifted their target price on shares of Deere & Company from $383.00 to $390.00 and gave the stock a “hold” rating in a research report on Friday, May 17th. Daiwa Capital Markets boosted their price objective on Deere & Company from $400.00 to $420.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 15th. Truist Financial initiated coverage on Deere & Company in a research report on Thursday, March 14th. They set a “buy” rating and a $494.00 target price for the company. DA Davidson cut their price target on shares of Deere & Company from $483.00 to $465.00 and set a “buy” rating on the stock in a report on Monday, May 20th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Deere & Company from $425.00 to $385.00 and set a “neutral” rating for the company in a report on Friday, May 17th. Eleven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, Deere & Company currently has a consensus rating of “Hold” and a consensus price target of $431.14.

Insider Transactions at Deere & Company

In related news, insider Cory J. Reed sold 13,370 shares of the stock in a transaction on Monday, June 24th. The shares were 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 of the company’s stock, valued at approximately $15,725,268.46. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 0.26% of the company’s stock.

Deere & Company Trading Up 0.1 %

NYSE DE opened at $376.70 on Friday. The company has a quick ratio of 1.80, a current ratio of 2.01 and a debt-to-equity ratio of 1.81. The stock’s 50-day simple moving average is $386.34 and its two-hundred day simple moving average is $387.01. Deere & Company has a twelve month low of $353.15 and a twelve month high of $450.00. The company has a market capitalization of $103.81 billion, a price-to-earnings ratio of 11.34, a PEG ratio of 1.48 and a beta of 0.98.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, May 16th. The industrial products company reported $8.53 EPS for the quarter, beating the consensus estimate of $7.86 by $0.67. The firm had revenue of $13.61 billion for the quarter, compared to analyst estimates of $13.29 billion. Deere & Company had a return on equity of 42.26% and a net margin of 16.15%. The company’s revenue was down 15.4% on a year-over-year basis. During the same period in the prior year, the company earned $9.65 EPS. Research analysts forecast that Deere & Company will post 25.61 EPS for the current fiscal year.

Deere & Company Dividend Announcement

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

Deere & 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.