750 Shares in Deere & Company (NYSE:DE) Acquired by MRP Capital Investments LLC

MRP Capital Investments LLC acquired a new stake in shares of Deere & Company (NYSE:DE) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 750 shares of the industrial products company’s stock, valued at approximately $280,000.

Several other hedge funds have also added to or reduced their stakes in the stock. True Wealth Design LLC raised its position in shares of Deere & Company by 1,180.0% in the 4th quarter. True Wealth Design LLC now owns 64 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 59 shares during the last quarter. Pineridge Advisors LLC raised its holdings in Deere & Company by 725.0% in the first quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock worth $27,000 after buying an additional 58 shares during the last quarter. Livelsberger Financial Advisory bought a new position in shares of Deere & Company in the fourth quarter worth approximately $30,000. Spartan Planning & Wealth Management purchased a new stake in shares of Deere & Company during the fourth quarter valued at approximately $33,000. Finally, Core Wealth Advisors Inc. increased its position in shares of Deere & Company by 466.7% during the fourth quarter. Core Wealth Advisors Inc. now owns 85 shares of the industrial products company’s stock valued at $34,000 after acquiring an additional 70 shares in the last quarter. 68.58% of the stock is owned by institutional investors.

Deere & Company Stock Performance

NYSE:DE opened at $401.11 on Thursday. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.87 and a current ratio of 2.07. The stock has a 50-day simple moving average of $374.47 and a two-hundred day simple moving average of $382.18. The firm has a market capitalization of $110.53 billion, a PE ratio of 12.07, a P/E/G ratio of 1.29 and a beta of 0.92. Deere & Company has a 52-week low of $340.20 and a 52-week high of $417.46.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 earnings per share for the quarter, beating analysts’ consensus estimates of $5.63 by $0.66. The firm had revenue of $11.39 billion for the quarter, compared to analysts’ expectations of $10.94 billion. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The business’s quarterly revenue was down 20.3% on a year-over-year basis. During the same period in the previous year, the firm earned $10.20 EPS. Analysts forecast that Deere & Company will post 25.07 EPS for the current year.

Deere & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Monday, September 30th will be paid a $1.47 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.47%. Deere & Company’s dividend payout ratio (DPR) is presently 17.70%.

Insider Activity

In related news, insider Cory J. Reed sold 13,370 shares of the company’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $377.63, for a total value of $5,048,913.10. Following the completion of the transaction, the insider now owns 41,642 shares of the company’s stock, valued at approximately $15,725,268.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on DE. Truist Financial reiterated a “buy” rating and set a $443.00 target price (up from $439.00) on shares of Deere & Company in a research note on Friday, August 16th. JPMorgan Chase & Co. dropped their price objective on Deere & Company from $375.00 to $360.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 13th. Evercore ISI boosted their target price on Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a research report on Monday, August 19th. Hsbc Global Res downgraded shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, August 19th. Finally, Bank of America boosted their price objective on shares of Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a report on Friday, August 16th. Fourteen analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $409.88.

About Deere & Company

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.