Deere & Company $DE Position Lessened by Aaron Wealth Advisors LLC

Aaron Wealth Advisors LLC decreased its position in shares of Deere & Company (NYSE:DE) by 27.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,817 shares of the industrial products company’s stock after selling 1,410 shares during the period. Aaron Wealth Advisors LLC’s holdings in Deere & Company were worth $2,151,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of DE. Cary Street Partners Financial LLC boosted its holdings in Deere & Company by 11.8% during the fourth quarter. Cary Street Partners Financial LLC now owns 10,312 shares of the industrial products company’s stock valued at $4,801,000 after acquiring an additional 1,086 shares during the period. Spectrum Financial Alliance Ltd LLC increased its stake in shares of Deere & Company by 55.8% in the fourth quarter. Spectrum Financial Alliance Ltd LLC now owns 85,351 shares of the industrial products company’s stock worth $39,737,000 after purchasing an additional 30,553 shares during the period. Westpac Banking Corp lifted its position in shares of Deere & Company by 78.6% during the 4th quarter. Westpac Banking Corp now owns 6,925 shares of the industrial products company’s stock worth $3,224,000 after purchasing an additional 3,047 shares during the last quarter. Legal & General Group Plc lifted its position in shares of Deere & Company by 7.6% during the 3rd quarter. Legal & General Group Plc now owns 1,651,982 shares of the industrial products company’s stock worth $755,385,000 after purchasing an additional 115,975 shares during the last quarter. Finally, Eldred Rock Partners LLC bought a new stake in Deere & Company during the 4th quarter valued at approximately $13,166,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Up 5.1%

Shares of NYSE DE opened at $631.45 on Friday. Deere & Company has a 52-week low of $433.00 and a 52-week high of $674.19. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.95 and a current ratio of 2.18. The business has a fifty day moving average of $573.78 and a two-hundred day moving average of $556.89. The stock has a market cap of $170.45 billion, a PE ratio of 35.78, a PEG ratio of 2.22 and a beta of 0.92.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share for the quarter, topping the consensus estimate of $5.70 by $0.85. The business had revenue of $13.37 billion for the quarter, compared to analyst estimates of $11.55 billion. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $6.64 EPS. As a group, equities research analysts expect that Deere & Company will post 18.13 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Tuesday, June 30th will be issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Tuesday, June 30th. Deere & Company’s dividend payout ratio is presently 36.71%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Weiss Ratings upgraded shares of Deere & Company from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, May 21st. Raymond James Financial cut their target price on shares of Deere & Company from $765.00 to $700.00 and set an “outperform” rating for the company in a research note on Friday, May 22nd. Truist Financial reduced their price target on shares of Deere & Company from $793.00 to $759.00 and set a “buy” rating for the company in a report on Tuesday, May 26th. Royal Bank Of Canada restated an “outperform” rating and issued a $752.00 price target on shares of Deere & Company in a research report on Monday, June 1st. Finally, Barclays boosted their price objective on shares of Deere & Company from $530.00 to $640.00 and gave the stock an “overweight” rating in a report on Tuesday, March 31st. Fourteen equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, Deere & Company presently has a consensus rating of “Moderate Buy” and a consensus price target of $639.58.

About Deere & Company

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.