Ferguson Wellman Capital Management Inc. Sells 1,177 Shares of Deere & Company $DE

Ferguson Wellman Capital Management Inc. decreased its holdings in Deere & Company (NYSE:DE) by 14.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,949 shares of the industrial products company’s stock after selling 1,177 shares during the quarter. Ferguson Wellman Capital Management Inc.’s holdings in Deere & Company were worth $3,914,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in DE. Brighton Jones LLC raised its position in Deere & Company by 39.1% in the fourth quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company’s stock worth $1,927,000 after acquiring an additional 1,278 shares during the period. Schnieders Capital Management LLC. grew its position in shares of Deere & Company by 7.8% during the 2nd quarter. Schnieders Capital Management LLC. now owns 2,076 shares of the industrial products company’s stock valued at $1,056,000 after acquiring an additional 150 shares during the period. Jump Financial LLC bought a new stake in shares of Deere & Company during the 2nd quarter valued at $2,153,000. NewEdge Advisors LLC increased its stake in shares of Deere & Company by 6.0% in the 2nd quarter. NewEdge Advisors LLC now owns 18,758 shares of the industrial products company’s stock worth $9,538,000 after purchasing an additional 1,067 shares in the last quarter. Finally, Main Street Financial Solutions LLC increased its stake in shares of Deere & Company by 6.7% in the 2nd quarter. Main Street Financial Solutions LLC now owns 1,551 shares of the industrial products company’s stock worth $789,000 after purchasing an additional 97 shares in the last quarter. 68.58% of the stock is currently owned by institutional investors.

Deere & Company Price Performance

DE stock opened at $587.36 on Monday. 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 company’s fifty day moving average price is $581.74 and its 200-day moving average price is $567.68. Deere & Company has a one year low of $433.00 and a one year high of $674.19. The company has a market capitalization of $158.55 billion, a PE ratio of 33.28, a price-to-earnings-growth ratio of 2.17 and a beta of 0.89.

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, beating the consensus estimate of $5.70 by $0.85. The company had revenue of $13.37 billion during the quarter, compared to analysts’ expectations of $11.55 billion. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. Deere & Company’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period last year, the company posted $6.64 earnings per share. On average, equities analysts anticipate that Deere & Company will post 18.13 EPS for the current fiscal year.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Shareholders 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 1.1%. The ex-dividend date of this dividend is Tuesday, June 30th. Deere & Company’s dividend payout ratio is 36.71%.

Key Stories Impacting Deere & Company

Here are the key news stories impacting Deere & Company this week:

• Positive Sentiment: D.A. Davidson’s new coverage on AGCO highlighted that weak farm conditions can still support equipment makers like Deere, reinforcing the view that replacement demand and pricing power may hold up better than expected for agricultural OEMs. Farming Is Terrible Right Now. That’s Good for Deere and AGCO Stocks.
• Positive Sentiment: Jim Cramer was upbeat on Deere, calling the stock “incredible” and suggesting it still has room to go higher, which may help sentiment around the shares. Jim Cramer on Deere & Company: “The Stock Is Incredible, and It’s Not Done Going Higher”
• Neutral Sentiment: An analyst report on Deere was published, but no clear thesis or rating details were provided in the feed, so it is likely a limited near-term catalyst. Analyst Report: Deere & Co
• Negative Sentiment: Deere settled a right-to-repair dispute with the FTC, requiring it to provide farmers and independent repair providers the same repair resources as authorized dealers for 10 years. Investors may see this as a hit to Deere’s control over service revenue and after-sales economics. Deere settles right to repair dispute with FTC

Analysts Set New Price Targets

Several equities analysts recently weighed in on DE shares. Oppenheimer reiterated an “outperform” rating and set a $680.00 target price (down from $715.00) on shares of Deere & Company in a research report on Wednesday, May 27th. Robert W. Baird reduced their price target on Deere & Company from $580.00 to $525.00 and set a “neutral” rating for the company in a research report on Friday, May 22nd. Jefferies Financial Group raised Deere & Company from an “underperform” rating to a “hold” rating and set a $550.00 price objective on the stock in a research note on Wednesday, April 8th. Raymond James Financial lowered their price objective on Deere & Company from $765.00 to $700.00 and set an “outperform” rating on the stock in a research report on Friday, May 22nd. Finally, Truist Financial boosted their price objective on Deere & Company from $759.00 to $812.00 and gave the company a “buy” rating in a research note on Thursday, July 2nd. Fourteen analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $642.23.

Deere & Company Profile

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.