SeaBridge Investment Advisors LLC Raises Stock Holdings in Deere & Company $DE

SeaBridge Investment Advisors LLC raised its position in Deere & Company (NYSE:DE) by 41.1% in the second quarter, Holdings Channel.com reports. The institutional investor owned 7,836 shares of the industrial products company’s stock after purchasing an additional 2,281 shares during the period. SeaBridge Investment Advisors LLC’s holdings in Deere & Company were worth $3,985,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its holdings in shares of Deere & Company by 39.1% in the fourth quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company’s stock valued at $1,927,000 after purchasing an additional 1,278 shares during the period. Mascagni Wealth Management Inc. acquired a new position in shares of Deere & Company in the fourth quarter valued at approximately $39,000. AdvisorNet Financial Inc increased its holdings in shares of Deere & Company by 11.3% in the first quarter. AdvisorNet Financial Inc now owns 1,535 shares of the industrial products company’s stock valued at $721,000 after purchasing an additional 156 shares during the period. GAMMA Investing LLC increased its holdings in shares of Deere & Company by 61,215.9% in the first quarter. GAMMA Investing LLC now owns 1,753,022 shares of the industrial products company’s stock valued at $822,781,000 after purchasing an additional 1,750,163 shares during the period. Finally, Parallel Advisors LLC increased its holdings in shares of Deere & Company by 9.9% in the first quarter. Parallel Advisors LLC now owns 3,270 shares of the industrial products company’s stock valued at $1,535,000 after purchasing an additional 295 shares during the period. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Trading Down 0.6%

Shares of DE stock opened at $463.93 on Friday. The business’s fifty day moving average price is $489.67 and its 200 day moving average price is $489.66. Deere & Company has a 1-year low of $387.03 and a 1-year high of $533.78. The firm has a market capitalization of $125.41 billion, a PE ratio of 24.25, a P/E/G ratio of 3.00 and a beta of 1.00. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.19 and a quick ratio of 1.98.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, August 14th. The industrial products company reported $4.75 earnings per share for the quarter, topping analysts’ consensus estimates of $4.62 by $0.13. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The firm had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.33 billion. During the same quarter in the prior year, the company posted $6.29 earnings per share. Deere & Company’s quarterly revenue was down 9.0% on a year-over-year basis. As a group, sell-side analysts forecast that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Tuesday, September 30th will be given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Tuesday, September 30th. Deere & Company’s payout ratio is presently 33.87%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Truist Financial dropped their target price on Deere & Company from $619.00 to $602.00 and set a “buy” rating on the stock in a report on Friday, August 15th. Melius Research raised Deere & Company from a “hold” rating to a “strong-buy” rating in a report on Friday, June 6th. Evercore ISI set a $491.00 target price on Deere & Company in a report on Tuesday, August 19th. Wall Street Zen lowered Deere & Company from a “hold” rating to a “sell” rating in a report on Friday. Finally, JPMorgan Chase & Co. dropped their price objective on Deere & Company from $500.00 to $495.00 and set a “neutral” rating on the stock in a report on Tuesday, September 2nd. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Deere & Company presently has a consensus rating of “Moderate Buy” and an average target price of $518.06.

About Deere & Company

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.