KLCM Advisors Inc. Sells 2,000 Shares of Deere & Company $DE

KLCM Advisors Inc. cut its position in shares of Deere & Company (NYSE:DE) by 45.5% during the 1st quarter, Holdings Channel reports. The firm owned 2,400 shares of the industrial products company’s stock after selling 2,000 shares during the quarter. KLCM Advisors Inc.’s holdings in Deere & Company were worth $1,352,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of DE. Anchyra Partners LLC grew its holdings in Deere & Company by 0.5% during the first quarter. Anchyra Partners LLC now owns 3,191 shares of the industrial products company’s stock worth $1,797,000 after purchasing an additional 17 shares during the period. William B. Walkup & Associates Inc. raised its stake in Deere & Company by 0.6% in the first quarter. William B. Walkup & Associates Inc. now owns 2,908 shares of the industrial products company’s stock valued at $1,638,000 after buying an additional 17 shares during the period. Cerro Pacific Wealth Advisors LLC raised its stake in Deere & Company by 0.6% in the fourth quarter. Cerro Pacific Wealth Advisors LLC now owns 3,179 shares of the industrial products company’s stock valued at $1,480,000 after buying an additional 19 shares during the period. Hazlett Burt & Watson Inc. lifted its position in shares of Deere & Company by 2.4% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 816 shares of the industrial products company’s stock valued at $379,000 after buying an additional 19 shares during the last quarter. Finally, Root Financial Partners LLC lifted its position in shares of Deere & Company by 2.2% in the fourth quarter. Root Financial Partners LLC now owns 880 shares of the industrial products company’s stock valued at $410,000 after buying an additional 19 shares during the last quarter. 68.58% of the stock is owned by institutional investors.

Deere & Company Stock Performance

NYSE:DE traded down $5.54 during mid-day trading on Friday, hitting $587.36. 782,098 shares of the stock were exchanged, compared to its average volume of 1,174,307. The stock has a market capitalization of $158.55 billion, a price-to-earnings ratio of 33.28, a price-to-earnings-growth ratio of 2.19 and a beta of 0.89. The firm’s 50-day simple moving average is $581.74 and its 200 day simple moving average is $566.99. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.95 and a current ratio of 2.18. Deere & Company has a fifty-two week low of $433.00 and a fifty-two week high of $674.19.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, May 21st. The industrial products company reported $6.55 EPS for the quarter, beating analysts’ consensus estimates of $5.70 by $0.85. The firm had revenue of $13.37 billion for the quarter, compared to analyst estimates of $11.55 billion. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.The company’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period in the prior year, the firm posted $6.64 EPS. As a group, equities analysts anticipate that Deere & Company will post 18.13 EPS 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 given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Tuesday, June 30th. Deere & Company’s payout ratio is presently 36.71%.

Deere & Company News Summary

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

Analyst Upgrades and Downgrades

DE has been the topic of a number of recent analyst reports. Wall Street Zen raised Deere & Company from a “sell” rating to a “hold” rating in a report on Sunday, July 5th. Robert W. Baird cut their price target on Deere & Company from $580.00 to $525.00 and set a “neutral” rating for the company in a report on Friday, May 22nd. Raymond James Financial decreased their price objective on shares of Deere & Company from $765.00 to $700.00 and set an “outperform” rating on the stock in a report on Friday, May 22nd. Truist Financial increased their price objective on shares of Deere & Company from $759.00 to $812.00 and gave the company a “buy” rating in a research report on Thursday, July 2nd. Finally, Oppenheimer restated an “outperform” rating and set a $680.00 target price (down from $715.00) on shares of Deere & Company in a research note on Wednesday, May 27th. Fourteen analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Deere & Company has a consensus rating of “Moderate Buy” and a consensus target price of $642.23.

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.