Deere & Company $DE Position Cut by D.A. Davidson & CO.

D.A. Davidson & CO. trimmed its position in shares of Deere & Company (NYSE:DE) by 2.7% in the first quarter, HoldingsChannel reports. The firm owned 80,570 shares of the industrial products company’s stock after selling 2,206 shares during the period. D.A. Davidson & CO.’s holdings in Deere & Company were worth $45,386,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Anchyra Partners LLC lifted its holdings in Deere & Company by 0.5% in 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. boosted its holdings in Deere & Company by 0.6% during the first quarter. William B. Walkup & Associates Inc. now owns 2,908 shares of the industrial products company’s stock worth $1,638,000 after buying an additional 17 shares in the last quarter. Cerro Pacific Wealth Advisors LLC boosted its stake in shares of Deere & Company by 0.6% during the 4th quarter. Cerro Pacific Wealth Advisors LLC now owns 3,179 shares of the industrial products company’s stock worth $1,480,000 after acquiring an additional 19 shares in the last quarter. Hazlett Burt & Watson Inc. increased its stake in Deere & Company by 2.4% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 816 shares of the industrial products company’s stock worth $379,000 after purchasing an additional 19 shares in the last quarter. Finally, Root Financial Partners LLC increased 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 worth $410,000 after acquiring an additional 19 shares in the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Barclays lifted their price target on Deere & Company from $530.00 to $640.00 and gave the company an “overweight” rating in a report on Tuesday, March 31st. Royal Bank Of Canada restated an “outperform” rating and set a $752.00 price target on shares of Deere & Company in a research note on Monday, June 1st. Weiss Ratings raised Deere & Company from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, May 21st. Bank of America lowered their price target on Deere & Company from $672.00 to $607.50 and set a “neutral” rating on the stock in a report on Friday, May 22nd. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Deere & Company from $560.00 to $590.00 and gave the stock a “neutral” rating in a research note on Thursday, June 4th. Fourteen equities research 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.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $642.98.

Key Deere & Company News

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

• Positive Sentiment: Deere reached a settlement with the FTC over its right-to-repair case, potentially expanding repair access and improving relationships with customers. FTC reaches settlement with Deere in ‘right to repair’ suit
• Positive Sentiment: Expanded independent repair options could support Deere’s parts, service, and life-extension revenue streams, especially as aging farm fleets need more maintenance. Agricultural Machinery Components Market Report Published, Profiles Deere, CNH Industrial, AGCO, Kubota, and 11 Other Companies
• Neutral Sentiment: Several articles highlighted Deere as a stock drawing investor attention and being compared with peers such as Alamo Group on valuation, but these are mostly commentary pieces rather than new fundamental catalysts. ALG vs. DE: Which Stock Is the Better Value Option?
• Neutral Sentiment: Additional coverage focused on Deere’s popularity with investors, but did not add materially new business or earnings information. Deere & Company (DE) is Attracting Investor Attention: Here is What You Should Know
• Negative Sentiment: The right-to-repair issue also keeps attention on potential margin pressure over time if repair work shifts away from Deere-owned channels, even after the settlement. Farmers win right to repair their own John Deere equipment; could it become law?

Deere & Company Stock Performance

NYSE DE opened at $589.48 on Thursday. The company’s fifty day moving average is $581.74 and its two-hundred day moving average is $570.21. 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 current ratio of 2.18 and a quick ratio of 1.95. The firm has a market capitalization of $159.12 billion, a price-to-earnings ratio of 33.40, a P/E/G ratio of 2.16 and a beta of 0.89.

Deere & Company (NYSE:DE) last announced 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. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. The business had revenue of $13.37 billion during the quarter, compared to analyst estimates of $11.55 billion. During the same quarter in the prior year, the business earned $6.64 earnings per share. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. Equities research analysts forecast that Deere & Company will post 18.13 EPS for the current year.

Deere & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Tuesday, June 30th will be issued a $1.62 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $6.48 annualized dividend and a yield of 1.1%. Deere & Company’s dividend payout ratio is 36.71%.

Deere & Company 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.