OneAscent Financial Services LLC Cuts Stake in Deere & Company (NYSE:DE)

OneAscent Financial Services LLC decreased its stake in Deere & Company (NYSE:DE) by 1.8% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 3,700 shares of the industrial products company’s stock after selling 67 shares during the quarter. OneAscent Financial Services LLC’s holdings in Deere & Company were worth $1,520,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. True Wealth Design LLC lifted its holdings in Deere & Company by 1,180.0% in the 4th quarter. True Wealth Design LLC now owns 64 shares of the industrial products company’s stock worth $26,000 after buying an additional 59 shares in the last quarter. ZRC Wealth Management LLC purchased a new stake in shares of Deere & Company during the fourth quarter worth about $28,000. Rakuten Securities Inc. acquired a new position in shares of Deere & Company in the fourth quarter worth about $28,000. Naples Money Management LLC purchased a new position in Deere & Company in the fourth quarter valued at about $29,000. Finally, Private Wealth Management Group LLC purchased a new stake in Deere & Company during the 4th quarter worth approximately $29,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on DE. DA Davidson reduced their target price on Deere & Company from $483.00 to $465.00 and set a “buy” rating for the company in a research note on Monday, May 20th. Citigroup began coverage on shares of Deere & Company in a research note on Wednesday. They set a “neutral” rating and a $395.00 price objective on the stock. Stifel Nicolaus boosted their target price on shares of Deere & Company from $425.00 to $450.00 and gave the stock a “buy” rating in a research report on Friday, May 17th. TD Cowen increased their price target on shares of Deere & Company from $383.00 to $390.00 and gave the stock a “hold” rating in a research report on Friday, May 17th. Finally, Truist Financial began coverage on Deere & Company in a report on Thursday, March 14th. They issued a “buy” rating and a $494.00 price objective for the company. Eleven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, Deere & Company has a consensus rating of “Hold” and an average price target of $430.55.

Insider Activity at Deere & Company

In other Deere & Company news, insider Cory J. Reed sold 13,370 shares of the business’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $377.63, for a total transaction of $5,048,913.10. Following the completion of the transaction, the insider now owns 41,642 shares in the company, valued at approximately $15,725,268.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.26% of the stock is owned by insiders.

Deere & Company Stock Performance

Shares of DE traded down $1.68 during midday trading on Friday, hitting $373.63. 6,689,701 shares of the stock traded hands, compared to its average volume of 1,409,983. The business’s 50 day moving average price is $385.32 and its two-hundred day moving average price is $387.02. The firm has a market capitalization of $102.96 billion, a PE ratio of 11.25, a price-to-earnings-growth ratio of 1.51 and a beta of 0.98. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.80 and a current ratio of 2.01. Deere & Company has a 1-year low of $353.15 and a 1-year high of $450.00.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, May 16th. The industrial products company reported $8.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.86 by $0.67. Deere & Company had a net margin of 16.15% and a return on equity of 42.26%. The firm had revenue of $13.61 billion during the quarter, compared to analyst estimates of $13.29 billion. During the same period in the previous year, the business posted $9.65 EPS. Deere & Company’s revenue was down 15.4% on a year-over-year basis. Equities research analysts predict that Deere & Company will post 25.61 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 8th. Investors of record on Friday, June 28th will be given a $1.47 dividend. This represents a $5.88 annualized dividend and a yield of 1.57%. The ex-dividend date is Friday, June 28th. Deere & Company’s dividend payout ratio is currently 17.70%.

Deere & Company Profile

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.