Stewart & Patten Co. LLC Sells 200 Shares of Deere & Company (NYSE:DE)

Stewart & Patten Co. LLC lessened its stake in Deere & Company (NYSE:DE) by 23.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 655 shares of the industrial products company’s stock after selling 200 shares during the period. Stewart & Patten Co. LLC’s holdings in Deere & Company were worth $269,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. AlphaMark Advisors LLC raised its position in shares of Deere & Company by 31.1% during the 1st quarter. AlphaMark Advisors LLC now owns 135 shares of the industrial products company’s stock valued at $55,000 after acquiring an additional 32 shares during the last quarter. Silvia Mccoll Wealth Management LLC bought a new stake in shares of Deere & Company during the 1st quarter valued at $238,000. Claro Advisors LLC raised its position in shares of Deere & Company by 18.1% during the 1st quarter. Claro Advisors LLC now owns 902 shares of the industrial products company’s stock valued at $370,000 after acquiring an additional 138 shares during the last quarter. Miracle Mile Advisors LLC raised its position in shares of Deere & Company by 21.1% during the 1st quarter. Miracle Mile Advisors LLC now owns 3,916 shares of the industrial products company’s stock valued at $1,609,000 after acquiring an additional 683 shares during the last quarter. Finally, Kowal Investment Group LLC increased its position in shares of Deere & Company by 7.1% in the 1st quarter. Kowal Investment Group LLC now owns 889 shares of the industrial products company’s stock valued at $365,000 after buying an additional 59 shares in the last quarter. Institutional investors own 68.58% of the company’s stock.

Insider Activity

In other Deere & Company news, insider Cory J. Reed sold 13,370 shares of the stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $377.63, for a total value of $5,048,913.10. Following the transaction, the insider now directly owns 41,642 shares of the company’s stock, valued at approximately $15,725,268.46. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.26% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently commented on DE shares. Daiwa Capital Markets upped their price objective on shares of Deere & Company from $400.00 to $420.00 and gave the company an “overweight” rating in a research report on Wednesday, May 15th. Truist Financial started coverage on shares of Deere & Company in a research report on Thursday, March 14th. They issued a “buy” rating and a $494.00 price objective for the company. Citigroup started coverage on shares of Deere & Company in a research report on Wednesday, June 26th. They issued a “neutral” rating and a $395.00 price objective for the company. Raymond James started coverage on shares of Deere & Company in a research report on Friday. They issued an “outperform” rating and a $420.00 price objective for the company. Finally, Oppenheimer restated an “outperform” rating and issued a $456.00 price objective on shares of Deere & Company in a research report on Thursday, May 16th. Eleven analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $430.55.

Deere & Company Stock Performance

Shares of DE stock traded down $12.86 on Monday, reaching $360.77. The stock had a trading volume of 1,456,844 shares, compared to its average volume of 1,518,528. The company has a quick ratio of 1.80, a current ratio of 2.01 and a debt-to-equity ratio of 1.81. The firm’s 50-day moving average is $385.32 and its two-hundred day moving average is $387.29. The firm has a market capitalization of $99.42 billion, a price-to-earnings ratio of 10.87, a P/E/G ratio of 1.50 and a beta of 0.93. Deere & Company has a 12 month low of $353.15 and a 12 month high of $450.00.

Deere & Company (NYSE:DE) last issued 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. The company had revenue of $13.61 billion for the quarter, compared to analysts’ expectations of $13.29 billion. Deere & Company had a net margin of 16.15% and a return on equity of 42.26%. Deere & Company’s quarterly revenue was down 15.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $9.65 EPS. On average, research analysts expect that Deere & Company will post 25.61 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 8th. Stockholders of record on Friday, June 28th will be issued a $1.47 dividend. The ex-dividend date is Friday, June 28th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.63%. Deere & Company’s payout ratio is 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.