Stonebrook Private Inc. Has $331,000 Stock Holdings in Deere & Company (NYSE:DE)

Stonebrook Private Inc. decreased its position in Deere & Company (NYSE:DE) by 31.4% during the 2nd quarter, Holdings Channel.com reports. The fund owned 886 shares of the industrial products company’s stock after selling 405 shares during the quarter. Stonebrook Private Inc.’s holdings in Deere & Company were worth $331,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Deere & Company by 1.2% in the first quarter. Vanguard Group Inc. now owns 21,988,363 shares of the industrial products company’s stock valued at $9,031,500,000 after acquiring an additional 263,709 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in Deere & Company by 0.5% during the first quarter. Janus Henderson Group PLC now owns 3,859,021 shares of the industrial products company’s stock worth $1,585,028,000 after buying an additional 19,200 shares during the last quarter. Parnassus Investments LLC grew its position in shares of Deere & Company by 22.4% during the 4th quarter. Parnassus Investments LLC now owns 3,856,171 shares of the industrial products company’s stock worth $1,541,967,000 after buying an additional 705,771 shares during the period. Norges Bank bought a new stake in shares of Deere & Company in the 4th quarter valued at about $1,248,036,000. Finally, Dimensional Fund Advisors LP raised its position in shares of Deere & Company by 11.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,595,945 shares of the industrial products company’s stock valued at $638,167,000 after acquiring an additional 160,369 shares during the period. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on DE shares. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a research note on Thursday, August 8th. Hsbc Global Res cut Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 19th. Bank of America lifted their price objective on Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a report on Friday, August 16th. Truist Financial restated a “buy” rating and set a $443.00 target price (up from $439.00) on shares of Deere & Company in a report on Friday, August 16th. Finally, Raymond James assumed coverage on shares of Deere & Company in a report on Friday, June 28th. They issued an “outperform” rating and a $420.00 price target for the company. Fourteen investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $414.11.

Insider Transactions at Deere & Company

In other Deere & Company news, insider Cory J. Reed sold 13,370 shares of the stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $377.63, for a total transaction of $5,048,913.10. Following 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 document filed with the SEC, which is accessible through the SEC website. Insiders own 0.26% of the company’s stock.

Deere & Company Stock Performance

Shares of DE traded down $2.13 during trading hours on Friday, hitting $381.56. The company had a trading volume of 1,670,319 shares, compared to its average volume of 1,536,021. The business has a fifty day moving average of $369.04 and a 200-day moving average of $380.35. The company has a quick ratio of 1.87, a current ratio of 2.07 and a debt-to-equity ratio of 1.85. The firm has a market cap of $105.15 billion, a price-to-earnings ratio of 11.49, a PEG ratio of 1.28 and a beta of 0.92. Deere & Company has a 12 month low of $340.20 and a 12 month high of $417.46.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.63 by $0.66. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The company had revenue of $11.39 billion during the quarter, compared to analysts’ expectations of $10.94 billion. During the same quarter in the previous year, the company posted $10.20 earnings per share. The business’s revenue was down 20.3% on a year-over-year basis. Equities analysts anticipate that Deere & Company will post 25.09 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Monday, September 30th will be given a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a yield of 1.54%. The ex-dividend date is Monday, September 30th. 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.