Bollard Group LLC Sells 13,263 Shares of Deere & Company $DE

Bollard Group LLC decreased its position in Deere & Company (NYSE:DE) by 20.9% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 50,308 shares of the industrial products company’s stock after selling 13,263 shares during the period. Deere & Company comprises approximately 0.6% of Bollard Group LLC’s portfolio, making the stock its 23rd biggest holding. Bollard Group LLC’s holdings in Deere & Company were worth $23,422,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in DE. Cary Street Partners Financial LLC lifted its stake in Deere & Company by 11.8% in the fourth quarter. Cary Street Partners Financial LLC now owns 10,312 shares of the industrial products company’s stock worth $4,801,000 after acquiring an additional 1,086 shares during the period. Spectrum Financial Alliance Ltd LLC lifted its position in Deere & Company by 55.8% during the fourth quarter. Spectrum Financial Alliance Ltd LLC now owns 85,351 shares of the industrial products company’s stock valued at $39,737,000 after buying an additional 30,553 shares during the period. Westpac Banking Corp lifted its position in Deere & Company by 78.6% during the fourth quarter. Westpac Banking Corp now owns 6,925 shares of the industrial products company’s stock valued at $3,224,000 after buying an additional 3,047 shares during the period. Public Sector Pension Investment Board lifted its position in Deere & Company by 14.6% during the third quarter. Public Sector Pension Investment Board now owns 21,174 shares of the industrial products company’s stock valued at $9,682,000 after buying an additional 2,702 shares during the period. Finally, Legal & General Group Plc lifted its position in Deere & Company by 7.6% during the third quarter. Legal & General Group Plc now owns 1,651,982 shares of the industrial products company’s stock valued at $755,385,000 after buying an additional 115,975 shares during the period. Institutional investors own 68.58% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on DE. Wells Fargo & Company lifted their price objective on Deere & Company from $543.00 to $750.00 and gave the stock an “overweight” rating in a report on Friday, February 20th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $752.00 price objective on shares of Deere & Company in a report on Monday, June 1st. Morgan Stanley lifted their price objective on Deere & Company from $560.00 to $730.00 and gave the stock an “overweight” rating in a report on Monday, February 23rd. Sanford C. Bernstein boosted their price target on Deere & Company from $521.00 to $615.00 and gave the company a “market perform” rating in a research note on Friday, February 20th. Finally, Truist Financial cut their price target on Deere & Company from $793.00 to $759.00 and set a “buy” rating for the company in a research note on Tuesday, May 26th. Fourteen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $639.58.

Deere & Company Trading Up 1.5%

Shares of NYSE:DE opened at $577.05 on Friday. The stock has a 50 day moving average of $573.27 and a 200 day moving average of $548.89. The company has a market cap of $155.77 billion, a PE ratio of 32.69, a price-to-earnings-growth ratio of 2.14 and a beta of 0.92. The company has a current ratio of 2.18, a quick ratio of 1.95 and a debt-to-equity ratio of 1.54. Deere & Company has a 12-month low of $433.00 and a 12-month high of $674.19.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, May 21st. The industrial products company reported $6.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.70 by $0.85. The company had revenue of $13.37 billion during the quarter, compared to the consensus estimate of $11.55 billion. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.The firm’s revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the company posted $6.64 EPS. As a group, equities research analysts expect that Deere & Company will post 18.13 EPS for the current year.

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Investors of record on Tuesday, June 30th will be paid a dividend of $1.62 per share. The ex-dividend date is Tuesday, June 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.1%. Deere & Company’s payout ratio is 36.71%.

Deere & 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.