Deere & Company $DE Shares Sold by Sei Investments Co.

Sei Investments Co. reduced its holdings in shares of Deere & Company (NYSE:DE) by 19.4% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 119,585 shares of the industrial products company’s stock after selling 28,746 shares during the period. Sei Investments Co.’s holdings in Deere & Company were worth $67,360,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in DE. MWA Asset Management increased its holdings in Deere & Company by 2.4% in the 1st quarter. MWA Asset Management now owns 9,441 shares of the industrial products company’s stock valued at $5,319,000 after purchasing an additional 224 shares in the last quarter. Alamar Capital Management LLC acquired a new position in shares of Deere & Company during the first quarter worth about $475,000. Cetera Investment Advisers boosted its position in shares of Deere & Company by 2.7% in the first quarter. Cetera Investment Advisers now owns 149,219 shares of the industrial products company’s stock worth $84,055,000 after buying an additional 3,855 shares during the period. Prestige Wealth Management Group LLC boosted its position in shares of Deere & Company by 30.1% in the first quarter. Prestige Wealth Management Group LLC now owns 95 shares of the industrial products company’s stock worth $54,000 after buying an additional 22 shares during the period. Finally, Levin Capital Strategies L.P. grew its stake in shares of Deere & Company by 0.5% in the first quarter. Levin Capital Strategies L.P. now owns 22,403 shares of the industrial products company’s stock valued at $12,620,000 after buying an additional 108 shares in the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on DE shares. Truist Financial lifted their price target on shares of Deere & Company from $759.00 to $812.00 and gave the stock a “buy” rating in a research note on Thursday, July 2nd. Wall Street Zen raised shares of Deere & Company from a “sell” rating to a “hold” rating in a research report on Sunday, July 5th. Oppenheimer restated an “outperform” rating and set a $680.00 target price (down from $715.00) on shares of Deere & Company in a research note on Wednesday, May 27th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $752.00 target price on shares of Deere & Company in a research report on Monday, June 1st. Finally, Barclays boosted their price target on Deere & Company from $530.00 to $640.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 31st. Fourteen investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $642.98.

Deere & Company Stock Up 3.0%

Shares of Deere & Company stock opened at $628.32 on Friday. The business has a 50-day moving average price of $585.05 and a 200 day moving average price of $576.08. Deere & Company has a fifty-two week low of $433.00 and a fifty-two week high of $674.19. The firm has a market cap of $169.61 billion, a P/E ratio of 35.60, a P/E/G ratio of 2.57 and a beta of 0.89. The company has a quick ratio of 1.95, a current ratio of 2.18 and a debt-to-equity ratio of 1.54.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, May 21st. The industrial products company reported $6.55 EPS for the quarter, topping analysts’ consensus estimates of $5.70 by $0.85. The company had revenue of $13.37 billion for 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%.Deere & Company’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter last year, the business posted $6.64 EPS. On average, sell-side analysts forecast that Deere & Company will post 18.28 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Investors of record on Tuesday, June 30th will be given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Tuesday, June 30th. Deere & Company’s dividend payout ratio is currently 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.