Integrity Advisory Solutions LLC Purchases New Position in Deere & Company $DE

Integrity Advisory Solutions LLC acquired a new stake in shares of Deere & Company (NYSE:DE) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 1,613 shares of the industrial products company’s stock, valued at approximately $738,000.

Several other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in shares of Deere & Company by 1.4% during the 2nd quarter. Vanguard Group Inc. now owns 22,372,671 shares of the industrial products company’s stock worth $11,376,279,000 after purchasing an additional 309,081 shares during the last quarter. State Street Corp boosted its holdings in Deere & Company by 0.6% in the second quarter. State Street Corp now owns 10,386,268 shares of the industrial products company’s stock worth $5,297,913,000 after purchasing an additional 64,262 shares in the last quarter. Geode Capital Management LLC increased its position in Deere & Company by 2.1% during the second quarter. Geode Capital Management LLC now owns 5,541,778 shares of the industrial products company’s stock worth $2,810,807,000 after buying an additional 111,627 shares during the last quarter. Norges Bank bought a new position in Deere & Company during the second quarter valued at about $1,578,243,000. Finally, Fisher Asset Management LLC raised its holdings in Deere & Company by 5.5% during the third quarter. Fisher Asset Management LLC now owns 2,722,018 shares of the industrial products company’s stock valued at $1,244,670,000 after buying an additional 141,790 shares in the last quarter. 68.58% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

DE has been the subject of several recent analyst reports. Bank of America upped their price target on Deere & Company from $502.00 to $672.00 and gave the stock a “neutral” rating in a research note on Friday, February 20th. Truist Financial upped their target price on Deere & Company from $612.00 to $793.00 and gave the stock a “buy” rating in a research report on Friday, February 20th. Oppenheimer reissued an “outperform” rating and issued a $715.00 price target on shares of Deere & Company in a research report on Friday, February 20th. Evercore restated a “positive” rating on shares of Deere & Company in a research note on Friday, November 28th. Finally, Jefferies Financial Group lowered shares of Deere & Company from a “hold” rating to an “underperform” rating and raised their target price for the company from $475.00 to $550.00 in a research note on Monday, February 23rd. Sixteen investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Deere & Company presently has an average rating of “Moderate Buy” and a consensus price target of $647.20.

Insider Activity

In other Deere & Company news, insider Cory J. Reed sold 12,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 14th. The stock was sold at an average price of $510.00, for a total value of $6,120,000.00. Following the completion of the transaction, the insider owned 20,792 shares of the company’s stock, valued at $10,603,920. This represents a 36.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO John C. May II sold 41,472 shares of Deere & Company stock in a transaction that occurred on Thursday, January 8th. The stock was sold at an average price of $501.49, for a total value of $20,797,793.28. Following the sale, the chief executive officer directly owned 117,970 shares in the company, valued at $59,160,775.30. The trade was a 26.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.29% of the stock is currently owned by company insiders.

Deere & Company Trading Down 3.9%

Shares of Deere & Company stock opened at $590.15 on Friday. The company’s fifty day simple moving average is $549.53 and its 200-day simple moving average is $498.82. The company has a market cap of $159.41 billion, a price-to-earnings ratio of 33.27, a PEG ratio of 2.16 and a beta of 0.96. The company has a current ratio of 2.21, a quick ratio of 1.96 and a debt-to-equity ratio of 1.59. Deere & Company has a 1 year low of $404.42 and a 1 year high of $674.19.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, February 19th. The industrial products company reported $2.42 EPS for the quarter, beating the consensus estimate of $1.90 by $0.52. Deere & Company had a net margin of 10.29% and a return on equity of 18.93%. The firm had revenue of $9.61 billion during the quarter, compared to analysts’ expectations of $7.50 billion. During the same period in the prior year, the company earned $3.19 EPS. The business’s quarterly revenue was up 17.5% compared to the same quarter last year. As a group, sell-side analysts expect that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 8th. Investors of record on Tuesday, March 31st will be paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Tuesday, March 31st. Deere & Company’s dividend payout ratio (DPR) is presently 36.53%.

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.