Greenwood Capital Associates LLC Has $5.06 Million Stake in Deere & Company $DE

Greenwood Capital Associates LLC lowered its stake in shares of Deere & Company (NYSE:DE) by 22.8% during the first quarter, Holdings Channel.com reports. The institutional investor owned 8,986 shares of the industrial products company’s stock after selling 2,661 shares during the quarter. Greenwood Capital Associates LLC’s holdings in Deere & Company were worth $5,062,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Anchyra Partners LLC raised its position in shares of Deere & Company by 0.5% in the 1st quarter. Anchyra Partners LLC now owns 3,191 shares of the industrial products company’s stock valued at $1,797,000 after acquiring an additional 17 shares during the period. William B. Walkup & Associates Inc. boosted its stake in Deere & Company by 0.6% during the 1st quarter. William B. Walkup & Associates Inc. now owns 2,908 shares of the industrial products company’s stock worth $1,638,000 after acquiring an additional 17 shares during the last quarter. Cerro Pacific Wealth Advisors LLC grew its holdings in Deere & Company by 0.6% during the fourth quarter. Cerro Pacific Wealth Advisors LLC now owns 3,179 shares of the industrial products company’s stock valued at $1,480,000 after purchasing an additional 19 shares during the period. Hazlett Burt & Watson Inc. grew its holdings in Deere & Company by 2.4% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 816 shares of the industrial products company’s stock valued at $379,000 after purchasing an additional 19 shares during the period. Finally, Root Financial Partners LLC increased its stake in Deere & Company by 2.2% in the fourth quarter. Root Financial Partners LLC now owns 880 shares of the industrial products company’s stock valued at $410,000 after purchasing an additional 19 shares in the last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

DE has been the topic of several analyst reports. JPMorgan Chase & Co. increased their target price on shares of Deere & Company from $560.00 to $590.00 and gave the stock a “neutral” rating in a report on Thursday, June 4th. DA Davidson decreased their price target on shares of Deere & Company from $775.00 to $685.00 and set a “buy” rating for the company in a report on Friday, May 22nd. Raymond James Financial lowered their price objective on shares of Deere & Company from $765.00 to $700.00 and set an “outperform” rating for the company in a research report on Friday, May 22nd. Robert W. Baird decreased their target price on Deere & Company from $580.00 to $525.00 and set a “neutral” rating for the company in a research note on Friday, May 22nd. Finally, Bank of America lowered their price target on Deere & Company from $672.00 to $607.50 and set a “neutral” rating for the company in a report on Friday, May 22nd. Fourteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $642.23.

Key Stories Impacting Deere & Company

Here are the key news stories impacting Deere & Company this week:

• Positive Sentiment: The settlement removes a major legal overhang and uncertainty tied to Deere’s right-to-repair antitrust dispute. WI DOJ announces settlement in antitrust lawsuit against Deere & Company
• Positive Sentiment: Deere said the agreement reinforces its commitment to diagnostic and repair tools for farmers, which may help limit further regulatory pressure and support customer relationships. John Deere Reinforces Commitment to Diagnostic and Repair Tools for Farmers Under Agreement with FTC and States
• Neutral Sentiment: Investors are also still watching Deere’s broader fundamentals, including softer large-agriculture demand and a valuation that has already recovered significantly from earlier lows. Deere Falls as Investors Revisit Large-Ag Weakness and Valuation Risk
• Negative Sentiment: The right-to-repair deal may pressure Deere’s control over equipment servicing and could narrow profit opportunities in its high-margin aftermarket ecosystem over time. Settlement announced in Deere antitrust lawsuit

Deere & Company Stock Down 1.2%

DE stock opened at $596.64 on Thursday. Deere & Company has a fifty-two week low of $433.00 and a fifty-two week high of $674.19. The company has a debt-to-equity ratio of 1.54, a current ratio of 2.18 and a quick ratio of 1.95. The business has a 50-day moving average of $580.63 and a 200-day moving average of $565.99. The stock has a market capitalization of $161.06 billion, a P/E ratio of 33.80, a P/E/G ratio of 2.23 and a beta of 0.89.

Deere & Company (NYSE:DE) last posted 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. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. The company had revenue of $13.37 billion for the quarter, compared to the consensus estimate of $11.55 billion. During the same period last year, the company earned $6.64 earnings per share. The firm’s revenue was up 5.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Deere & Company will post 18.13 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

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

Deere & Company 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.