Stonehearth Capital Management LLC Cuts Stock Position in Deere & Company (NYSE:DE)

Stonehearth Capital Management LLC decreased its position in Deere & Company (NYSE:DEFree Report) by 19.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 591 shares of the industrial products company’s stock after selling 139 shares during the quarter. Stonehearth Capital Management LLC’s holdings in Deere & Company were worth $243,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Morgan Stanley lifted its position in Deere & Company by 1.3% in the third quarter. Morgan Stanley now owns 5,089,159 shares of the industrial products company’s stock valued at $1,920,548,000 after purchasing an additional 65,006 shares during the last quarter. FMR LLC boosted its position in Deere & Company by 6.6% during the 3rd quarter. FMR LLC now owns 4,374,282 shares of the industrial products company’s stock valued at $1,650,767,000 after buying an additional 269,571 shares during the period. Parnassus Investments LLC boosted its position in 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 valued at $1,541,967,000 after buying an additional 705,771 shares during the period. Norges Bank bought a new stake in Deere & Company in the 4th quarter worth $1,248,036,000. Finally, Northern Trust Corp increased its position in shares of Deere & Company by 2.5% in the third quarter. Northern Trust Corp now owns 3,061,715 shares of the industrial products company’s stock valued at $1,155,430,000 after acquiring an additional 73,601 shares during the period. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Evercore ISI raised their target price on shares of Deere & Company from $381.00 to $387.00 and gave the stock an “in-line” rating in a research report on Tuesday, February 20th. Truist Financial initiated coverage on Deere & Company in a report on Thursday, March 14th. They issued a “buy” rating and a $494.00 target price on the stock. Stifel Nicolaus boosted their price objective on shares of Deere & Company from $425.00 to $450.00 and gave the stock a “buy” rating in a report on Friday, May 17th. Oppenheimer restated an “outperform” rating and set a $456.00 target price on shares of Deere & Company in a research note on Thursday, May 16th. Finally, Morgan Stanley lifted their price objective on Deere & Company from $430.00 to $450.00 in a report on Wednesday, May 15th. Ten research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, Deere & Company presently has a consensus rating of “Moderate Buy” and a consensus price target of $433.36.

Check Out Our Latest Analysis on Deere & Company

Deere & Company Trading Up 0.9 %

DE traded up $3.54 during trading hours on Tuesday, reaching $382.76. 1,200,414 shares of the company’s stock traded hands, compared to its average volume of 1,459,256. The firm has a 50-day moving average price of $389.76 and a 200 day moving average price of $386.51. The firm has a market capitalization of $105.48 billion, a PE ratio of 11.42, a PEG ratio of 1.52 and a beta of 0.98. The company has a quick ratio of 1.80, a current ratio of 2.01 and a debt-to-equity ratio of 1.81. Deere & Company has a 52-week low of $353.15 and a 52-week high of $450.00.

Deere & Company (NYSE:DEGet Free Report) last released its quarterly earnings data on Thursday, May 16th. The industrial products company reported $8.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.86 by $0.67. Deere & Company had a net margin of 16.15% and a return on equity of 42.26%. The company had revenue of $13.61 billion during the quarter, compared to analysts’ expectations of $13.29 billion. During the same period in the previous year, the company earned $9.65 EPS. The firm’s quarterly revenue was down 15.4% on a year-over-year basis. As a group, sell-side analysts predict that Deere & Company will post 25.61 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 8th. Shareholders of record on Friday, June 28th will be issued 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 Friday, June 28th. Deere & Company’s payout ratio is 17.70%.

Deere & Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Deere & Company (NYSE:DE)

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