Allen Investment Management LLC Sells 71 Shares of Deere & Company (NYSE:DE)

Allen Investment Management LLC lessened its holdings in Deere & Company (NYSE:DE) by 11.1% during the first quarter, HoldingsChannel.com reports. The firm owned 566 shares of the industrial products company’s stock after selling 71 shares during the period. Allen Investment Management LLC’s holdings in Deere & Company were worth $232,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in DE. Silver Oak Securities Incorporated increased its holdings in Deere & Company by 19.8% during the third quarter. Silver Oak Securities Incorporated now owns 985 shares of the industrial products company’s stock worth $372,000 after buying an additional 163 shares during the last quarter. GUNN & Co INVESTMENT MANAGEMENT INC. acquired a new position in Deere & Company during the third quarter worth $360,000. Public Sector Pension Investment Board increased its holdings in Deere & Company by 13.1% during the third quarter. Public Sector Pension Investment Board now owns 29,208 shares of the industrial products company’s stock worth $11,023,000 after buying an additional 3,387 shares during the last quarter. EP Wealth Advisors LLC increased its holdings in Deere & Company by 187.3% during the third quarter. EP Wealth Advisors LLC now owns 2,591 shares of the industrial products company’s stock worth $978,000 after buying an additional 1,689 shares during the last quarter. Finally, American Century Companies Inc. increased its holdings in Deere & Company by 17.9% during the third quarter. American Century Companies Inc. now owns 198,054 shares of the industrial products company’s stock worth $74,742,000 after buying an additional 30,057 shares during the last quarter. Institutional investors own 68.58% of the company’s stock.

Insiders Place Their Bets

In other news, insider Cory J. Reed sold 13,370 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $377.63, for a total value of $5,048,913.10. Following the sale, the insider now directly owns 41,642 shares in the company, valued at approximately $15,725,268.46. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.26% of the company’s stock.

Deere & Company Price Performance

Deere & Company stock traded up $3.73 during trading hours on Friday, reaching $365.33. 1,035,110 shares of the stock were exchanged, compared to its average volume of 1,662,966. The company has a market cap of $100.67 billion, a P/E ratio of 11.00, a price-to-earnings-growth ratio of 1.46 and a beta of 0.93. The company has a current ratio of 2.01, a quick ratio of 1.80 and a debt-to-equity ratio of 1.81. Deere & Company has a twelve month low of $345.93 and a twelve month high of $450.00. The stock has a 50 day moving average of $378.08 and a two-hundred day moving average of $385.16.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, May 16th. The industrial products company reported $8.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.86 by $0.67. The firm had revenue of $13.61 billion for the quarter, compared to the consensus estimate of $13.29 billion. Deere & Company had a net margin of 16.15% and a return on equity of 42.26%. The business’s revenue for the quarter was down 15.4% on a year-over-year basis. During the same period in the prior year, the company posted $9.65 earnings per share. Equities analysts expect that Deere & Company will post 25.56 EPS for the current fiscal year.

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 8th. Shareholders of record on Friday, June 28th will be paid a dividend of $1.47 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $5.88 dividend on an annualized basis and a yield of 1.61%. Deere & Company’s payout ratio is 17.70%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Truist Financial lowered their target price on shares of Deere & Company from $460.00 to $439.00 and set a “buy” rating on the stock in a report on Tuesday, July 2nd. Morgan Stanley increased their price objective on shares of Deere & Company from $430.00 to $450.00 in a research report on Wednesday, May 15th. TD Cowen increased their price objective on shares of Deere & Company from $383.00 to $390.00 and gave the company a “hold” rating in a research report on Friday, May 17th. Stifel Nicolaus increased their price objective on shares of Deere & Company from $425.00 to $450.00 and gave the company a “buy” rating in a research report on Friday, May 17th. Finally, Raymond James started coverage on shares of Deere & Company in a research report on Friday, June 28th. They issued an “outperform” rating and a $420.00 price objective on the stock. Eleven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $427.13.

Deere & Company Company Profile

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.