Deere & Company (NYSE:DE) Shares Sold by Patten & Patten Inc. TN

Patten & Patten Inc. TN lowered its stake in shares of Deere & Company (NYSE:DE) by 9.4% during the first quarter, Holdings Channel reports. The firm owned 2,158 shares of the industrial products company’s stock after selling 225 shares during the period. Patten & Patten Inc. TN’s holdings in Deere & Company were worth $886,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of DE. Tompkins Financial Corp lifted its stake in Deere & Company by 2.6% in the first quarter. Tompkins Financial Corp now owns 981 shares of the industrial products company’s stock valued at $403,000 after buying an additional 25 shares during the last quarter. Essex Savings Bank raised its position in Deere & Company by 0.5% in the 4th quarter. Essex Savings Bank now owns 5,367 shares of the industrial products company’s stock valued at $2,146,000 after purchasing an additional 26 shares during the last quarter. Global Retirement Partners LLC boosted its stake in Deere & Company by 0.7% during the 1st quarter. Global Retirement Partners LLC now owns 3,768 shares of the industrial products company’s stock worth $1,548,000 after purchasing an additional 26 shares during the period. Valley National Advisers Inc. grew its position in Deere & Company by 1.5% during the 4th quarter. Valley National Advisers Inc. now owns 1,879 shares of the industrial products company’s stock worth $751,000 after purchasing an additional 27 shares during the last quarter. Finally, Bleakley Financial Group LLC increased its stake in Deere & Company by 0.5% in the fourth quarter. Bleakley Financial Group LLC now owns 5,158 shares of the industrial products company’s stock valued at $2,063,000 after purchasing an additional 27 shares during the period. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Price Performance

DE traded up $1.36 on Monday, hitting $379.42. 1,071,199 shares of the company were exchanged, compared to its average volume of 1,507,138. Deere & Company has a fifty-two week low of $345.93 and a fifty-two week high of $450.00. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.80 and a current ratio of 2.01. The firm has a market capitalization of $104.56 billion, a P/E ratio of 11.42, a price-to-earnings-growth ratio of 1.53 and a beta of 0.93. The business’s fifty day moving average is $375.35 and its 200 day moving average is $384.22.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, May 16th. The industrial products company reported $8.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.86 by $0.67. Deere & Company had a return on equity of 42.26% and a net margin of 16.15%. The business had revenue of $13.61 billion during the quarter, compared to the consensus estimate of $13.29 billion. During the same quarter in the previous year, the company posted $9.65 EPS. The business’s revenue was down 15.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Deere & Company will post 25.49 EPS for the current year.

Deere & Company Dividend Announcement

The business 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 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date is Friday, June 28th. Deere & Company’s dividend payout ratio (DPR) is presently 17.70%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on DE. Morgan Stanley increased their target price on shares of Deere & Company from $430.00 to $450.00 in a research note on Wednesday, May 15th. Truist Financial decreased their price objective on Deere & Company from $460.00 to $439.00 and set a “buy” rating for the company in a research report on Tuesday, July 2nd. JPMorgan Chase & Co. lowered their target price on Deere & Company from $385.00 to $375.00 and set a “neutral” rating on the stock in a research note on Thursday, July 11th. Stifel Nicolaus upped their price target on Deere & Company from $425.00 to $450.00 and gave the stock a “buy” rating in a research note on Friday, May 17th. Finally, DA Davidson decreased their price target on Deere & Company from $483.00 to $465.00 and set a “buy” rating for the company in a report on Monday, May 20th. Eleven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $426.71.

Insiders Place Their Bets

In related news, insider Cory J. Reed sold 13,370 shares of the business’s stock in a transaction dated 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 completion of the transaction, the insider now owns 41,642 shares of the company’s stock, valued at approximately $15,725,268.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.26% of the stock is currently owned by company insiders.

Deere & 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.