Deere & Company (NYSE:DE) Shares Sold by AAFMAA Wealth Management & Trust LLC

AAFMAA Wealth Management & Trust LLC reduced its holdings in Deere & Company (NYSE:DE) by 9.5% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 2,626 shares of the industrial products company’s stock after selling 277 shares during the period. AAFMAA Wealth Management & Trust LLC’s holdings in Deere & Company were worth $1,233,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of DE. Compass Financial Services Inc acquired a new stake in shares of Deere & Company in the 4th quarter worth $254,000. Banque Pictet & Cie SA grew its holdings in shares of Deere & Company by 2.0% in the fourth quarter. Banque Pictet & Cie SA now owns 78,274 shares of the industrial products company’s stock valued at $33,165,000 after purchasing an additional 1,500 shares during the period. Spectrum Financial Alliance Ltd LLC increased its position in Deere & Company by 2.9% during the fourth quarter. Spectrum Financial Alliance Ltd LLC now owns 49,613 shares of the industrial products company’s stock worth $21,021,000 after purchasing an additional 1,407 shares during the last quarter. Generali Investments CEE investicni spolecnost a.s. purchased a new position in Deere & Company during the fourth quarter worth about $847,000. Finally, BankPlus Trust Department purchased a new position in Deere & Company during the fourth quarter worth about $1,127,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Stock Performance

Shares of Deere & Company stock opened at $519.62 on Friday. The business has a 50-day moving average of $479.20 and a 200 day moving average of $465.95. Deere & Company has a 12 month low of $340.20 and a 12 month high of $533.78. The stock has a market capitalization of $140.73 billion, a price-to-earnings ratio of 23.03, a price-to-earnings-growth ratio of 2.14 and a beta of 1.09. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.22 and a quick ratio of 1.98.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.72 by $0.92. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. The business had revenue of $11.17 billion for the quarter, compared to analysts’ expectations of $10.80 billion. During the same quarter in the prior year, the company earned $8.53 earnings per share. The business’s quarterly revenue was down 17.9% on a year-over-year basis. As a group, sell-side analysts forecast that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Monday, June 30th will be paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 1.25%. The ex-dividend date of this dividend is Monday, June 30th. Deere & Company’s payout ratio is currently 31.35%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Raymond James increased their price target on shares of Deere & Company from $530.00 to $560.00 and gave the company an “outperform” rating in a research note on Friday, May 16th. Truist Financial increased their price objective on Deere & Company from $546.00 to $619.00 and gave the stock a “buy” rating in a research report on Friday, May 16th. The Goldman Sachs Group reissued a “buy” rating on shares of Deere & Company in a research note on Thursday, May 15th. Robert W. Baird upped their price target on Deere & Company from $501.00 to $514.00 and gave the company a “neutral” rating in a research note on Friday, May 16th. Finally, UBS Group cut their price objective on Deere & Company from $462.00 to $440.00 and set a “neutral” rating for the company in a research report on Monday, April 7th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Deere & Company presently has an average rating of “Hold” and an average price target of $515.19.

About Deere & Company

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.