Sei Investments Co. Reduces Stock Position in Deere & Company $DE

Sei Investments Co. decreased its position in Deere & Company (NYSE:DE) by 19.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 119,585 shares of the industrial products company’s stock after selling 28,746 shares during the quarter. Sei Investments Co.’s holdings in Deere & Company were worth $67,360,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in DE. Vanguard Group Inc. raised its position in shares of Deere & Company by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 22,583,185 shares of the industrial products company’s stock valued at $10,514,053,000 after buying an additional 198,332 shares during the last quarter. State Street Corp boosted its position in Deere & Company by 0.9% during the fourth quarter. State Street Corp now owns 10,485,949 shares of the industrial products company’s stock worth $4,898,717,000 after acquiring an additional 97,049 shares during the last quarter. Capital World Investors boosted its position in Deere & Company by 53.9% during the fourth quarter. Capital World Investors now owns 9,592,004 shares of the industrial products company’s stock worth $4,465,906,000 after acquiring an additional 3,358,264 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in Deere & Company by 2.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,692,877 shares of the industrial products company’s stock worth $3,581,574,000 after acquiring an additional 158,584 shares during the period. Finally, Geode Capital Management LLC grew its stake in Deere & Company by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 5,600,552 shares of the industrial products company’s stock worth $2,609,149,000 after acquiring an additional 17,269 shares during the period. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on DE shares. Truist Financial increased their price target on Deere & Company from $759.00 to $812.00 and gave the stock a “buy” rating in a research note on Thursday, July 2nd. Robert W. Baird lowered their price objective on Deere & Company from $580.00 to $525.00 and set a “neutral” rating for the company in a research report on Friday, May 22nd. Oppenheimer reiterated an “outperform” rating and issued a $680.00 target price (down from $715.00) on shares of Deere & Company in a research note on Wednesday, May 27th. Royal Bank Of Canada reiterated an “outperform” rating and set a $752.00 target price on shares of Deere & Company in a research report on Monday, June 1st. Finally, Wolfe Research raised their price target on Deere & Company from $550.00 to $660.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 31st. Fourteen analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, Deere & Company has an average rating of “Moderate Buy” and an average target price of $642.98.

Deere & Company Stock Up 3.0%

Shares of DE opened at $628.32 on Friday. The firm has a market cap of $169.61 billion, a PE ratio of 35.60, a price-to-earnings-growth ratio of 2.57 and a beta of 0.89. The company’s fifty day moving average is $585.05 and its two-hundred day moving average is $576.08. Deere & Company has a fifty-two week low of $433.00 and a fifty-two week high of $674.19. The company has a quick ratio of 1.95, a current ratio of 2.18 and a debt-to-equity ratio of 1.54.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, May 21st. The industrial products company reported $6.55 EPS for the quarter, topping analysts’ consensus estimates of $5.70 by $0.85. The business had revenue of $13.37 billion during the quarter, compared to the consensus estimate of $11.55 billion. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.The business’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period in the prior year, the firm posted $6.64 EPS. Analysts forecast that Deere & Company will post 18.28 earnings per share for the current year.

Deere & Company Dividend Announcement

The company 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. This represents a $6.48 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Tuesday, June 30th. 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.