Deere & Company $DE Stock Holdings Lessened by Punch & Associates Investment Management Inc.

Punch & Associates Investment Management Inc. lessened its stake in shares of Deere & Company (NYSE:DE) by 41.1% in the first quarter, according to its most recent filing with the SEC. The fund owned 13,810 shares of the industrial products company’s stock after selling 9,628 shares during the period. Punch & Associates Investment Management Inc.’s holdings in Deere & Company were worth $7,779,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Anchyra Partners LLC grew its holdings in shares of Deere & Company by 0.5% in the 1st quarter. Anchyra Partners LLC now owns 3,191 shares of the industrial products company’s stock worth $1,797,000 after acquiring an additional 17 shares during the last quarter. William B. Walkup & Associates Inc. raised its position in shares of Deere & Company by 0.6% during the first quarter. William B. Walkup & Associates Inc. now owns 2,908 shares of the industrial products company’s stock worth $1,638,000 after purchasing an additional 17 shares during the period. Advisortrust Partners LLC lifted its holdings in shares of Deere & Company by 2.0% during the first quarter. Advisortrust Partners LLC now owns 914 shares of the industrial products company’s stock valued at $515,000 after purchasing an additional 18 shares during the last quarter. Cerro Pacific Wealth Advisors LLC boosted its position in shares of Deere & Company by 0.6% in the 4th quarter. Cerro Pacific Wealth Advisors LLC now owns 3,179 shares of the industrial products company’s stock valued at $1,480,000 after purchasing an additional 19 shares during the period. Finally, Hazlett Burt & Watson Inc. boosted its position in shares of Deere & Company by 2.4% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 816 shares of the industrial products company’s stock valued at $379,000 after purchasing an additional 19 shares during the period. 68.58% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have commented on DE. Robert W. Baird reduced their price objective on shares of Deere & Company from $580.00 to $525.00 and set a “neutral” rating for the company in a research note on Friday, May 22nd. Truist Financial raised their target price on shares of Deere & Company from $759.00 to $812.00 and gave the stock a “buy” rating in a report on Thursday, July 2nd. Royal Bank Of Canada reissued an “outperform” rating and issued a $752.00 target price on shares of Deere & Company in a research report on Monday, June 1st. Raymond James Financial cut their price target on shares of Deere & Company from $765.00 to $700.00 and set an “outperform” rating on the stock in a report on Friday, May 22nd. Finally, JPMorgan Chase & Co. upped their price target on shares of Deere & Company from $560.00 to $590.00 and gave the company a “neutral” rating in a research report on Thursday, June 4th. Fourteen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $642.98.

Deere & Company Trading Up 3.0%

Shares of NYSE DE opened at $628.32 on Friday. The company has a current ratio of 2.18, a quick ratio of 1.95 and a debt-to-equity ratio of 1.54. Deere & Company has a one year low of $433.00 and a one year high of $674.19. The business has a 50-day moving average price of $585.05 and a two-hundred day moving average price of $576.08. The firm has a market capitalization of $169.61 billion, a PE ratio of 35.60, a PEG ratio of 2.65 and a beta of 0.89.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share for the quarter, beating analysts’ consensus estimates of $5.70 by $0.85. The company had revenue of $13.37 billion for 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 firm’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $6.64 EPS. As a group, analysts predict that Deere & Company will post 18.28 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Tuesday, June 30th will be paid a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 1.0%. The ex-dividend date is Tuesday, June 30th. Deere & Company’s dividend payout ratio is currently 36.71%.

Deere & 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.