Welch & Forbes LLC Sells 52 Shares of Deere & Company (NYSE:DE)

Posted by Defense World Staff on Jun 26th, 2023

Welch & Forbes LLC reduced its stake in Deere & Company (NYSE:DE – Get Rating) by 0.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,556 shares of the industrial products company’s stock after selling 52 shares during the quarter. Welch & Forbes LLC’s holdings in Deere & Company were worth $2,294,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in DE. Paragon Wealth Strategies LLC bought a new stake in Deere & Company in the 4th quarter valued at $26,000. Worth Asset Management LLC bought a new stake in Deere & Company in the 1st quarter valued at $28,000. Marshall & Sullivan Inc. WA acquired a new stake in Deere & Company in the 4th quarter valued at $32,000. Hollencrest Capital Management acquired a new stake in Deere & Company in the 4th quarter valued at $38,000. Finally, ST Germain D J Co. Inc. increased its stake in Deere & Company by 4.7% in the 4th quarter. ST Germain D J Co. Inc. now owns 1,573 shares of the industrial products company’s stock valued at $41,000 after buying an additional 71 shares during the last quarter. 71.33% of the stock is owned by institutional investors.

Insider Buying and Selling at Deere & Company

In other Deere & Company news, insider Pentz Markwart Von sold 27,933 shares of the business’s stock in a transaction dated Wednesday, June 7th. The shares were sold at an average price of $381.59, for a total value of $10,658,953.47. Following the completion of the sale, the insider now owns 57,115 shares of the company’s stock, valued at approximately $21,794,512.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Tami A. Erwin purchased 675 shares of the business’s stock in a transaction dated Tuesday, June 6th. The stock was bought at an average price of $371.05 per share, with a total value of $250,458.75. Following the acquisition, the director now owns 950 shares in the company, valued at approximately $352,497.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Pentz Markwart Von sold 27,933 shares of the company’s stock in a transaction that occurred on Wednesday, June 7th. The stock was sold at an average price of $381.59, for a total transaction of $10,658,953.47. Following the sale, the insider now directly owns 57,115 shares of the company’s stock, valued at approximately $21,794,512.85. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.

Deere & Company Stock Performance

Shares of DE stock opened at $404.45 on Monday. The company has a market capitalization of $118.58 billion, a price-to-earnings ratio of 13.57, a PEG ratio of 0.99 and a beta of 1.03. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.70 and a current ratio of 1.96. The company has a 50-day simple moving average of $379.42 and a 200 day simple moving average of $402.67. Deere & Company has a 52 week low of $283.81 and a 52 week high of $448.40.

Deere & Company (NYSE:DE – Get Rating) last announced its earnings results on Friday, May 19th. The industrial products company reported $9.65 EPS for the quarter, topping the consensus estimate of $8.57 by $1.08. The business had revenue of $16.08 billion during the quarter, compared to the consensus estimate of $14.87 billion. Deere & Company had a net margin of 15.00% and a return on equity of 43.11%. Deere & Company’s revenue was up 33.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $6.81 EPS. On average, sell-side analysts predict that Deere & Company will post 31.91 earnings per share for the current year.

Deere & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 8th. Shareholders of record on Friday, June 30th will be issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date is Thursday, June 29th. Deere & Company’s dividend payout ratio is currently 16.78%.

Analysts Set New Price Targets

Several brokerages have issued reports on DE. Sanford C. Bernstein lowered their price target on shares of Deere & Company from $398.00 to $367.00 in a research note on Monday, May 15th. Wells Fargo & Company lowered their price target on shares of Deere & Company from $510.00 to $490.00 in a research note on Monday, May 22nd. Stifel Nicolaus lowered their price target on shares of Deere & Company from $500.00 to $493.00 in a research note on Monday, May 22nd. Evercore ISI lowered their price target on shares of Deere & Company from $455.00 to $418.00 in a research note on Tuesday, May 9th. Finally, Robert W. Baird lowered their price target on shares of Deere & Company from $512.00 to $445.00 in a research note on Monday, May 22nd. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $442.67.

About Deere & Company

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Deere & Company manufactures and distributes 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 mid-size tractors, combines, cotton pickers and strippers, sugarcane harvesters, harvesting front-end equipment, sugarcane loaders, 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.