KLCM Advisors Inc. Sells 2,000 Shares of Deere & Company $DE

KLCM Advisors Inc. lowered its holdings in shares of Deere & Company (NYSE:DE) by 45.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,400 shares of the industrial products company’s stock after selling 2,000 shares during the quarter. KLCM Advisors Inc.’s holdings in Deere & Company were worth $1,352,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Strategic Advocates LLC acquired a new stake in Deere & Company during the 3rd quarter worth approximately $25,000. Portus Wealth Advisors LLC acquired a new position in shares of Deere & Company in the first quarter valued at approximately $32,000. Key Capital Management INC bought a new stake in shares of Deere & Company during the fourth quarter worth $27,000. Timmons Wealth Management LLC bought a new stake in shares of Deere & Company during the fourth quarter worth $29,000. Finally, McIlrath & Eck LLC acquired a new stake in shares of Deere & Company during the fourth quarter worth $30,000. Institutional investors own 68.58% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Barclays upped their target price on shares of Deere & Company from $530.00 to $640.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 31st. Royal Bank Of Canada restated an “outperform” rating and issued a $752.00 price target on shares of Deere & Company in a report on Monday, June 1st. Robert W. Baird reduced 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. DA Davidson decreased their price objective on Deere & Company from $775.00 to $685.00 and set a “buy” rating for the company in a report on Friday, May 22nd. Finally, Truist Financial lifted their target price on Deere & Company from $759.00 to $812.00 and gave the company a “buy” rating in a research report on Thursday, July 2nd. Fourteen equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $642.23.

Deere & Company Stock Down 0.9%

NYSE:DE traded down $5.54 on Friday, hitting $587.36. 782,098 shares of the company’s stock were exchanged, compared to its average volume of 1,174,307. The firm has a 50-day moving average price of $581.74 and a 200-day moving average price of $566.99. Deere & Company has a 52 week low of $433.00 and a 52 week high of $674.19. The company has a debt-to-equity ratio of 1.54, a current ratio of 2.18 and a quick ratio of 1.95. The company has a market cap of $158.55 billion, a P/E ratio of 33.28, a price-to-earnings-growth ratio of 2.19 and a beta of 0.89.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, May 21st. The industrial products company reported $6.55 earnings per share for the quarter, beating the consensus estimate of $5.70 by $0.85. The company had revenue of $13.37 billion during the quarter, compared to analysts’ expectations of $11.55 billion. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.Deere & Company’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter last year, the company earned $6.64 EPS. As a group, analysts expect that Deere & Company will post 18.13 EPS for the current fiscal year.

Deere & Company Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Tuesday, June 30th. Deere & Company’s dividend payout ratio (DPR) is currently 36.71%.

Deere & Company News Roundup

Here are the key news stories impacting Deere & Company this week:

• Positive Sentiment: D.A. Davidson’s new coverage on AGCO highlighted that weak farm conditions can still support equipment makers like Deere, reinforcing the view that replacement demand and pricing power may hold up better than expected for agricultural OEMs. Farming Is Terrible Right Now. That’s Good for Deere and AGCO Stocks.
• Positive Sentiment: Jim Cramer was upbeat on Deere, calling the stock “incredible” and suggesting it still has room to go higher, which may help sentiment around the shares. Jim Cramer on Deere & Company: “The Stock Is Incredible, and It’s Not Done Going Higher”
• Neutral Sentiment: An analyst report on Deere was published, but no clear thesis or rating details were provided in the feed, so it is likely a limited near-term catalyst. Analyst Report: Deere & Co
• Negative Sentiment: Deere settled a right-to-repair dispute with the FTC, requiring it to provide farmers and independent repair providers the same repair resources as authorized dealers for 10 years. Investors may see this as a hit to Deere’s control over service revenue and after-sales economics. Deere settles right to repair dispute with FTC

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.