Deere & Company (NYSE:DE) Shares Unloaded Rep. Dan Newhouse
π Rep. Dan Newhouse sold between $1,001 and $15,000 of Deere & Company (NYSE:DE) shares on July 10th via his IRA account.
π DE stock opened at $586.13 with a market cap of $158.22 billion and a P/E ratio of 33.21.
π° The company declared a quarterly dividend of $1.62 per share, payable on August 10th to shareholders of record by June 30th.
π Institutional ownership stands at 68.58%, with hedge funds like Anchyra Partners and Advisortrust increasing their holdings recently.
π¦ Analyst ratings are mixed, featuring a price target cut by Bank of America to $607.50 and an increase by Wolfe Research to $660.
π The stock trades between its 12-month low of $433.00 and high of $674.19 with a beta of 0.89.
Bullish Signals
- Multiple hedge funds, including Anchyra Partners LLC and Advisortrust Partners LLC, increased their holdings in Deere & Company by 0.5% to 2.0% respectively during the first quarter.
- Wolfe Research raised its price target on DE from $550.00 to $660.00 and maintained an 'outperform' rating.
- The company maintains a healthy payout ratio of 36.71% with a current ratio of 2.18 and quick ratio of 1.95.
Risk Factors
- Bank of America cut its price objective on Deere & Company from $672.00 to $607.50 and downgraded the rating to 'neutral'.
- Robert W. Baird lowered its price target from $580.00 to $525.00 and issued a 'neutral' rating.
- Oppenheimer reduced its price target on DE from $715.00 to $680.00, though it kept the 'outperform' rating.
Full Analysis
Representative Dan Newhouse, a Republican from Washington's 4th Congressional District, disclosed the sale of between $1,001 and $15,000 worth of Deere & Company (NYSE:DE) stock on July 10th. The transaction occurred within his Edward Jones IRA account, marking a reduction in his personal holdings of the agricultural machinery manufacturer.
Deere & Company shares opened at $586.13, trading with a market capitalization of $158.22 billion and a price-to-earnings ratio of 33.21. The company recently announced a quarterly dividend of $1.62 per share, payable on August 10th to shareholders of record as of June 30th, resulting in an annualized yield of 1.1%.
Institutional ownership remains significant at 68.58%, with several hedge funds increasing their positions in the first quarter or fourth quarter of the previous year. Analyst sentiment is mixed, with recent price target adjustments ranging from a cut by Bank of America to an increase by Wolfe Research, maintaining a consensus rating of Moderate Buy.
The article provides extensive background on Representative Newhouse's political career and detailed financial metrics for Deere & Company, including balance sheet ratios and moving averages. While the text includes promotional material for a newsletter and biographical details about the representative, the core content focuses on the insider trading disclosure and current stock valuation data.