Private Advisor Group LLC trimmed its position in shares of Deere & Company (NYSE:DE) by 53.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,734 shares of the industrial products company’s stock after selling 17,869 shares during the quarter. Private Advisor Group LLC’s holdings in Deere & Company were worth $2,525,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. LeJeune Puetz Investment Counsel LLC bought a new position in shares of Deere & Company during the fourth quarter worth about $101,000. Cerebellum GP LLC bought a new position in shares of Deere & Company during the fourth quarter worth about $132,000. TCI Wealth Advisors Inc. raised its position in shares of Deere & Company by 107.3% during the fourth quarter. TCI Wealth Advisors Inc. now owns 885 shares of the industrial products company’s stock worth $139,000 after acquiring an additional 458 shares during the last quarter. Wealthcare Advisory Partners LLC bought a new position in shares of Deere & Company during the third quarter worth about $144,000. Finally, Moisand Fitzgerald Tamayo LLC bought a new position in shares of Deere & Company during the third quarter worth about $158,000. 66.84% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have recently issued reports on DE. Royal Bank of Canada upgraded Deere & Company from a “sector perform” rating to an “outperform” rating and lowered their price objective for the stock from $190.00 to $155.00 in a research report on Wednesday, January 10th. Wells Fargo & Co restated an “outperform” rating and set a $200.00 price objective (up from $170.00) on shares of Deere & Company in a research report on Wednesday, January 10th. Barclays upgraded Deere & Company from a “sector perform” rating to an “outperform” rating and set a $171.00 price objective for the company in a research report on Wednesday, January 10th. Zacks Investment Research downgraded Deere & Company from a “buy” rating to a “hold” rating in a report on Monday. Finally, Jefferies Group reiterated a “hold” rating and issued a $150.00 target price on shares of Deere & Company in a report on Thursday, November 23rd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. Deere & Company currently has a consensus rating of “Buy” and an average target price of $156.23.
Deere & Company (NYSE:DE) last announced its quarterly earnings data on Wednesday, November 22nd. The industrial products company reported $1.57 EPS for the quarter, beating the Zacks’ consensus estimate of $1.47 by $0.10. Deere & Company had a return on equity of 26.31% and a net margin of 7.22%. The firm had revenue of $7.09 billion during the quarter, compared to analysts’ expectations of $6.91 billion. During the same quarter last year, the firm posted $0.90 earnings per share. The company’s revenue for the quarter was up 25.6% compared to the same quarter last year. equities research analysts expect that Deere & Company will post 8.27 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 1st. Shareholders of record on Friday, December 29th were paid a $0.60 dividend. The ex-dividend date was Thursday, December 28th. This represents a $2.40 dividend on an annualized basis and a yield of 1.47%. Deere & Company’s dividend payout ratio (DPR) is presently 36.14%.
In other Deere & Company news, CFO Rajesh Kalathur sold 4,519 shares of the firm’s stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $148.92, for a total value of $672,969.48. Following the completion of the sale, the chief financial officer now owns 36,288 shares of the company’s stock, valued at $5,404,008.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider James M. Field sold 22,095 shares of the firm’s stock in a transaction that occurred on Friday, January 12th. The shares were sold at an average price of $170.06, for a total value of $3,757,475.70. Following the completion of the sale, the insider now directly owns 95,832 shares of the company’s stock, valued at approximately $16,297,189.92. The disclosure for this sale can be found here. Insiders sold 187,603 shares of company stock valued at $28,058,143 in the last three months. Insiders own 0.74% of the company’s stock.
Deere & Company Profile
Deere & Company is engaged in equipment operations. The Company is engaged in providing financial services. The Company operates through three business segments: agriculture and turf, construction and forestry, and financial services. The agriculture and turf segment manufactures and distributes a line of agriculture and turf equipment and related service parts.
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