Prestige Wealth Management Group LLC Cuts Stock Position in Deere & Company (NYSE:DE)

Prestige Wealth Management Group LLC trimmed its position in shares of Deere & Company (NYSE:DE) by 25.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 73 shares of the industrial products company’s stock after selling 25 shares during the quarter. Prestige Wealth Management Group LLC’s holdings in Deere & Company were worth $31,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of DE. Robertson Stephens Wealth Management LLC boosted its stake in shares of Deere & Company by 2.2% in the fourth quarter. Robertson Stephens Wealth Management LLC now owns 1,002 shares of the industrial products company’s stock valued at $426,000 after purchasing an additional 22 shares during the period. DLK Investment Management LLC lifted its holdings in Deere & Company by 0.3% during the 4th quarter. DLK Investment Management LLC now owns 8,212 shares of the industrial products company’s stock worth $3,479,000 after buying an additional 24 shares in the last quarter. Quent Capital LLC boosted its position in Deere & Company by 2.8% in the 4th quarter. Quent Capital LLC now owns 889 shares of the industrial products company’s stock valued at $377,000 after buying an additional 24 shares during the period. Valeo Financial Advisors LLC grew its stake in shares of Deere & Company by 0.3% in the fourth quarter. Valeo Financial Advisors LLC now owns 8,019 shares of the industrial products company’s stock worth $3,398,000 after acquiring an additional 24 shares in the last quarter. Finally, Douglas Lane & Associates LLC increased its position in shares of Deere & Company by 4.7% during the fourth quarter. Douglas Lane & Associates LLC now owns 557 shares of the industrial products company’s stock worth $236,000 after acquiring an additional 25 shares during the period. 68.58% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

DE has been the subject of several analyst reports. Truist Financial reissued a “buy” rating and set a $546.00 target price (down from $550.00) on shares of Deere & Company in a research note on Friday, February 14th. JPMorgan Chase & Co. boosted their price objective on Deere & Company from $470.00 to $500.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. Evercore ISI raised their target price on shares of Deere & Company from $437.00 to $455.00 and gave the company an “in-line” rating in a report on Wednesday, February 19th. Oppenheimer lifted their price target on shares of Deere & Company from $477.00 to $507.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. Finally, Robert W. Baird reissued a “neutral” rating and issued a $501.00 price objective on shares of Deere & Company in a research report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $460.00.

Deere & Company Stock Performance

Shares of DE opened at $479.70 on Wednesday. The company’s 50 day simple moving average is $475.21 and its 200-day simple moving average is $438.25. The firm has a market cap of $130.20 billion, a PE ratio of 21.26, a price-to-earnings-growth ratio of 2.14 and a beta of 1.01. Deere & Company has a 12-month low of $340.20 and a 12-month high of $515.05. The company has a current ratio of 2.22, a quick ratio of 1.98 and a debt-to-equity ratio of 1.94.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, February 13th. The industrial products company reported $3.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.14 by $0.05. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. As a group, equities analysts predict that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 8th. Shareholders of record on Monday, March 31st will be paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 1.35%. The ex-dividend date is Monday, March 31st. Deere & Company’s dividend payout ratio is presently 28.72%.

Insider Buying and Selling at Deere & Company

In other Deere & Company news, insider Rajesh Kalathur sold 24,580 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $500.61, for a total value of $12,304,993.80. Following the transaction, the insider now directly owns 74,878 shares of the company’s stock, valued at approximately $37,484,675.58. The trade was a 24.71 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.29% of the stock is owned by company insiders.

Deere & Company Profile

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.