Wealthcare Advisory Partners LLC Grows Stake in Deere & Company (NYSE:DE)

Wealthcare Advisory Partners LLC boosted its position in shares of Deere & Company (NYSE:DE) by 38.6% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,652 shares of the industrial products company’s stock after acquiring an additional 1,296 shares during the quarter. Wealthcare Advisory Partners LLC’s holdings in Deere & Company were worth $1,911,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of DE. Tompkins Financial Corp lifted its position in shares of Deere & Company by 2.6% in the first quarter. Tompkins Financial Corp now owns 981 shares of the industrial products company’s stock valued at $403,000 after acquiring an additional 25 shares in the last quarter. Essex Savings Bank boosted its stake in Deere & Company by 0.5% in the 4th quarter. Essex Savings Bank now owns 5,367 shares of the industrial products company’s stock worth $2,146,000 after purchasing an additional 26 shares during the period. Valley National Advisers Inc. boosted its stake in Deere & Company by 1.5% in the 4th quarter. Valley National Advisers Inc. now owns 1,879 shares of the industrial products company’s stock worth $751,000 after purchasing an additional 27 shares during the period. Bleakley Financial Group LLC grew its holdings in Deere & Company by 0.5% during the 4th quarter. Bleakley Financial Group LLC now owns 5,158 shares of the industrial products company’s stock valued at $2,063,000 after buying an additional 27 shares in the last quarter. Finally, Simplicity Solutions LLC raised its position in shares of Deere & Company by 0.5% during the fourth quarter. Simplicity Solutions LLC now owns 5,158 shares of the industrial products company’s stock valued at $2,063,000 after buying an additional 27 shares during the last quarter. Institutional investors own 68.58% of the company’s stock.

Insider Activity

In other Deere & Company news, insider Cory J. Reed sold 13,370 shares of the company’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $377.63, for a total transaction of $5,048,913.10. Following the completion of the sale, the insider now owns 41,642 shares in the company, valued at $15,725,268.46. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on DE shares. JPMorgan Chase & Co. cut their target price on shares of Deere & Company from $425.00 to $385.00 and set a “neutral” rating for the company in a research note on Friday, May 17th. DA Davidson dropped their price target on Deere & Company from $483.00 to $465.00 and set a “buy” rating for the company in a research note on Monday, May 20th. Citigroup began coverage on Deere & Company in a research note on Wednesday. They issued a “neutral” rating and a $395.00 price objective on the stock. Truist Financial began coverage on shares of Deere & Company in a report on Thursday, March 14th. They issued a “buy” rating and a $494.00 target price for the company. Finally, Stifel Nicolaus increased their price objective on shares of Deere & Company from $425.00 to $450.00 and gave the company a “buy” rating in a research report on Friday, May 17th. Eleven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $431.14.

Deere & Company Trading Down 0.1 %

DE stock traded down $0.20 during trading on Thursday, hitting $376.05. The company had a trading volume of 241,040 shares, compared to its average volume of 1,465,064. Deere & Company has a 52-week low of $353.15 and a 52-week high of $450.00. The company has a 50 day simple moving average of $386.75 and a 200-day simple moving average of $387.08. The firm has a market capitalization of $103.63 billion, a P/E ratio of 11.32, a PEG ratio of 1.48 and a beta of 0.98. The company has a quick ratio of 1.80, a current ratio of 2.01 and a debt-to-equity ratio of 1.81.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, May 16th. The industrial products company reported $8.53 EPS for the quarter, topping analysts’ consensus estimates of $7.86 by $0.67. The business had revenue of $13.61 billion for the quarter, compared to analyst estimates of $13.29 billion. Deere & Company had a net margin of 16.15% and a return on equity of 42.26%. The company’s quarterly revenue was down 15.4% compared to the same quarter last year. During the same period last year, the company posted $9.65 earnings per share. As a group, research analysts forecast that Deere & Company will post 25.61 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 8th. Stockholders of record on Friday, June 28th will be given a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date is Friday, June 28th. Deere & Company’s payout ratio is 17.70%.

About Deere & Company

Deere & Company engages in the manufacture and distribution of 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 large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, 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.