AdvisorNet Financial Inc Cuts Stake in Deere & Company (NYSE:DE)

AdvisorNet Financial Inc decreased its position in shares of Deere & Company (NYSE:DE) by 9.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 686 shares of the industrial products company’s stock after selling 74 shares during the quarter. AdvisorNet Financial Inc’s holdings in Deere & Company were worth $256,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of DE. True Wealth Design LLC boosted its stake in shares of Deere & Company by 1,180.0% in the fourth quarter. True Wealth Design LLC now owns 64 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 59 shares during the last quarter. Pineridge Advisors LLC boosted its stake in shares of Deere & Company by 725.0% in the first quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 58 shares during the last quarter. Rakuten Securities Inc. acquired a new stake in shares of Deere & Company in the fourth quarter worth approximately $28,000. Naples Money Management LLC acquired a new stake in shares of Deere & Company in the fourth quarter worth approximately $29,000. Finally, Private Wealth Management Group LLC acquired a new stake in shares of Deere & Company in the fourth quarter worth approximately $29,000. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Trading Up 7.6 %

DE stock traded up $26.65 during trading on Thursday, reaching $377.93. 2,277,776 shares of the stock traded hands, compared to its average volume of 1,540,700. The business’s 50 day moving average price is $367.23 and its 200-day moving average price is $380.75. Deere & Company has a 52-week low of $340.20 and a 52-week high of $435.73. The company has a debt-to-equity ratio of 1.81, a current ratio of 2.01 and a quick ratio of 1.80. The firm has a market capitalization of $104.15 billion, a PE ratio of 11.36, a P/E/G ratio of 1.59 and a beta of 0.93.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.94 by $0.35. Deere & Company had a return on equity of 42.26% and a net margin of 16.15%. The firm had revenue of $11.39 billion during the quarter, compared to the consensus estimate of $10.94 billion. During the same quarter in the previous year, the business earned $10.20 earnings per share. The firm’s quarterly revenue was down 20.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Deere & Company will post 25.41 earnings per share for the current year.

Deere & Company Dividend Announcement

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

Insider Transactions at Deere & Company

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

Analyst Ratings Changes

A number of analysts have recently issued reports on DE shares. Citigroup lowered their price target on Deere & Company from $395.00 to $370.00 and set a “neutral” rating on the stock in a research note on Tuesday. Daiwa Capital Markets boosted their price objective on Deere & Company from $400.00 to $420.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 15th. DA Davidson lowered their price target on Deere & Company from $483.00 to $465.00 and set a “buy” rating for the company in a report on Monday, May 20th. BMO Capital Markets began coverage on Deere & Company in a report on Friday, August 9th. They set a “market perform” rating and a $400.00 price target for the company. Finally, Morgan Stanley raised their target price on Deere & Company from $430.00 to $450.00 in a report on Wednesday, May 15th. Twelve investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $422.78.

Deere & Company Profile

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.