FSB Premier Wealth Management Inc. Has $3.74 Million Holdings in Deere & Company (NYSE:DE)

FSB Premier Wealth Management Inc. decreased its holdings in shares of Deere & Company (NYSE:DE) by 1.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,005 shares of the industrial products company’s stock after selling 148 shares during the quarter. Deere & Company accounts for approximately 1.7% of FSB Premier Wealth Management Inc.’s investment portfolio, making the stock its 12th largest position. FSB Premier Wealth Management Inc.’s holdings in Deere & Company were worth $3,738,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. True Wealth Design LLC boosted its holdings in shares of Deere & Company by 1,180.0% during the 4th quarter. True Wealth Design LLC now owns 64 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 59 shares in the last quarter. Pineridge Advisors LLC boosted its stake in shares of Deere & Company by 725.0% during the first quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 58 shares in the last quarter. Private Wealth Management Group LLC bought a new stake in shares of Deere & Company during the fourth quarter worth about $29,000. Livelsberger Financial Advisory acquired a new position in shares of Deere & Company in the fourth quarter valued at approximately $30,000. Finally, Spartan Planning & Wealth Management bought a new position in Deere & Company in the 4th quarter valued at approximately $33,000. Institutional investors own 68.58% of the company’s stock.

Deere & Company Price Performance

DE stock opened at $385.63 on Wednesday. The company has a debt-to-equity ratio of 1.85, a current ratio of 2.07 and a quick ratio of 1.87. The company’s 50-day moving average is $368.41 and its 200-day moving average is $380.10. The stock has a market capitalization of $106.27 billion, a PE ratio of 11.61, a price-to-earnings-growth ratio of 1.28 and a beta of 0.93. Deere & Company has a 1 year low of $340.20 and a 1 year high of $423.35.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 earnings per share for the quarter, topping the consensus estimate of $5.63 by $0.66. The firm had revenue of $11.39 billion for the quarter, compared to the consensus estimate of $10.94 billion. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The business’s revenue was down 20.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $10.20 earnings per share. Equities research analysts expect that Deere & Company will post 25.09 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Monday, September 30th will be issued a $1.47 dividend. The ex-dividend date is Monday, September 30th. This represents a $5.88 annualized dividend and a dividend yield of 1.52%. Deere & Company’s dividend payout ratio is currently 17.70%.

Insider Activity at Deere & Company

In other Deere & Company news, insider Cory J. Reed sold 13,370 shares of the company’s stock in a transaction dated Monday, June 24th. The shares were 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 directly owns 41,642 shares of the company’s stock, valued at approximately $15,725,268.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.26% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on DE shares. HSBC cut shares of Deere & Company from a “buy” rating to a “hold” rating in a research report on Monday, August 19th. Oppenheimer lowered their target price on Deere & Company from $465.00 to $448.00 and set an “outperform” rating for the company in a research report on Monday, July 22nd. Truist Financial reiterated a “buy” rating and issued a $443.00 price target (up previously from $439.00) on shares of Deere & Company in a research report on Friday, August 16th. Raymond James assumed coverage on Deere & Company in a research report on Friday, June 28th. They set an “outperform” rating and a $420.00 price objective for the company. Finally, Daiwa Capital Markets upped their target price on Deere & Company from $400.00 to $420.00 and gave the company an “overweight” rating in a report on Wednesday, May 15th. Fourteen equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $414.11.

Deere & Company 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.