Institute for Wealth Management LLC. Decreases Stock Holdings in Deere & Company (NYSE:DE)

Institute for Wealth Management LLC. cut its position in Deere & Company (NYSE:DE) by 0.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 4,691 shares of the industrial products company’s stock after selling 40 shares during the quarter. Institute for Wealth Management LLC.’s holdings in Deere & Company were worth $1,876,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Pinnacle Associates Ltd. boosted its stake in Deere & Company by 21.3% during the 4th quarter. Pinnacle Associates Ltd. now owns 5,355 shares of the industrial products company’s stock valued at $2,141,000 after acquiring an additional 939 shares during the last quarter. Penserra Capital Management LLC boosted its stake in Deere & Company by 2.4% during the 3rd quarter. Penserra Capital Management LLC now owns 236,696 shares of the industrial products company’s stock valued at $89,322,000 after acquiring an additional 5,485 shares during the last quarter. New Mexico Educational Retirement Board boosted its stake in Deere & Company by 6.9% during the 3rd quarter. New Mexico Educational Retirement Board now owns 14,002 shares of the industrial products company’s stock valued at $5,284,000 after acquiring an additional 900 shares during the last quarter. Centric Wealth Management bought a new position in Deere & Company during the 3rd quarter valued at $2,640,000. Finally, Graham Capital Management L.P. boosted its stake in Deere & Company by 483.3% during the 3rd quarter. Graham Capital Management L.P. now owns 17,500 shares of the industrial products company’s stock valued at $6,604,000 after acquiring an additional 14,500 shares during the last quarter. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Price Performance

Deere & Company stock traded up $0.04 during trading hours on Friday, hitting $400.64. 581,293 shares of the company traded hands, compared to its average volume of 1,488,791. The firm has a market cap of $111.52 billion, a P/E ratio of 11.65, a P/E/G ratio of 1.49 and a beta of 1.04. The company has a quick ratio of 1.81, a current ratio of 2.05 and a debt-to-equity ratio of 1.81. The firm’s 50-day simple moving average is $385.47 and its two-hundred day simple moving average is $382.79. Deere & Company has a 1-year low of $345.55 and a 1-year high of $450.00.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, February 15th. The industrial products company reported $6.23 EPS for the quarter, beating the consensus estimate of $5.19 by $1.04. The firm had revenue of $10.49 billion for the quarter, compared to analysts’ expectations of $10.30 billion. Deere & Company had a net margin of 16.38% and a return on equity of 44.60%. Deere & Company’s quarterly revenue was down 8.0% on a year-over-year basis. During the same quarter last year, the company earned $6.55 EPS. As a group, analysts forecast that Deere & Company will post 27.39 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Friday, March 29th will be given a dividend of $1.47 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $5.88 annualized dividend and a dividend yield of 1.47%. Deere & Company’s dividend payout ratio (DPR) is 17.12%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Wells Fargo & Company reduced their price objective on shares of Deere & Company from $445.00 to $425.00 and set an “overweight” rating on the stock in a research note on Friday, February 16th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Deere & Company from $425.00 to $401.00 and set a “hold” rating on the stock in a report on Friday, February 16th. Morgan Stanley assumed coverage on shares of Deere & Company in a report on Monday, January 8th. They set an “overweight” rating and a $430.00 target price on the stock. JPMorgan Chase & Co. increased their target price on shares of Deere & Company from $415.00 to $425.00 and gave the stock a “neutral” rating in a report on Friday, April 12th. Finally, Stifel Nicolaus dropped their price objective on shares of Deere & Company from $435.00 to $425.00 and set a “buy” rating on the stock in a report on Friday, February 16th. Ten analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $433.28.

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.