Powers Advisory Group LLC Sells 34 Shares of Deere & Company (NYSE:DE)

Powers Advisory Group LLC reduced its holdings in Deere & Company (NYSE:DE) by 1.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,255 shares of the industrial products company’s stock after selling 34 shares during the quarter. Powers Advisory Group LLC’s holdings in Deere & Company were worth $926,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in DE. True Wealth Design LLC lifted its holdings in shares of Deere & Company by 1,180.0% during the fourth quarter. True Wealth Design LLC now owns 64 shares of the industrial products company’s stock worth $26,000 after buying an additional 59 shares during the last quarter. ZRC Wealth Management LLC acquired a new stake in Deere & Company in the 4th quarter worth $28,000. Rakuten Securities Inc. bought a new position in shares of Deere & Company during the 4th quarter worth about $28,000. Naples Money Management LLC bought a new stake in shares of Deere & Company in the fourth quarter valued at about $29,000. Finally, Private Wealth Management Group LLC acquired a new stake in Deere & Company during the fourth quarter worth about $29,000. 68.58% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Deere & Company news, insider Cory J. Reed sold 13,370 shares of the 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 transaction, the insider now owns 41,642 shares of the company’s stock, valued at $15,725,268.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Daiwa Capital Markets lifted their price objective on Deere & Company from $400.00 to $420.00 and gave the stock an “overweight” rating in a report on Wednesday, May 15th. Morgan Stanley lifted their target price on shares of Deere & Company from $430.00 to $450.00 in a research report on Wednesday, May 15th. DA Davidson dropped their price target on shares of Deere & Company from $483.00 to $465.00 and set a “buy” rating for the company in a research report on Monday, May 20th. Stifel Nicolaus upped their price objective on Deere & Company from $425.00 to $450.00 and gave the company a “buy” rating in a research note on Friday, May 17th. Finally, Citigroup began coverage on Deere & Company in a research report on Wednesday, June 26th. They set a “neutral” rating and a $395.00 target price for the company. Eleven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $427.66.

Deere & Company Trading Down 0.6 %

Shares of NYSE DE traded down $2.16 during midday trading on Thursday, hitting $362.79. The stock had a trading volume of 668,937 shares, compared to its average volume of 1,634,612. The firm has a market cap of $99.97 billion, a P/E ratio of 10.92, a price-to-earnings-growth ratio of 1.47 and a beta of 0.93. Deere & Company has a fifty-two week low of $353.15 and a fifty-two week high of $450.00. 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 company’s 50-day simple moving average is $383.26 and its 200 day simple moving average is $386.78.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, May 16th. The industrial products company reported $8.53 earnings per share for the quarter, topping the consensus estimate of $7.86 by $0.67. The firm had revenue of $13.61 billion during the quarter, compared to analysts’ expectations of $13.29 billion. Deere & Company had a return on equity of 42.26% and a net margin of 16.15%. The company’s quarterly revenue was down 15.4% compared to the same quarter last year. During the same period in the previous year, the business posted $9.65 EPS. Research analysts anticipate that Deere & Company will post 25.59 EPS for the current year.

Deere & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 8th. Shareholders of record on Friday, June 28th will be paid a $1.47 dividend. The ex-dividend date is Friday, June 28th. This represents a $5.88 dividend on an annualized basis and a yield of 1.62%. Deere & Company’s payout ratio is presently 17.70%.

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.