ProVise Management Group LLC Takes Position in Deere & Company (NYSE:DE)

ProVise Management Group LLC purchased a new stake in Deere & Company (NYSE:DE) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 702 shares of the industrial products company’s stock, valued at approximately $288,000.

A number of other institutional investors also recently modified their holdings of the company. True Wealth Design LLC increased its position in 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 acquiring an additional 59 shares during the period. ZRC Wealth Management LLC bought a new position in Deere & Company during the fourth quarter worth $28,000. Rakuten Securities Inc. bought a new position in Deere & Company during the fourth quarter worth $28,000. Naples Money Management LLC bought a new position in Deere & Company during the fourth quarter worth $29,000. Finally, Private Wealth Management Group LLC bought a new position in Deere & Company during the fourth quarter worth $29,000. Institutional investors own 68.58% of the company’s stock.

Deere & Company Trading Down 0.7 %

Deere & Company stock traded down $2.58 during trading hours on Friday, reaching $378.06. 1,143,879 shares of the company’s stock traded hands, compared to its average volume of 1,510,291. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.80 and a current ratio of 2.01. Deere & Company has a fifty-two week low of $345.93 and a fifty-two week high of $450.00. The firm has a market capitalization of $104.18 billion, a price-to-earnings ratio of 11.39, a PEG ratio of 1.56 and a beta of 0.93. The firm’s 50 day moving average is $375.95 and its 200-day moving average is $384.56.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, May 16th. The industrial products company reported $8.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.86 by $0.67. Deere & Company had a net margin of 16.15% and a return on equity of 42.26%. The company had revenue of $13.61 billion for the quarter, compared to the consensus estimate of $13.29 billion. During the same period in the prior year, the company posted $9.65 EPS. The company’s revenue was down 15.4% compared to the same quarter last year. On average, analysts predict that Deere & Company will post 25.47 earnings per share for the current year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 8th. Stockholders 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 dividend yield of 1.56%. Deere & Company’s dividend payout ratio (DPR) is presently 17.70%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. DA Davidson dropped their target price on shares of Deere & Company from $483.00 to $465.00 and set a “buy” rating on the stock in a research report on Monday, May 20th. Stifel Nicolaus boosted their target price on shares of Deere & Company from $425.00 to $450.00 and gave the stock a “buy” rating in a research report on Friday, May 17th. Oppenheimer reissued an “outperform” rating and issued a $456.00 price target on shares of Deere & Company in a report on Thursday, May 16th. JPMorgan Chase & Co. lowered their price target on shares of Deere & Company from $385.00 to $375.00 and set a “neutral” rating on the stock in a report on Thursday, July 11th. Finally, Morgan Stanley boosted their target price on shares of Deere & Company from $430.00 to $450.00 in a research note on Wednesday, May 15th. Eleven research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, Deere & Company has a consensus rating of “Hold” and an average price target of $427.13.

Insider Activity

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 directly owns 41,642 shares of the company’s stock, valued at approximately $15,725,268.46. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.26% of the stock is currently owned by company insiders.

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.