Modern Wealth Management LLC Grows Stock Position in Deere & Company (NYSE:DE)

Modern Wealth Management LLC boosted its holdings in Deere & Company (NYSE:DE) by 5.1% during the fourth quarter, Holdings Channel.com reports. The fund owned 3,779 shares of the industrial products company’s stock after acquiring an additional 184 shares during the period. Modern Wealth Management LLC’s holdings in Deere & Company were worth $1,776,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in DE. Robertson Stephens Wealth Management LLC increased its holdings in shares of Deere & Company by 2.2% in the 4th quarter. Robertson Stephens Wealth Management LLC now owns 1,002 shares of the industrial products company’s stock valued at $426,000 after acquiring an additional 22 shares during the last quarter. DLK Investment Management LLC boosted its holdings in Deere & Company by 0.3% in the fourth quarter. DLK Investment Management LLC now owns 8,212 shares of the industrial products company’s stock worth $3,479,000 after purchasing an additional 24 shares during the period. Quent Capital LLC increased its stake in Deere & Company by 2.8% during the fourth quarter. Quent Capital LLC now owns 889 shares of the industrial products company’s stock valued at $377,000 after purchasing an additional 24 shares during the last quarter. Valeo Financial Advisors LLC raised its holdings in shares of Deere & Company by 0.3% during the fourth quarter. Valeo Financial Advisors LLC now owns 8,019 shares of the industrial products company’s stock worth $3,398,000 after purchasing an additional 24 shares during the period. Finally, Douglas Lane & Associates LLC lifted its position in shares of Deere & Company by 4.7% in the 4th quarter. Douglas Lane & Associates LLC now owns 557 shares of the industrial products company’s stock worth $236,000 after buying an additional 25 shares during the last quarter. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Rajesh Kalathur sold 24,580 shares of Deere & Company stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $500.61, for a total value of $12,304,993.80. Following the completion of the sale, the insider now owns 74,878 shares of the company’s stock, valued at approximately $37,484,675.58. The trade was a 24.71 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.29% of the stock is currently owned by corporate insiders.

Deere & Company Trading Down 0.1 %

Deere & Company stock opened at $479.70 on Wednesday. Deere & Company has a 12 month low of $340.20 and a 12 month high of $515.05. The company has a quick ratio of 1.98, a current ratio of 2.22 and a debt-to-equity ratio of 1.94. The stock has a market cap of $130.20 billion, a P/E ratio of 21.26, a P/E/G ratio of 2.14 and a beta of 1.01. The company’s fifty day simple moving average is $475.21 and its 200-day simple moving average is $438.25.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, February 13th. The industrial products company reported $3.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.14 by $0.05. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. As a group, sell-side analysts forecast that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 8th. Investors of record on Monday, March 31st will be paid a $1.62 dividend. The ex-dividend date is Monday, March 31st. This represents a $6.48 annualized dividend and a dividend yield of 1.35%. Deere & Company’s payout ratio is 28.72%.

Analyst Ratings Changes

Several research firms recently weighed in on DE. Oppenheimer increased their price objective on shares of Deere & Company from $477.00 to $507.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. StockNews.com cut Deere & Company from a “hold” rating to a “sell” rating in a research report on Saturday, March 1st. Baird R W lowered Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 3rd. Robert W. Baird reaffirmed a “neutral” rating and set a $501.00 price target on shares of Deere & Company in a report on Monday, March 3rd. Finally, Argus set a $510.00 price target on Deere & Company in a research report on Friday, March 7th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Deere & Company has a consensus rating of “Hold” and a consensus target price of $460.00.

Deere & Company Profile

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.