Prestige Wealth Management Group LLC Cuts Holdings in Deere & Company (NYSE:DE)

Prestige Wealth Management Group LLC cut its holdings in Deere & Company (NYSE:DE) by 25.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 73 shares of the industrial products company’s stock after selling 25 shares during the quarter. Prestige Wealth Management Group LLC’s holdings in Deere & Company were worth $31,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of DE. Pineridge Advisors LLC grew its position in Deere & Company by 60.5% during the fourth quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock worth $29,000 after buying an additional 26 shares during the period. Modus Advisors LLC purchased a new stake in shares of Deere & Company during the 4th quarter worth approximately $32,000. YANKCOM Partnership acquired a new stake in shares of Deere & Company in the 4th quarter worth approximately $34,000. Synergy Asset Management LLC purchased a new position in Deere & Company in the 4th quarter valued at approximately $35,000. Finally, Continuum Advisory LLC raised its holdings in Deere & Company by 155.8% during the third quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock worth $43,000 after purchasing an additional 67 shares during the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Insider Transactions at Deere & Company

In other news, insider Rajesh Kalathur sold 24,580 shares of the firm’s 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 transaction, the insider now owns 74,878 shares of the company’s stock, valued at approximately $37,484,675.58. This trade represents a 24.71 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.29% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Baird R W cut Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 3rd. Argus set a $510.00 target price on shares of Deere & Company in a research report on Friday, March 7th. Citigroup increased their price target on shares of Deere & Company from $430.00 to $480.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. Robert W. Baird restated a “neutral” rating and set a $501.00 price objective on shares of Deere & Company in a research report on Monday, March 3rd. Finally, Jefferies Financial Group cut Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 target price on the stock. in a report on Friday, December 6th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Deere & Company presently has a consensus rating of “Hold” and a consensus price target of $460.00.

Deere & Company Price Performance

Deere & Company stock opened at $479.70 on Wednesday. Deere & Company has a 1 year low of $340.20 and a 1 year high of $515.05. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.98 and a current ratio of 2.22. The firm has a 50 day moving average price of $475.21 and a 200 day moving average price of $438.25. The company has a market cap of $130.20 billion, a price-to-earnings ratio of 21.26, a PEG ratio of 2.14 and a beta of 1.01.

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

Deere & Company Dividend Announcement

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

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.