TrueWealth Advisors LLC Decreases Holdings in Deere & Company $DE

TrueWealth Advisors LLC cut its stake in Deere & Company (NYSE:DE) by 57.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 663 shares of the industrial products company’s stock after selling 906 shares during the quarter. TrueWealth Advisors LLC’s holdings in Deere & Company were worth $309,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of DE. Strategic Advocates LLC purchased a new stake in shares of Deere & Company in the third quarter worth about $25,000. Howard Hughes Medical Institute purchased a new stake in shares of Deere & Company during the 2nd quarter valued at about $27,000. Activest Wealth Management raised its holdings in shares of Deere & Company by 69.2% during the 3rd quarter. Activest Wealth Management now owns 66 shares of the industrial products company’s stock valued at $30,000 after buying an additional 27 shares during the period. Wealth Watch Advisors INC acquired a new position in Deere & Company during the 3rd quarter worth approximately $32,000. Finally, Soundwatch Capital LLC acquired a new position in Deere & Company during the 2nd quarter worth approximately $41,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Price Performance

DE stock opened at $558.81 on Friday. The stock’s 50 day moving average is $572.75 and its two-hundred day moving average is $506.05. Deere & Company has a 52-week low of $404.42 and a 52-week high of $674.19. The company has a market capitalization of $150.94 billion, a PE ratio of 31.50, a P/E/G ratio of 1.96 and a beta of 0.96. The company has a quick ratio of 1.96, a current ratio of 2.21 and a debt-to-equity ratio of 1.59.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, February 19th. The industrial products company reported $2.42 EPS for the quarter, beating the consensus estimate of $1.90 by $0.52. Deere & Company had a return on equity of 18.93% and a net margin of 10.29%.The company had revenue of $9.61 billion during the quarter, compared to analysts’ expectations of $7.50 billion. During the same period in the prior year, the business posted $3.19 EPS. The business’s revenue was up 17.5% on a year-over-year basis. Analysts predict that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 8th. Shareholders of record on Tuesday, March 31st will be paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Tuesday, March 31st. Deere & Company’s dividend payout ratio is 36.53%.

Analysts Set New Price Targets

DE has been the subject of several recent research reports. Jefferies Financial Group downgraded shares of Deere & Company from a “hold” rating to an “underperform” rating and increased their price objective for the company from $475.00 to $550.00 in a research report on Monday, February 23rd. Keefe, Bruyette & Woods reissued an “outperform” rating on shares of Deere & Company in a research report on Monday, December 1st. JPMorgan Chase & Co. decreased their target price on shares of Deere & Company from $480.00 to $460.00 and set a “neutral” rating for the company in a research note on Friday, December 19th. Zacks Research raised shares of Deere & Company from a “strong sell” rating to a “hold” rating in a report on Wednesday, December 3rd. Finally, Citigroup dropped their price target on shares of Deere & Company from $675.00 to $625.00 and set a “neutral” rating on the stock in a research note on Monday, March 9th. Sixteen investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $644.70.

Insiders Place Their Bets

In other Deere & Company news, CEO John C. May II sold 41,472 shares of the firm’s stock in a transaction on Thursday, January 8th. The shares were sold at an average price of $501.49, for a total transaction of $20,797,793.28. Following the completion of the transaction, the chief executive officer directly owned 117,970 shares of the company’s stock, valued at $59,160,775.30. This trade represents a 26.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Cory J. Reed sold 12,000 shares of the business’s stock in a transaction dated Wednesday, January 14th. The stock was sold at an average price of $510.00, for a total transaction of $6,120,000.00. Following the completion of the sale, the insider directly owned 20,792 shares of the company’s stock, valued at $10,603,920. The trade was a 36.59% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.29% of the company’s stock.

About Deere & Company

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.