Nicola Wealth Management LTD. Grows Stock Holdings in Deere & Company $DE

Nicola Wealth Management LTD. lifted its position in shares of Deere & Company (NYSE:DE) by 4.6% in the third quarter, HoldingsChannel.com reports. The firm owned 45,500 shares of the industrial products company’s stock after purchasing an additional 2,000 shares during the period. Deere & Company comprises 1.9% of Nicola Wealth Management LTD.’s investment portfolio, making the stock its 18th largest position. Nicola Wealth Management LTD.’s holdings in Deere & Company were worth $20,805,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in DE. Mid American Wealth Advisory Group Inc. purchased a new stake in Deere & Company in the second quarter worth about $25,000. Howard Hughes Medical Institute purchased a new position in Deere & Company during the second quarter valued at $27,000. Center for Financial Planning Inc. boosted its holdings in shares of Deere & Company by 406.7% during the 2nd quarter. Center for Financial Planning Inc. now owns 76 shares of the industrial products company’s stock valued at $39,000 after buying an additional 61 shares in the last quarter. Solstein Capital LLC grew its position in shares of Deere & Company by 93.8% in the 2nd quarter. Solstein Capital LLC now owns 93 shares of the industrial products company’s stock worth $47,000 after buying an additional 45 shares during the period. Finally, Horizon Bancorp Inc. IN bought a new position in shares of Deere & Company in the 2nd quarter worth about $51,000. Institutional investors own 68.58% of the company’s stock.

Insider Activity

In other Deere & Company news, CEO John C. May II sold 41,472 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer owned 117,970 shares in the company, valued at approximately $59,160,775.30. This trade represents a 26.01% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Cory J. Reed sold 12,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the insider owned 20,792 shares of the company’s stock, valued at approximately $10,603,920. The trade was a 36.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 64,578 shares of company stock valued at $32,471,682 in the last three months. 0.29% of the stock is currently owned by corporate insiders.

Deere & Company Stock Performance

Shares of DE opened at $516.51 on Tuesday. Deere & Company has a one year low of $404.42 and a one year high of $533.78. The business has a fifty day moving average of $483.42 and a 200 day moving average of $481.65. The company has a debt-to-equity ratio of 1.68, a current ratio of 2.22 and a quick ratio of 2.01. The firm has a market capitalization of $140.01 billion, a P/E ratio of 27.90, a PEG ratio of 1.97 and a beta of 1.00.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Wednesday, November 26th. The industrial products company reported $3.93 earnings per share for the quarter, missing the consensus estimate of $3.96 by ($0.03). Deere & Company had a return on equity of 20.54% and a net margin of 11.00%.The business had revenue of $12.39 billion during the quarter, compared to the consensus estimate of $9.77 billion. During the same quarter last year, the company earned $4.55 EPS. Deere & Company’s revenue for the quarter was up 14.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 9th. Investors of record on Wednesday, December 31st will be issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Wednesday, December 31st. Deere & Company’s dividend payout ratio (DPR) is currently 35.01%.

Analysts Set New Price Targets

A number of brokerages have weighed in on DE. Royal Bank Of Canada decreased their target price on shares of Deere & Company from $542.00 to $541.00 and set an “outperform” rating for the company in a research note on Friday, November 28th. Jefferies Financial Group lifted their price objective on Deere & Company from $440.00 to $475.00 and gave the company a “hold” rating in a research note on Tuesday, December 9th. Oppenheimer increased their target price on Deere & Company from $512.00 to $531.00 and gave the stock an “outperform” rating in a research note on Friday, November 28th. Citigroup lowered their price target on Deere & Company from $525.00 to $515.00 and set a “neutral” rating for the company in a research report on Tuesday, October 7th. Finally, Wall Street Zen lowered shares of Deere & Company from a “hold” rating to a “sell” rating in a research note on Friday, November 28th. Fifteen analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $524.20.

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.