Catalytic Wealth RIA LLC Reduces Stock Position in Deere & Company (NYSE:DE)

Catalytic Wealth RIA LLC lessened its holdings in Deere & Company (NYSE:DE) by 7.6% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,256 shares of the industrial products company’s stock after selling 103 shares during the period. Catalytic Wealth RIA LLC’s holdings in Deere & Company were worth $469,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in DE. True Wealth Design LLC increased its holdings in Deere & Company by 1,180.0% in the 4th 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 in the last quarter. Pineridge Advisors LLC increased its holdings in Deere & Company by 725.0% in the 1st quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 58 shares during the last quarter. Private Wealth Management Group LLC purchased a new position in Deere & Company during the 4th quarter valued at approximately $29,000. Livelsberger Financial Advisory purchased a new stake in shares of Deere & Company during the 4th quarter worth approximately $30,000. Finally, Spartan Planning & Wealth Management bought a new position in shares of Deere & Company during the 4th quarter valued at approximately $33,000. 68.58% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Oppenheimer cut their price objective on shares of Deere & Company from $465.00 to $448.00 and set an “outperform” rating on the stock in a research report on Monday, July 22nd. Truist Financial reiterated a “buy” rating and issued a $443.00 price target (up previously from $439.00) on shares of Deere & Company in a report on Friday, August 16th. Citigroup decreased their target price on Deere & Company from $395.00 to $370.00 and set a “neutral” rating for the company in a research report on Tuesday, August 13th. BMO Capital Markets assumed coverage on Deere & Company in a research report on Friday, August 9th. They set a “market perform” rating and a $400.00 price target on the stock. Finally, JPMorgan Chase & Co. cut their target price on shares of Deere & Company from $375.00 to $360.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 13th. Fourteen analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $414.11.

Insider Buying and Selling

In related news, insider Cory J. Reed sold 13,370 shares of the firm’s stock in a transaction that occurred on 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 transaction, the insider now directly owns 41,642 shares of the company’s stock, valued at approximately $15,725,268.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.26% of the stock is owned by insiders.

Deere & Company Stock Up 1.0 %

NYSE:DE traded up $3.92 during midday trading on Friday, hitting $385.74. 1,413,160 shares of the company were exchanged, compared to its average volume of 1,528,736. The company has a current ratio of 2.01, a quick ratio of 1.80 and a debt-to-equity ratio of 1.81. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $423.35. The company has a fifty day simple moving average of $367.94 and a 200 day simple moving average of $379.81. The company has a market capitalization of $106.30 billion, a PE ratio of 11.61, a price-to-earnings-growth ratio of 1.59 and a beta of 0.93.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.63 by $0.66. Deere & Company had a net margin of 16.15% and a return on equity of 42.26%. The company had revenue of $11.39 billion for the quarter, compared to the consensus estimate of $10.94 billion. During the same period last year, the firm posted $10.20 EPS. Deere & Company’s revenue for the quarter was down 20.3% on a year-over-year basis. As a group, equities analysts anticipate that Deere & Company will post 25.41 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Monday, September 30th will be given a dividend of $1.47 per share. The ex-dividend date is Monday, September 30th. This represents a $5.88 annualized dividend and a dividend yield of 1.52%. Deere & Company’s payout ratio is currently 17.70%.

Deere & 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.