Deere & Company (NYSE:DE) Stock Holdings Cut by Wetzel Investment Advisors Inc.

Wetzel Investment Advisors Inc. lessened its position in Deere & Company (NYSE:DE) by 61.5% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 84 shares of the industrial products company’s stock after selling 134 shares during the period. Wetzel Investment Advisors Inc.’s holdings in Deere & Company were worth $35,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. True Wealth Design LLC boosted its holdings in Deere & Company by 1,180.0% during the fourth quarter. True Wealth Design LLC now owns 64 shares of the industrial products company’s stock worth $26,000 after buying an additional 59 shares in the last quarter. Pineridge Advisors LLC boosted its stake in shares of Deere & Company by 725.0% during the 1st quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 58 shares in the last quarter. Private Wealth Management Group LLC acquired a new position in shares of Deere & Company in the 4th quarter worth $29,000. Livelsberger Financial Advisory acquired a new stake in shares of Deere & Company during the fourth quarter worth $30,000. Finally, Spartan Planning & Wealth Management acquired a new stake in shares of Deere & Company during the fourth quarter worth $33,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Trading Up 0.0 %

Shares of NYSE DE opened at $387.30 on Wednesday. The business has a 50 day simple moving average of $370.01 and a 200 day simple moving average of $381.05. Deere & Company has a 52 week low of $340.20 and a 52 week high of $417.46. The stock has a market cap of $105.97 billion, a price-to-earnings ratio of 11.66, a PEG ratio of 1.27 and a beta of 0.92. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.87 and a current ratio of 2.07.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, topping the consensus estimate of $5.63 by $0.66. The company had revenue of $11.39 billion during the quarter, compared to the consensus estimate of $10.94 billion. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The company’s revenue for the quarter was down 20.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $10.20 earnings per share. On average, research analysts predict that Deere & Company will post 25.07 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The firm 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. This represents a $5.88 annualized dividend and a yield of 1.52%. The ex-dividend date is Monday, September 30th. Deere & Company’s payout ratio is 17.70%.

Insider Buying and Selling at Deere & Company

In other news, insider Cory J. Reed sold 13,370 shares of the company’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $377.63, for a total transaction of $5,048,913.10. Following the completion of the sale, the insider now owns 41,642 shares in the company, valued at approximately $15,725,268.46. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

DE has been the topic of a number of analyst reports. BMO Capital Markets initiated coverage on Deere & Company in a research note on Friday, August 9th. They issued a “market perform” rating and a $400.00 price target on the stock. TD Cowen lifted their target price on shares of Deere & Company from $383.00 to $390.00 and gave the stock a “hold” rating in a research report on Friday, May 17th. Evercore ISI boosted their price target on shares of Deere & Company from $371.00 to $378.00 and gave the company an “in-line” rating in a report on Monday, August 19th. DA Davidson decreased their price objective on shares of Deere & Company from $483.00 to $465.00 and set a “buy” rating for the company in a research note on Monday, May 20th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a research note on Thursday, August 8th. Fourteen analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Deere & Company currently has a consensus rating of “Hold” and an average price target of $414.11.

About Deere & Company

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.