FSB Premier Wealth Management Inc. Reduces Stock Holdings in Deere & Company (NYSE:DE)

FSB Premier Wealth Management Inc. cut its position in shares of Deere & Company (NYSE:DE) by 0.8% during the 4th quarter, Holdings Channel reports. The firm owned 10,985 shares of the industrial products company’s stock after selling 84 shares during the quarter. Deere & Company makes up approximately 1.9% of FSB Premier Wealth Management Inc.’s holdings, making the stock its 9th largest holding. FSB Premier Wealth Management Inc.’s holdings in Deere & Company were worth $4,654,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Pineridge Advisors LLC grew its holdings in shares of Deere & Company by 60.5% in the fourth quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 26 shares in the last quarter. Modus Advisors LLC purchased a new stake in shares of Deere & Company during the 4th quarter valued at $32,000. YANKCOM Partnership bought a new stake in Deere & Company in the fourth quarter worth about $34,000. Synergy Asset Management LLC purchased a new position in Deere & Company in the fourth quarter valued at approximately $35,000. Finally, Continuum Advisory LLC lifted its position in shares of Deere & Company by 155.8% during the 3rd quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock valued at $43,000 after buying an additional 67 shares during the last quarter. 68.58% of the stock is owned by institutional investors.

Analysts Set New Price Targets

DE has been the topic of several recent research reports. StockNews.com raised shares of Deere & Company from a “sell” rating to a “hold” rating in a report on Saturday. Oppenheimer lifted their price target on Deere & Company from $477.00 to $507.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. Citigroup raised their target price on Deere & Company from $430.00 to $480.00 and gave the stock a “neutral” rating in a research note on Friday, February 14th. Truist Financial reaffirmed a “buy” rating and set a $546.00 price objective (down previously from $550.00) on shares of Deere & Company in a research note on Friday, February 14th. Finally, Evercore ISI boosted their price target on shares of Deere & Company from $437.00 to $455.00 and gave the company an “in-line” rating in a research report on Wednesday, February 19th. Fourteen analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $460.00.

Insider Transactions at Deere & Company

In other news, insider Rajesh Kalathur sold 24,580 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $500.61, for a total transaction of $12,304,993.80. Following the transaction, the insider now directly 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.29% of the company’s stock.

Deere & Company Stock Performance

Shares of DE stock opened at $465.27 on Monday. The firm has a market capitalization of $126.28 billion, a price-to-earnings ratio of 20.62, a PEG ratio of 2.14 and a beta of 1.01. Deere & Company has a 52 week low of $340.20 and a 52 week high of $515.05. The stock has a fifty day moving average of $477.28 and a 200 day moving average of $440.12. The company has a quick ratio of 1.98, a current ratio of 2.22 and a debt-to-equity ratio of 1.94.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, February 13th. The industrial products company reported $3.19 EPS for the quarter, beating analysts’ consensus estimates of $3.14 by $0.05. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. As a group, research analysts expect that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 8th. Shareholders of record on Monday, March 31st will be paid a $1.62 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $6.48 dividend on an annualized basis and a yield of 1.39%. Deere & Company’s payout ratio 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.